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1 billion. Over those 4 decades, the business's ad 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 online marketers showed extremely adaptable at molding public perceptions. When the U.S. engagement market seemed tapped out, a brand-new campaign promoted the gift of a 2nd diamond as a way to declare romance 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 sought to expand internationally in the mid-1960s, it didn't flinch at going into markets like Japan's, where a deeply rooted tradition of organized marital relationships left little space 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 worths." In 1967, when the campaign began, less than 5 percent of betrothed Japanese women had a diamond engagement ring.

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De Beers invoked "a billion-dollar-a-year diamond market in Japan, where matrimonial custom-made had made it through feudal transformations, world wars, industrialization, and even the American occupation," Epstein marvels.  Research It Here  had even more success in Japan than it performed in other nations like Brazil, where both women and guys generally use an easy band on their right-hand man while engaged and change the ring to their left hand when married.

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The practice hardly existed in the nation in the 1990s. Citigroup/De Beers, A 2014 report by Bain & Company similarly noted that China, India, and the United States will drive most of development in diamond-jewelry consumption over the next decade, 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 industry, though it's not as dominant as it as soon as was.