j walter thompson

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When Charles, Prince of Wales decided to seek the hand of Lady Diana, diamond was not even in the running. Rumor has it that a call went out for a perfect ruby above six carats to consummate the royal betrothal. So rare is the pigeon blood stone that a suitable candidate could not be found. Instead the Prince made due with an eighteen carat sapphire reportedly from Sri Lanka.

Though the British royal family is not known as tight, the royals are justly admired for their sophistication, knowledge of gemstones and their desire squeeze full value from every, er, pound. Yet historically diamond is not been the gem of choice; aside from Diana, Princess Anne received a sapphire and Andrew gave Fergie a ruby. Do their Royal Highnesses know something we don’t?

Could it be the hype? Diamonds are touted as the “traditional” engagement stone but, whose tradition? The fact is that it all began in 1939 when Harry Openheimer the president of the De Beers cartel visited New York to meet with Gerold M. Lauck the president of N.W. Ayer, a leading advertising agency.

The value of diamond sales had declined 50% by the end of World War I and Openheimer was determined to do something about it, Lauck’s suggestion; manufacture a tradition. So successful was the campaign that in 1967 De Beers hired J. Walter Thompson to create a similar “tradition” in Japan, a country with absolutely no history of diamond giving. As a result, today over 90% of all Japanese women receive a diamond engagement ring.

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