Retail & Technology

De Beers takes Friendship Day into 60 Indian stores

The second edition of Love, from Bestie runs August 1 and 2 across 60 retail partners in nine cities, built on four paired natural diamond bracelets, one spelling BFF in Morse code.

By The Counter Desk

What changed

De Beers is spending this weekend trying to sell diamonds to people who are not in love. Its India arm has launched the second edition of Love, from Bestie, an experiential campaign running today and tomorrow across 60 retail partner stores in nine cities, Forevermark outlets among them.

What it means

  • A two-day campaign in 60 doors is small, and the number that matters is whether it runs again in a third year. Category marketing works by repetition, not by novelty, and the diamond trade's long problem in India is that it owns one occasion and rents the rest.
  • A second edition means last year's version cleared enough stock to justify the spend, which is more evidence than most campaigns in this trade ever produce. What nobody has published is a sell-through figure, and until someone does, this remains a good idea with no scoreboard.

Key figures

retail partner stores60
cities9
days, August 1 and 22
paired bracelet designs4

Source: Love, from Bestie

Two days, sixty doors

Mumbai, Delhi, Bengaluru, Chennai, Pune, Kanpur, Kochi, Coimbatore and Nagpur are on the list. The occasion is Friendship Day, which in India falls on the first Sunday of August.

The product is designed around the premise. Four natural diamond bracelet designs are made to be worn in pairs, including a signature piece that spells BFF in Morse code using baguette and round stones, and interlocking and split-circle motifs. Buying one is buying two, which is the whole commercial idea.

The in-store programme runs to three stations: nail art, a bag charm each duo makes for the other, and a photograph with a signed Bestie Contract.

retail partner stores60

Indian jewellery demand, second quarter

Q2 202588.8t
Q2 202675.1t

Source: Love, from Bestie

Buying one is buying two

The reason this is more than a promotion is arithmetic. Indian jewellery demand fell 15% by weight in the second quarter, to 75.1 tonnes from 88.8 tonnes, while the value of that demand rose about 50% on record gold prices.

A counter selling fewer, dearer pieces needs occasions, and the Indian calendar's diamond occasions are overwhelmingly bridal. Friendship Day is an attempt to manufacture a second one at a lower ticket, in the gap between the summer trough and the festive build into Dhanteras.

Indian jewellery demand, second quarter
Figure
Q2 202588.8t
Q2 202675.1t

Tonnes. The demand backdrop the campaign is selling into. Carat Capital graphics desk.

An occasion, manufactured

It also puts the natural category in front of the buyer most exposed to the alternative. Young Indian consumers are the group that lab-grown marketing has moved fastest, and a bracelet bought for a friend is exactly the discretionary, non-bridal purchase where a grown stone's price argument works best.

De Beers is answering with rarity rather than price, running a second edition of a campaign in the same week that Russia moved to strip synthetic stones of the word diamond entirely.

The story so far

  1. India buys 15% less
  2. India buys the dip as gold falls ten percent
  3. Chow Tai Fook up fifteen, and gold by the gram did it

Go deeper

Method

Tonnes. The demand backdrop the campaign is selling into.

Sources4