Release the Diamond Marketing Funds

Avi Krawitz
Oct 15
2 min read

Amid the flurry of holiday marketing activity, one notable silence stands out — that of the Natural Diamond Council (NDC).

The NDC hasn’t launched a holiday campaign because it simply doesn’t have the funds to do so. Commitments made under the Luanda Accord in July have yet to be fulfilled.

That agreement saw governments and industry bodies pledge 1% of the value of rough diamond sales to finance a global marketing effort promoting natural diamonds. The funds were meant to flow to the NDC, which would lead the campaign. Signatories included Angola, Botswana, South Africa, Namibia, and the DRC, along with support from industry stakeholders De Beers, the Antwerp World Diamond Centre (AWDC), the Dubai Diamond Exchange, and India’s Gem & Jewellery Export Promotion Council (GJEPC).

At the time, Angola also pledged $8 million to the NDC — an amount De Beers agreed to match — with total contributions expected to exceed $100 million. Yet as of mid-October, the NDC has not received any of the pledged funds.

To their credit, AWDC chair Isidore Mörsel and vice chair Ravi Bhansali sounded the alarm in an open letter published last week, warning that the lack of progress threatens to derail the initiative before it even begins. The NDC, they stressed, was to use the funds to “educate consumers, inspire the next generation, and clearly distinguish natural diamonds from synthetics.”

That effort would start with a campaign for the holiday period. And “the clock is ticking,” they wrote, “as we’re entering the most crucial season of the year. Time is exactly what we do not have. Every delay weakens the credibility of the commitment we all made together.”

They urged the Luanda Accord signatories to take the next decisive step: release the pledged funds, activate the agreed framework, and begin the campaign.

Now, as De Beers moves ahead with its Desert Diamonds “beacon” program for jewelers and its new retailer-education initiative — while trade bodies such as the Responsible Jewellery Council (RJC) and the World Federation of Diamond Bourses (WFDB) unveiled their own marketing efforts, and retail jewelers roll out their holiday messaging — the industry still lacks a centralized, coordinated marketing voice. Not just for this holiday season, but as a year-round reminder of the value and meaning behind natural diamonds.

Let’s hope the urgency that fueled the Luanda Accord hasn’t been lost. The need to stimulate demand is even greater today than it was just four months ago. Indeed, the clock is ticking — and the industry must now prioritize its investment in marketing natural diamonds. Release the funds.

This blog first appeared in the October 13 Pressing Matters Executive Memo. Read the full memo here, Pressing Matters, featuring the following sections:

Deep Dive: De Beers Urges Desert Diamonds Collaboration
Chart Check: Botswana’s Diamond Exports Stable After Slump
What I’m Watching: President Duma’s BBC interview
The News That Matters
The Week Ahead
Pic of the Week: Harry Winston’s Talk to Me high jewelry collection.