Past hardships of the United States economic crisis brought about hope to the present political administration that the future of our current economic standing will turnaround. As the De Beers Group, Tiffany’s and LVMH Moët Hennessy seek to expand profit margins in the coming years, innovative marketing strategies are currently being implemented. With high stakes in sought after African mines these jewelers are cutting and polishing their own diamonds; making sure that each consumer receives a quality cut and polished diamond from certified trained employees in Africa.
Producing conflict free diamonds, this outsourcing has many jewelry executives skeptical. Apprehensive of the combination of contrasting fields, mining operations and high end retail marketing, executives feel that both fields require a tremendous amount of expertise and infrastructure. Jewelry executive, Even-Zohar states that, “Vertical integration sounds great from a promotion and marketing perspective. But more often than not it doesn’t make economic sense.”
As a consumer I am ecstatic to hear about strategic production trends in fine jewelry, creating quality diamonds for consumers like myself. I can only be hopeful that their hard work will not only be profitable for the consumer but for these fine jewelers as well.
*Photo Credit: Tiffany.com
