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DPA Hikes Annual Budget to $57M

Jun 5, 2017 5:26 AM   By Rapaport News
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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.
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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