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| S&R Designs |
Over the past several years, the shift in the diamond jewelry market has been seismic. For many years, De Beers supported the diamond industry with an umbrella marketing campaign that focused on the diamond engagement ring or another beacon piece of jewelry. It was so ingrained in the U.S. culture to have a diamond engagement ring that approximately 85 percent of all brides were given one. But times have shifted. De Beers is no longer the big daddy of the industry that it once was, there is no overarching advertising for the diamond industry, the marriage rate has declined and the economy has been shaky. On the plus side, the female self-purchaser has been on the rise. While there is still stable demand for diamond engagement rings and that part of the business is a stronghold of the industry, there is more of a move into diamonds as a fashion item. Why? Well, for one thing, when the economy crashed, designers had to do something to stay in business — and so the nature of diamonds changed. The overlooked opaque and off-color diamonds began to be used in designs that were fashion forward and affordable…perfect for the self-purchasing woman who wants some sparkle in her life. Celebrities on the red carpet today are wearing armloads of diamond bangles and fabulous large openwork diamond earrings, two looks that are easily translated for everyday consumers. Stacking one diamond bangle and adding to the collection over time makes it attainable and it is a look that transitions easily from day to evening. More melee in designs makes for beautiful, appealing patterns and a pleasing price point. While the basics will never be replaced, the rise of well-priced, design-oriented diamond jewelry is a nice way to diversify rather than putting all the diamonds in the engagement ring bouquet. Article from the Rapaport Magazine - September 2013. To subscribe click here.