This partnership will provide De Beers with deeper insights into consumer choices between jewellery set with natural stones and more affordable lab-grown diamond alternatives. Signet, on the other hand, will focus on enhancing the perceived value of natural diamond jewelry while continuing to offer lab-grown diamonds alongside.
Signet anticipates a significant increase in the number of couples getting engaged over the next three years. Their proprietary data suggests a 25% rise in engagements from now through 2027.
Promoting Natural Diamonds
All of Signet’s fine jewellery retail brands will emphasize the uniqueness, rarity, timelessness, emotional resonance, and enduring value of natural diamonds. Both companies believe these attributes will resonate with next-generation consumers who value meaningful purchases.
“Natural diamonds are the perfect symbols to celebrate life’s most meaningful moments,” said De Beers Group CEO Al Cook. He highlighted the positive impact of diamond mining on communities in Botswana, Namibia, South Africa, and Canada, where De Beers operates.
Signet CEO Gina Drosos sees this partnership not only boosting Signet's diamond sales but also benefiting the entire jewellery industry. “When we launch a great trend, it raises all boats across the industry,” Drosos said.
The new marketing campaign, set to launch in the third quarter, will include online content, in-store messaging, innovative merchandising, and targeted marketing. Training for Signet’s 20,000 sales associates on the unique attributes and value of natural diamonds has already begun.
Targeting Zillennials
The collaboration aims to engage "Zillennials," a combined market of Gen Z (aged 12-27) and Millennials (aged 28-43), who are entering or approaching the age of first marriage and potential engagement ring purchases. Despite current U.S. marriage rates being lower than historic levels, the potential bridal jewellery market is expected to grow, driven by diverse ethnic, multicultural, and LGBTQIA+ couples.
Signet's data reveals a preference for natural diamonds among multicultural couples, reinforcing the positive life-impacting messages of the new campaign.
Economic and Environmental Impact
Cook highlighted the significant role De Beers has played in Botswana’s development, transforming it into one of Africa’s wealthiest nations. Additionally, De Beers is committed to environmental sustainability, protecting more land than they disturb through their mining operations.
Drosos emphasized the importance of correcting misconceptions about the environmental impact of lab-grown diamonds. “There is misinformation that makes consumers think lab-created diamonds are a better environmental choice,” she said, noting that lab-grown diamonds require significant fossil fuel energy.
Rarity Equals Value
De Beers and Signet will leverage their marketing expertise to highlight the rarity and lasting value of natural diamonds. “Natural diamonds are unique and rare. They have specialness, legacy value, and hold their financial value,” Drosos said. Cook added, “Unlike lab-growns, natural diamonds are limited in supply, making them more precious.”
Signet’s internal data shows that nearly 90% of their employees choose natural diamonds over lab-grown ones for their own purchases, indicating a strong preference among jewellery insiders.
The collaboration aims to convey this insider knowledge to a wider consumer market, emphasizing the enduring value and specialness of natural diamonds, especially for significant purchases like engagement rings.
A Unique Partnership
Cook described the partnership with Signet as groundbreaking, providing valuable insights across the entire diamond supply chain. For Signet, it represents a new chapter in engaging customers at the start of their lifelong jewellery journey.
“This collaboration goes deeper than what we’ve done before,” Drosos concluded. “It’s a new layer of marketing collaboration to help us understand consumer trends and influence the future of natural diamonds in the jewellery industry."
