Man’s best friend might be a dog but it’s no secret that diamonds are a woman’s most prized companion. We’ve seen trends in jewellery come and go; from stacking Cartier Love bracelets to floating diamond necklaces and colourful Bea Bongiasca rings. But we at GRAZIA like to always be one step ahead before trends start to flood all across our feeds, so we spoke to an industry expert to tell us his predictions for jewellery trends this year and hear what he has to say about the industry as a whole.
In recent years, jewellery brands have faced criticism regarding the ethical mining of diamonds and their unsustainable practices. We spoke to Mr. Sachin Jain, Managing Director, De Beers India, who had no issue answering our questions regarding the company’s practices. Scroll down to read the full interview.
What trends are you expecting to emerge this year in the jewellery market?
Over the past few months, we have noticed that consumers have evolved, they have grown to appreciate & purchase items that bring meaning to their lives. Things that hold value and have a purpose in their lives is primarily taking precedence over other items. With the inherent quality of preciousness that natural diamonds possess, we are sure to see a rise in the affinity towards the gem. Moreover, as consumers are moving towards these purchases, they are looking for more everyday wear delicate jewellery. Keeping this sentiment in mind, we have recently launched the Forevermark Avaanti Collection. Each piece in this collection features a De Beers Forevermark diamond at its centre and sweeps around like a ripple, symbolising the start of something new.
Where do you find inspiration from when your designers create new pieces?
Each year, our Design and Innovation Centre in Milan do an in-depth global study on the trends emerging around the world in all aspects of art, culture, sport, nature, etc. As the consumer landscape undergoes significant change, a desire to invest in purchases that are meaningful and have enduring value, are more important than ever. Each year our design centre identifies four key themes which guide the design sentiment and direction for the coming year. This is released as a global trend book across our markets.
What do you think of the heightened backlash jewellery brands have received in recent years regarding their unsustainable and unethical practices?
Sustainable luxury is the need of the hour. In fact, at De Beers sustainability is at the core of our business. From the formation of our diamonds over billions of years ago to the timeless emotions they represent, diamonds are the closest thing to forever that we can hold in our hands. De Beers Group is committed to what we call ‘Building Forever,’ ensuring we are creating a positive lasting legacy that will endure well beyond the recovery of our last diamond. It is our blueprint to a better future – one that is fairer, safer, cleaner and healthier, where safety, human rights and ethical integrity continue to be paramount, where communities thrive, and where the environment is protected. For example: De Beers and National Geographic have a strategic partnership to address one of the most critical conservation challenges in Africa. The five-year commitment, helps protect Africa’s endangered species, ensuring water and food security for more than one million people and develop livelihood opportunities for 10,000 people. The partnership is focused on working hand-in-hand with communities throughout the Okavango to deliver shared ecological solutions that lead to collective economic opportunity.
What is De Beers’ strategy to acquire diamonds ethically? What is your sourcing procedure?
In 2005, De Beers launched a set of standards that the industry had never seen: the Best Practice Principles (BPPs) Assurance Programme.
The BPPs ensure that all De Beers Group diamonds can be trusted to be conflict-free, abide by international human rights frameworks and labour regulations, alongside further rigorous ethical, social, and environmental requirements. These standards apply throughout our value chain from exploration to retail, not only within own operations but as a mandatory requirement for all those doing business with the brand.
Where do you see the future of the diamond industry heading towards in the next 10 years?
De Beers Forevermark is tremendously positive on the future of the diamond industry. The growth trajectory has been very solid for the industry in the past year and with the onset of this new year, brands are upbeat about demand for diamonds and designs globally. We see the demand increasing year on year.
In fact, in the post-Covid realm, real meaningful things have taken precedence where luxury and sustainable jewellery have become the most preferred gifting option. Consumers are looking at fewer but better pieces and natural diamonds hold that value.
Most jewellery and diamond brands campaigns are centred about love, what makes your latest campaign, ‘I do,’ different?
De Beers recently rolled out its new global campaign celebrating commitment and purpose in 2021. We aimed to redefine the meaning of the two iconic words – ‘I do.’ The campaign centers on the commitment to ourselves, and a personal pledge of all kinds: to love, friendship, family, society, nature and more.
We took this traditional statement representing commitment and symbolised through diamonds to a bold new place. The statement ‘I do.’ is one of the most significant and time-honoured expressions of intent. But ‘I do.’ can mean much more than a romantic commitment to someone else. Today, ‘I do.’ embodies a new generation of consumers, who value commitments not only through timeless wedding vows, but to all the things they care about – love, friendship, family, passion, society, nature and more.
The ‘I do’ campaign speaks about the commitment the new generation, millennial and Gen Z consumers believe. With the campaign, the commitment is re-imagined and extended to mean so much more.
