De Beers For Diamond Sales To Expand Tourism Market

According to the world clothing and shoe net, the new wave of high-end luxury tourism in China poses an unexpected threat to the diamond industry valued at $80 billion.

The world's largest diamond producer De Beers SA (Day Beers, hereinafter referred to as De Beers) CEO Bruce Cleaver said: "China's luxury tourism expenditure has become the main competitor of China's diamond sales industry. De Beers began to take an active part in tourism in order to win more diamond sales. market I hope to get a share. "

On Thursday, Bruce Cleaver said in an interview in Hongkong: "De Beers is looking for the possibility of linking luxury tourism with diamond producing areas in Africa."

In the past 6 years, the price of polishing diamonds has plummeted, and De Beers has begun to seek new growth opportunities. According to the report, sales of major Asian markets (including China and India) in De Beers have remained stable or slightly decreased in 2016. More and more young Chinese consumers spend more money on high-end electronics, travel and high gourmet foods than precious jewellery.

According to an industry report released on Thursday by De Beers, the demand for diamonds in the world is basically flat in 2016. The 4.4% increase in the US market offset the downturn in the Asian market.

Bruce Cleaver said: "in the first half of 2017, sales in China and India have improved, achieving a double-digit growth year on year. Due to the improvement of the global economic situation, the growth of these countries is expected to increase in the next five years. Japan's growth rate will be slightly lower than that of the Asian average due to population ageing. "

De Beers spent $140 million on Diamond advertising this year, reaching its highest level since 2008. The company focuses on women's market, especially women aged 18 to 33. The company believes that when the economic strength of these groups grows with age, they will buy diamonds for themselves.

It is not easy to win these consumers. Especially in China, sales of diamonds fell by 4.8% over the same period last year. Competition from tourism is a big challenge. According to statistics from the World Tourism Organization, China has become the largest source country of outbound travellers in the world. In 2016, the number of tourists in China reached 135 million, and tourism expenditure increased by 12% to 2610 billion. Wealthy Chinese tourists buy more Louis Vuitton (LV) handbags and Gucci Lok shoes at home instead of overseas. Luxury goods 。

De Beers also faces competition threats from Chinese jewelers such as Zhou Dafu. These companies offer low price fashion accessories to attract Chinese consumers.

Bruce Cleaver said: "we still maintain a positive attitude, our brand must adapt to the future."

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