Diamonds are more than just an epitome of elegance and luxury for today’s consumers. Amid life-altering challenges, advancements in technology and evolving social conventions, diamonds now symbolise broader and deeper meanings. 

De Beers – the company behind the influential ‘A Diamond is Forever’ slogan – recently unveiled a global campaign that highlights the new meaning of ‘I Do’ among modern consumers.
 
The initiative aims to portray diamonds as having a more extensive role in people’s lives today more than ever as these help them celebrate not only romantic partnerships but a commitment to growth in all aspects of their lives, including personal development, relationships with family and friends, and love for nature.

De Beers CEO Bruce Cleaver underscored the expanded meaning of ‘I do.’ “Diamonds have a broader spectrum of meaning than ever before. With our new 'one De Beers' vision, which encapsulates the essence of our brand’s purpose and enables consumers to interact with it in new ways, we see an exciting opportunity to shape the future of diamonds,” he noted.

This lends credence to the findings of a recent Bain & Co study, which predicted a stronger luxury sector by end-2021 as demand for high-end clothing, shoes and jewellery continues to gain ground. 

According to the research, the personal luxury goods industry is estimated to reach EUR283 billion (around US$324 billion) by yearend, up 1 per cent from 2019. Local consumption in China and the US alongside ecommerce growth are fuelling growth in luxury businesses, the company further revealed.