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Diamond Jewelry and The Academy Awards
With the recent Academy Awards ceremony now a blip in the rearview mirror, one cannot help but reflect on the tremendous boom of celebrity endorsements of diamond jewelry by specific designer companies.
It amazes me how so many diamond and jewelry companies are literally tripping over each other in an effort to get the Hollywood elite to borrow their designer jewelry pieces for the Oscars.
Understandably, with the heavy media exposure at this high profile event there is a tremendous marketing advantage to be considered. And while it is certainly true that the Red Carpet at the awards show has traditionally been the showcase for the latest in glamour, elegant dresses and sparkling jewelry; it is also true that many jewelry companies are faced with huge headaches in the days leading up to, and right after the awards ceremony.
It is common knowledge in the diamond industry that Actresses are notorious for choosing to wear a certain designer jewelry piece to the ceremonies, only to change their minds right before the show. Designers don't know until the very last minute if their diamond and jewelry creations will actually be worn on the red carpet. Another huge problem is the very common occurence of jewelry pieces being returned post ceremony in very bad shape and in dire need of repair. I've even heard a few stories from collegues of mine in the diamond industry where expensive diamond jewelry pieces were never returned under the false "assumption" of an "unspoken agreeement" that the jewelry item was a gift in return for the celebrity showcasing it at the event.
The bottom line however, is that these gorgeous diamond treasures created by the likes of Harry Winston and Van Cleef have become as much a part of the Awards ceremony as the Oscars itself and creates a buzz that invariably leads to a hike in consumer demand for fine diamonds and designer jewelry.
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