De Beers has announced the schedule for the staggered worldwide launch its proprietary Forevermark branded diamonds. ‘Launch’ is something of a misnomer, as these goods have been available to consumers in various parts of the world, including India, for some time now. The fact is, De Beers was only testing the waters until now. With the enthusiastic response it has received from consumers everywhere, the Forevermark is guaranteed a great formal launch.

What’s significant about theForevermark, though, is that it signals the beginning of something really new for diamonds – and the beginning of the end of an old idea.

What most people – including many in the diamond industry – don’t realise is that diamonds don’t have any value of themselves. De Beers created that value with its umbrella advertising. Diamonds as a whole became a brand, the symbol of the special relationship between men and women. Since De Beers controlled almost all the world’s gem diamonds back then, this was just fine.

Now, under 40% of the world’s diamonds pass through the De Beers system. De Beers has, naturally, lost interest in promoting the generic diamond brand. The Forevermark is its game plan for the future, building value for only those diamonds it controls.

With Gemesis at the other end putting in a major effort into branding its lab-grown diamonds, the world will soon be carved up into specific brand camps. Everybody else will be left with lots of nice shiny stones. Diamonds will not be a resource just because any one country or company has access to them. They will have to be created into one.

The scary part is that most of those who will be left with the shiny stones are the people who need the premiums that a special brand can bring – some of the neediest countries in the world. Beneficiation won’t be worth anything unless the brand value of the diamond itself is built up. This is an extremely expensive business that also calls for great global market savvy. As with all market-related ventures, it also comes with no guarantee of success.