De Beers is cutting its U.S. marketing budget. Sally Morrison of the Diamond Information Center (De Beer's US marketing arm) confirmed to National Jeweler that the cutbacks are related to the perception that the United States is headed into a recession, and that 2008 is expected to be a tough year for everyone.
The news is the latest in a string of bad news for the jewelry industry as a whole, as De Beers always has been known for its robust advertising campaigns. The DIC intends to offset the reduced advertising with more PR -- TIP: that could be good news for you if you've got innovative diamond designs that they can promote in publicity campaigns.
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