The U.S. Federal Trade Commission said on Tuesday that it has sent warning letters to eight companies to insist that they distinguish in advertisements between diamonds that come from mines or laboratories.
Facing slowing global demand for diamond jewellery, international diamond companies are reshaping marketing campaigns to tap a growing pool of independent female spenders in China, the world's second largest economy.
Anglo American's diamond unit De Beers will keep its diamond exploration budget steady at $35 million in 2017, the company said, although it has turned to new technology to try to improve the rate of discoveries.
International diamond producers on Friday unveiled a new marketing slogan "Real is Rare" to reach out to a younger generation of buyers, although major producer De Beers says diamonds will always be forever.
The Diamond Producers' Association, set up last year, to spur demand, will launch a slogan early in June to replace "diamonds are forever", viewed as one of the most successful campaigns of all time but in need of upd...