It is interesting to note that Avi Krawitz refers to Signet Jewelers’ relatively low level of LGD sales as “saturation.” I recall that LGD sales make up only low teens in its total turnover. Recently I have spoken to no less than two retailers who told me that LGD made up a large portion of their sales turnover but there was no grave concerns expressed about saturation. It should be noted that Signet had not decided which banner to carry out this promotion with but it is interesting that the so called training provided with De beers can easily be criticized as being non-inclusive and may be heavily oriented to lead the consumer to buy mined diamonds. I hesitate to question whether this is indeed bias and perhaps equal time should be given to the staff of another Signet banner to be trained on LGD. This may be opening up a can of worms of De beers own making. It takes two to tango so let’s see if De beers and Signet step on each others toes on the dance floor. There is not much details that has been shared so only time will tell. I wonder whether the money could have been better spent on a campaign to promote the diamond dream generically with having blinders put on. Let’s see how the creative agency pulls this one off without reverting to the classic mined diamonds USP of being rare and expensive. I still wonder why the need to make this announcement without any details. We are going to have a baby. That’s good.
The collaboration between De Beers Group and Signet Jewelers to promote natural diamonds is somewhat of a departure for both companies, but I believe a necessary move that may be just what the industry needs right now... Here's my take in the video below 👇
