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DTC releasing more money for holiday ads

August 26, 2008

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London—The Diamond Trading Co. (DTC) is releasing a "special allocation" of co-op marketing funds to help boost U.S. holiday sales of diamond jewelry for a select group of sightholders.

According to DTC spokeswoman Louise Prior, the funds came as the result of a request from sightholders for more marketing support for their retailers during the fourth quarter this year.

"These financial contributions will help support marketing initiatives with the sightholders' chosen downstream partners to grow consumer demand for diamond jewelry during the last quarter of this year," Prior said.

She pointed out that the funds are not part of any kind of generic marketing campaign for diamonds.

The DTC, which is the marketing arm of diamond giant De Beers, has cut back on generic diamond advertising recently because De Beers no longer controls the majority of the world's supply of diamonds.

In fact, back in January, De Beers announced it was slashing its U.S. marketing budget and letting go of 11 employees who work on the DTC account at New York-based advertising firm JWT.

Prior would not release the names of the sightholders who received the extra marketing funds or specifics on the amount allocated. She only commented that the funds went to sightholders who "fulfilled a set of objective marketing, goods and Best Practice Principles-focused criteria."

The DTC informed sightholders who qualified for the funds this week.
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