The聽Natural Diamond Council聽(NDC), which groups the world鈥檚 seven leading diamond producers, has with China鈥檚 top jewellery retailer Chow Tai Fook to boost demand for mined rocks in the Asian market.
The partnership, the trade organization鈥檚 first collaboration with a retailer, seeks to attract young Chinese customers to naturally produced diamonds.
It also comes as Chow Tai Fook, which has more than 4,500 stores in East Asia and the United States, plans to expand its global footprint.
The partnership, the NDC鈥檚 first collaboration with a retailer, seeks to attract young Chinese customers to naturally produced diamonds
鈥淥ne of our key priorities this year is to work closely with natural diamond retailers to protect and convey the authentic and unique beauty of natural diamonds together,鈥� David Kellie, CEO of the Natural Diamond Council, .
鈥淚 am confident that this partnership will solidify the values of and forge consumers鈥� desire for natural diamonds,鈥� Chan Sai-Cheong, managing director (Mainland China) of Chow Tai Fook Jewellery Group added.
Earlier this month, the world鈥檚 biggest jeweller Pandora dealt a blow to diamond miners by聽announcing it would no longer sell mined gems, but exclusively man-made ones.
Since 2011, when prices peaked thanks to聽China鈥檚 younger shoppers, diamonds have faltered. Lab-grown stones, initially priced confusingly close to the real thing, posed a challenge.
The NDC, until 2020 known as the Diamond Producers Association, focuses on marketing mined rocks and its funded by its members: ALROSA, De Beers, Dominion聽Diamonds, Lucara聽Diamond, Petra聽Diamonds, Rio Tinto and RZM Murowa.