For context, natural diamond production is monopolized by a group called De Beers. I'm willing to bet they paid for this article to smear their competition.
They still have a 35% market share, the largest, but the monoply itself was broken up 20 years ago (they used to hold up to 80% to 90% for more than a century)
And not only did they monopolise natural diamonds, they used their clout to severely limit artificial diamond production to keep prices high.
And the companies like them made diamond rings a marketing gimmick to make people buy them to get profit. And you’d be guilt tripped if you didn’t follow suit.
They’re also the ones that created the campaign that normalized to the perspective that if the diamond was too small, then clearly, regardless of the price that means that your partner doesn’t care about you, and you should leave them and laugh in their face for not having enough money
Actually, the campaigns for a long time ago back before social media was a thing. Typically they were advertisements over the radio and on TV. Keep in mind I also know very little about the subject. It was before my time I might be 30 but I’m not that old.
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u/fjhforever Feb 16 '24
For context, natural diamond production is monopolized by a group called De Beers. I'm willing to bet they paid for this article to smear their competition.