It will fund a full launch of the group's 'Real Is Rare' campaign.
LAS VEGAS — The Diamond Producers Association has announced a 2017 marketing investment of $57 million.
The total more than quadruples last year's budget, the group said.
Stephen Lussier, DPA's chairman, said: "The Board's decision is a major turning point for the Diamond Producers Association and the diamond industry. All Board Members are aligned behind the goals and plans of the DPA, which is now fully equipped to fulfill its mission of communicating to next generation consumers about the timeless beauty and emotional value of diamonds."
He added: "We look forward to working closely with the diamond and jewelry trade and with other industry organizations to build a stronger future for our sector."
Jean-Marc Lieberherr, CEO of DPA, said plans for the second half of the year include "multichannel advertising, innovative digital programs, and high-impact PR campaigns."
Lieberherr said $50 million in investment is tied to the U.S. market. That includes the full-scale launch of the "Real Is Rare" campaign directed at millennials.
DPA has also built a team to launch "Real Is Rare" in India in September.
New print, outdoor and digital display spots for the U.S. are set to debut at JCK on June 6, and a new video campaign will launch in the fourth quarter.
According to DPA: The fully integrated, expanded asset mix will allow visibility of 'Real is Rare' across all major media platforms, including for the first time ever, select outdoor/cinema and print, spread across many verticals, such as bridal, fashion, and lifestyle. The media plan will now extend well beyond TV and digital, which have been in place since October 2016."
Industry advocacy and trade programs have also been developed, and in the fourth quarter, DPA will debut a new retail training support program focused on the new diamond narrative.
Bloomberg reported in January that the DPA had sought a large budget increase in an effort to woo millennials who don't seem to be as interested in diamonds as earlier generations were. The trade group asked for the boost from its supporters, including Alrosa and De Beers, according to the news organization.
Read the full press release