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1 billion. Over those 4 years, the company's advertisement spending plan skyrocketed from $200,000 to $10 million a year. A 1960 De Beers ad in Reader's Digest (Sensai, Alan/Flickr)De Beers and its marketers proved extremely versatile at molding public understandings. When the U.S. engagement market seemed tapped out, a brand-new project promoted the present of a 2nd diamond as a way to declare love later in marital relationship.

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(Some gambits backfired, like the diamond-ring-for-men misadventure of the 1980s.)And when De Beers looked for to expand internationally in the mid-1960s, it didn't flinch at getting in markets like Japan's, where a deeply rooted tradition of set up marriages left little area for premarital love, not to mention diamond engagement rings. De Beers, Epstein writes, strongly marketed diamond rings in Japan as tokens of "modern-day Western values." In Research It Here , when the campaign started, less than 5 percent of betrothed Japanese women had a diamond engagement ring.

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De Beers conjured up "a billion-dollar-a-year diamond market in Japan, where matrimonial custom-made had actually endured feudal transformations, world wars, industrialization, and even the American occupation," Epstein marvels. De Beers had far more success in Japan than it did in other countries like Brazil, where both ladies and guys normally wear a simple band on their right-hand man while engaged and change the ring to their left hand when wed.

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The practice hardly existed in the nation in the 1990s. Citigroup/De Beers, A 2014 report by Bain & Company similarly kept in mind that China, India, and the United States will drive most of growth in diamond-jewelry consumption over the next years, in part since of growing interest in diamond engagement rings in India and China, and stable interest in the U.S.Bain & Business, De Beers is still a major player in the diamond market, though it's not as dominant as it as soon as was.