The De Beers Group announced on Tuesday that it is going to invest more than $140 million in marketing in 2017, Forbes reports.
According to the Group’s statement, their efforts will be predominately focused on three main markets: the U.S., China and India.
The diamond mining and marketing giant wants to increase the consumer demand for diamond jewellery in the leading markets.
Most of the advertising budget will be spent to support De Beers’ proprietary brands — Forevermark and De Beers Diamond Jewellers.
“Increasing our spend from a strong position will help support continued demand in both mature and developing markets, particularly among millennials, who are already the largest group of diamond consumers despite this generation not having yet reached its maximum earning potential,” said Stephen Lussier, De Beers Group’s executive VP of Marketing and CEO of Forevermark.