DE BEERS REVOLUTIONIZING DIAMONDS FOR GEN Z: A PARADIGM SHIFT IN SOURCING, ETHICS, & BLOCKCHAIN TECHNOLOGY – INTERVIEW OF CÉLINE ASSIMON, CEO OF DE BEERS JEWELLERS & DE BEERS FOREVERMARK
19th June 2023
Céline Assimon, CEO of De Beers Jewellers and De Beers Forevermark, reveals the brand’s innovative approach to engage Generation Z and Generation Alpha through addressing environmental, social, and governance (ESG) concerns and embracing cutting-edge technologies like blockchain. Assimon highlights the uniqueness of De Beers Jewellers, emphasizing their youthfulness in the industry and their commitment to building upon the rich heritage of established players.
Céline Assimon, CEO of De Beers Jewellers and De Beers Forevermark, says De Beers Jewellers are targeting Gen Z and Gen Alpha by addressing ESG issues and embracing opportunities such as the blockchain. Photos: De Beers
If you are wondering what the future holds for De Beers Jewellers, then look no further than the Ascending Shadows necklace.
The Ascending Shadows necklace from The Alchemist of Light collection
Part of the brand’s latest high jewellery collection, Alchemist of Light, this sweeping necklace is an architectural marvel and features 142 separate pieces crafted from brilliant blue aluminium and anodised titanium, embellished with multi-shaped diamonds and green roughs.
“What makes us very different from established players in the high jewellery industry is how young we are,” explains Céline Assimon, CEO of De Beers Jewellers and De Beers Forevermark. De Beers Jewellers was only created in 2017 when the parent company, De Beers Group, bought out an LVMH holding in the previous venture De Beers Diamond Jewellers to take full ownership.
“Whenever you see an exhibition by a century-old brand you will see their many different forms of expression. We need to build on this at De Beers. High jewellery gives us the laboratory and freedom to do this, which is why contributing more is an ambition of mine,” she says.
In Hong Kong for the opening of the brand’s new flagship store on Canton Road, it is Assimon’s first visit to the region since she joined De Beers Jewellers in the middle of the pandemic. It may have been a rocky start to her tenure, but she is now ready to create a new story for the brand – alongside sister label Forevermark, where she was appointed CEO a year later – that is more purpose driven.
“It’s something we have touched upon but not really claimed or put forward in our communications or creative journey. This aspect is critical to me as it makes everything, we do true, whole, and authentic, while opening doors when it comes to creativity,” she says.
The diamond industry has long been controversial, plagued by ethical, environmental, and human rights concerns. De Beers’ position as a supplier as well as creator has meant that it has come under scrutiny perhaps more than its competitors.
However, this has enabled them to pioneer initiatives that may transform the industry. Chief among them is the ESG framework, Building Forever, which sets various goals for 2030, including partnering with local communities and recording every diamond on a specially developed blockchain platform.
This has inspired Assimon’s vision for De Beers Jewellers, where she plans to put the gems’ connection to their source front and centre.
“I want every new collection to connect with the source and celebrate the countries in which we operate, whether it’s in the inspiration, aesthetic or the raw materials. Yes, we are all about beauty, but we also believe that doing good goes hand in hand with it.
“Gen Z and Gen Alphas want to know where and how things are made, and having this access gives us a much more competitive advantage,” she says.
While De Beers Jewellers caters to a more exclusive segment, Assimon believes that younger label Forevermark also has plenty of potential.
Established in 2008, Forevermark was launched to offer quality diamonds with responsible sourcing to a wider audience. As such, many collections are designed in collaboration with partners to suit local tastes and individual styles.
“A total look isn’t what clients aspire to today, so whatever we develop needs to sit within an accumulation of pieces or silhouette that also reflects the competitive environment. The way the client expresses their personality today is by choosing different pieces from different brands. Trends like jewellery stacking are very democratising, which makes our job more interesting,” she says.
An Atomique Solitaire ring from The Alchemist of Light collection
Another segment of the market that she is turning her focus to is bridal. Assimon says that the category was extremely resilient during the pandemic, even though demographics are changing.
“Less people are getting married, but others are having multiple weddings or getting remarried. More and more women are buying their own engagement rings. It gives us more opportunities to change things up and create fresh styles. I think this idea of making a commitment and having a symbol to represent this will always be there,” she says.
While opportunities abound, Assimon is aware of the challenges that face the industry. In the past decade more players have come to the fore, including online retailers such as Blue Nile and even Amazon. This – along with the emergence of lab-grown diamonds – is a change she welcomes.
“Every stone and material we use is natural, so lab-grown diamonds do not fit in our world. Is there space for them in the world? Absolutely. But educating the consumer is critical, and people need to know what they are buying and the price needs to be fair,” she says.
Light Rays chandelier earrings from the The Alchemist of Light collection
“For me there is a big difference in bringing a lab-grown diamond to life as opposed to a natural diamond, which has a positive impact throughout its journey as it’s supporting various communities. Our value proposition is superior.”
In addition to increasing the brand’s footprint in China and the Asia-Pacific, Assimon is also hoping to create a new icon and spirit animal for the brand that will transcend generations in the future.
“Our Portraits of Nature collection is our fastest growing and could be our panther in the future. It is inspired by the monarch butterfly from South Africa, an animal that feels organic to the spirit of the brand. I want to see how far we can take this,” she says.
