The Natural Diamond Council rebrands as The Diamond Collective to revive consumer desire for natural diamonds
Executive summary: The Natural Diamond Council announced its rebrand to The Diamond Collective and unveiled a new strategy to rekindle desire for natural diamonds. The move seeks to counter declining interest in natural diamonds amid competition from lab‑grown stones and shifting consumer preferences.
Who is involved: The Natural Diamond Council (industry association of diamond miners), its member companies, and stakeholders in the natural diamond supply chain.
Likely next: The Collective will launch marketing campaigns and industry initiatives aimed at highlighting rarity and meaning of natural diamonds over the next months.
The Natural Diamond Council announced its transformation into The Diamond Collective, accompanied by a new strategy to rekindle interest in natural diamonds. The initiative highlights the rarity and meaning of natural stones as a counterweight to growing popularity of lab‑grown alternatives. By uniting industry members under a shared ambition, the group aims to influence consumer perception and purchasing behavior.
What's next — scenarios
Successful Emotional Re-positioning (40%)
Natural diamond price stabilization and preserved gross margins for luxury retailers over the next 12 months.
- A measurable 5% increase in natural diamond search interest by Q3 2024
- Major luxury jewelry brands adopting the Collective's marketing messaging in upcoming holiday campaigns
Lab-Grown Market Dominance Accelerates (45%)
Continued compression of natural diamond prices and accelerated pivot of mid-tier jewelry retailers toward lab-grown inventories.
- Major retailers expanding their lab-grown assortment at the expense of natural inventory
- Consumer sentiment surveys showing widening price-gap acceptance for lab-grown stones
Industry Fragmentation and Defunding (15%)
Reduced marketing spend on diamond provenance, leading to a broader loss of jewelry category share to alternative luxury goods.
- Key mining conglomerates withdrawing financial backing from The Diamond Collective
- Public disputes among supply chain members regarding marketing strategy effectiveness
What to watch
- Q2 2024 retail sales reports from major jewelry chains comparing natural vs. lab-grown volume growth
- Adoption rates of The Diamond Collective's new branding assets among independent jewelers by the end of next quarter
- Wholesale price index movements for polished natural diamonds over the next 60 days
Timeline
- — El Natural Diamond Council se relanza como The Diamond Collective (PR Newswire)