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 Diamonds offer dream to buyers
P:  12/6/2002 9:44:47 AM  
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 		The StarPhoenix:

"We're really selling a dream and not a product," said Richard Molyneux, president and CEO of De Beers Canada Inc.

...

He said the industry has also been slow to create marketing alliances so that brand names get put on diamonds.

In the future, the hope is that companies in other luxury consumer areas, such as Chanel, Gucci, and Hermes, will be convinced to put their names on diamonds.

Molyneux told the geologists that diamond prices aren't expected to drop in the future, as some of the existing world diamond producers are seeing declining production. In fact, it is only in Canada where the mining industry is gearing up to deliver more diamonds to the world market.

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Posted:  12/6/2002 9:44:47 AM

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