The Natural Diamond Council and Chow Tai Fook — one of many world’s largest jewellery retailers — have unveiled a multi-year partnership to advertise naturally mined diamonds. The partnership will see the 2 entities alternate data and content material across the advertising, merchandising and total promotion of diamonds as Chow Tai Fook seems to be to increase its footing within the diamond retailing market.
Traditionally, Chow Tai Fook has offered jewellery made solely of excessive karat yellow gold — a convention in Chinese jewellery making. But now it seems that the corporate will widen its providing because it seems to be to turn into an much more important participant within the world luxurious market.
David Kellie, chief govt officer for the NDC, stated that this partnership arrives as Chow Tai Fook seems to be to embark on a “significant expansion plan across China in terms of total retail units and in the size of its fine jewelry offering as well.” Chow Tai Fook presently operates 4,500 globally — most of these positioned in China — which makes this the most important retail deal for the NDC to date.
This transfer comes solely weeks after the NDC was dealt a major blow with Pandora — one of many world’s largest jewellery manufacturers — committing to solely utilizing lab-grown diamonds transferring ahead. In response, the NDC issued a proper memo to executives at Pandora, saying they have been deceptive shoppers by calling lab-grown diamonds a extra eco-friendly different to naturally mined stones.
Kellie added that the NDC’s partnership with Chow Tai Fook doesn’t embrace a financial alternate between the 2 entities — and is solely a trade-off of data within the hopes of serving to Chow Tai Fook quickly develop its diamond gross sales, subsequently benefiting the overall diamond mining trade which NDC represents.
“There is no exchange of funds. This is an agreement about how much each of us will invest in marketing and media — there is no exchange of funds, just a commitment from both parties to invest. What we bring to them are advertising campaigns and storytelling behind natural diamonds and a lot of content they don’t have access to. Technically, yes, they could create that themselves but they would rather create that with us to make sure we are unified behind message of strength in natural diamonds. They want to make themselves a destination for natural diamonds,” Kellie stated. He added that the NDC’s web site is presently attracting 100 million guests yearly who’re searching for out details about pure diamonds.
As has been properly documented, the Chinese market is rising its affection for diamonds — significantly diamond engagement rings as a convention. “Things like engagement rings are becoming more of a cultural norm in China,” stated Kellie, who added Chow Tai Fook will proceed to adapt historically Western engagement ring types to swimsuit its native clientele.