The Dubai Diamond Exchange (DDE) will tackle the issue of ‘How diamonds fit in the new era of Millennials’ with moderators Dr T.B. (Mac) McClelland Jr., President & CEO - Middle East, The Luxury Marketing Council; and Tim Dabson, formerly a De Beers executive, on the first day of the October 16-17 conference.
According to recent research by De Beers, Millennials are approaching both money and marriage differently which is affecting their spending habits.
The panelists include Jean-Marc Lieberherr, Chief Executive Officer, Diamond Producers Association; Amit Dhamani, CEO and Managing Director, Dhamani Jewels; Rajiv Mehta, Director, Dimexon International; Kolia Neveux, Managing Director - Middle East & Africa, Bulgari. They will discuss how to appeal to the younger generation born between approximately 1980 and 2015.
With an estimated spending power of $65 billion in the United States alone, Millennials are a critical market segment that the diamond industry is appealing to with a range of advertising and programs.
The conference takes place in Dubai's Almas Tower, the home of the Dubai Diamond Exchange, on October 16-17, and will bring together international leaders of the diamond industry ranging from African Ministers to traders, financiers and world-renowned jewelers.
Peter Meeus, Chairman, Dubai Diamond Exchange, said: "Dubai is an established part of the diamond community and a much needed gateway to the Middle Eastern retail market. We keep adapting to market demand, and the topic surrounding millennials and their buying trends is certainly calling for a shift in industry marketing strategies. We look forward to learning more about this topic in October as we bring together over 350 stakeholders to discuss challenges and opportunities facing the trade today.”