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DPA Hikes Annual Budget to $57M
Jun 5, 2017 5:26 AM
By Rapaport News
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RAPAPORT... The Diamond Producers Association (DPA) has increased its
budget more than fourfold, enabling the marketing body to expand its activities
in the second half of this year.
The DPA’s directors have approved $57 million of funding for
marketing projects in 2017, the organization announced Sunday ahead of the JCK
Las Vegas show. Some $50 million of this is earmarked for the US market,
enabling it to launch its “Real Is Rare” campaign in full, it explained.
“The board’s decision is a major turning point for the
Diamond Producers Association and the diamond industry,” said DPA chairman Stephen
Lussier. “All board members are aligned behind the goals and plans of the DPA,
which is now fully equipped to fulfill its mission of communicating to
next-generation consumers about the timeless beauty and emotional value of
diamonds.”
With the increased budget, the DPA plans to produce
multi-channel advertising, digital marketing programs and public-relations
campaigns in the remainder of 2017, added Jean-Marc Lieberherr, the DPA’s CEO.
An alliance of major rough producers, including De Beers and
Alrosa, set up the DPA in 2015 to market diamonds on a generic level. Last year,
the group launched the “Real Is Rare” advertising campaign, which aimed to make
diamonds attractive to millennials by appealing to the generation’s desire for authentic
experiences. The DPA aired a television advertisement during the Oscars in
February this year and at the MTV Movie & TV Awards in May. It also appointed
a creative agency in India to handle its expansion of “Real Is Rare” into the
country, and plans to launch there in September.
The association will debut its print, outdoor and digital
display on Tuesday at the JCK show, it said. A new video campaign will begin in
the fourth quarter, as will a retail training-support program focusing on
telling the diamond story.
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Tags:
advertising, Alrosa, De Beers, Diamond Producers Association, Dpa, JCK Las Vegas, Jean-Marc Lieberherr, marketing, Oscars, Rapaport News, Real is Rare, Stephen Lussier, US
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