▶ Abram - The campaign was such a hit, De Beers ran it again. This time in Japan. In 1967, when that campaign began, almost no Japanese brides received a diamond. Twenty years later, over 70% of them did. In the 1990s, De Beers turned to China same slogan...Same result. These ads are trying to create demand, and that's not some dirty trick. That's capitalism. ▷ I can convince you that you actually want to buy a pet rock, which, to me, was, like, the dumbest idea in the world, but people were able to be convinced you should value this pet rock. That's why ad companies get paid what they get paid. ▶ Abram - De Beers was just remarkably good at this. But not all De Beers' efforts have been successful. In the 1980s, De Beers tried to get women to buy diamonds for men. That one didn't stick. De Beers tried again to get women to buy diamonds in a 2003 campaign called, "Raise Your Right Hand," with the idea being that an empowered woman would have an engagement ring on her left hand and a diamond ring she bought herself on her right. That one didn't take off, either. Diamonds may be worn by women, but the primary consumers of diamonds are men. For a few years, De Beers commissioned surveys. One question asked if you'd want a diamond ring if it meant forgoing other things. In 1990, only 22% of women said yes, but for men, it was 59%. Many men reported that buying a diamond engagement ring was a mark of adulthood.
▷ I think it is, in some ways, a symbol that I've arrived, and I'm able to make such a significant purchase and kind of take this step. ▶ Abram -This set the stage for De Beers' next play--linking the amount a man spent on a diamond to his professional success. It's become a cultural norm in the United States. The rule of thumb--diamonds should be about two months' salary. De Beers came up with that. In Japan, they came up with three months. That link between diamonds and a man's professional success grew in a way that De Beers may not have anticipated. And rappers started name-dropping their favorite jeweler. ▷ How much value we have here? I would say about 35 milion. I have put diamonds on almost everything. I think I once made a toothbrush in diamonds and gold. It's a sign of success. Like you would say, "Honey, I love you. And this is how much I love you. This is how big I love you." This is a 75-carat...vivid yellow. ▶ Abram - Carat, color. What he's talking about was another play. Number five--define value. If you walk into any diamond store today, they'll probably tell you about the 4Cs. ▷ The 4Cs are the four most important characteristics of a diamond. They represent cut, color, clarity and carat weight, which is the size of your diamond.
