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De Beers Pours Cash in Diamond Ads With Biggest Spend Since 2008

  • Diamond miner boosts marketing budget to $140 million in 2017
  • Gem prices have slumped on weaker demand in China and India
An employee inspects unpolished diamonds at the De Beers SA headquarters on Charterhouse Street in London, U.K., on Wednesday, Feb. 1, 2017. Number 17 Charterhouse Street, a fortress in the heart of London, has been De Beers SA’s headquarters since 1979, but the street has been its home since the 1930s. At its peak 90 percent of the world’s diamonds passed through this structure.
Photographer: Simon Dawson/Bloomberg

De Beers is planning to spend more money advertising diamonds than any time in the past decade to win back wealthy shoppers.

The company, a unit of Anglo American Plc, boosted its marketing budget to $140 million this year, the most since 2008, according to a statement on Tuesday. Its three biggest markets, the U.S., China and India, will be the main focus, the company said.