Put a Ring on It: A New Wave in the Diamond Industry

A New Wave in the Diamond Industry

In the midst of the issues related to conflict diamond appears Diamond Foundry, a new business backed by Leo DiCaprio. Diamond Foundry produces their diamonds in a lab in America, and, as their website says, “in harmony with nature and humanity.”  They identify their customers as “people who make smart choices that signify quality and meaning over unsustainable convention.”

Diamond Foundry introduces a concept of “morally pure” diamonds. The company emphasizes that their lab-grown diamonds are of highest-quality, certified by professionals, and that the owner can rest assured that his/her gem is not linked to human-right abuses or similar issues.

Diamond Foundry also adds an intimate touch to their products: on their website, one can find names and faces of artisans and designers of all jewelry sold by the company. This strategy goes along with their message of responsible sourcing: they are going a step further by providing their customers with not only  where the diamond came from, but also who made the piece.

Diamond Foundry’s strategy is appealing to a new generation of consumers, who care not just about the brand and the price tag, but also about the story behind the product. The company hopes to set a new trend and gear the customers to buy its lab-created diamonds that come with a promise of ethical sourcing.

Blood Diamond in Africa

In the latter years, blood diamonds have been a topic that pops up when speaking of diamonds and engagement rings. Not just a name for the famous movie starring Leonardo DiCaprio, it’s a real issue in the African continent. Diamond-related conflicts have been devastating to many countries in the region, affecting lives of all people, including women and children.

Although the issue receives a lot more coverage and publicity now, a consumer trend so deeply engrained in the society as diamond engagement rings is not easy to stop. Many of those rings are produced at cost of people’s lives. It is not uncommon for a diamond to go through hands of local war-lords prior to becoming a jewel on a bride-to-be’s finger.

How Diamond Engagement Rings Were Made Popular

After the Great Depression, the business of diamonds was going slow. People were reluctant to pay extra just to own a pretty stone. De Beers then came up with something that would shape the diamond industry for the next century. With the help of Philadelphia-based advertising agency, N.W. Ayer, they launched a campaign to the make the stones set in engagement rings every girl’s must-have.

They successfully portrayed diamonds as symbol of eternal love, running their catchphrase “a diamond is forever” in every commercial.

Take a look at this one, for example.

De Beers’ catchy campaigns made inseparable the concepts of “engagement” and “diamond rings.” The “two monthly income” diamond rings became part of popular culture, helping De Beers’ revenue go up 55% between 1938 and 1941, according to a Quartz’ article.

 

Korean Culture in America: From Skincare to GDP Growth

Korea is exporting more products to the US, and it’s not just cars and electronics

In the past years, Korean brands have become hugely popular in the US. Starting from skincare and moving on to apparel, especially streetwear brands, the trends and products from this Asian country are establishing a niche in the US market.

The Korean Skincare Trend

In the beauty world, Korea is renowned for its 10-step skincare routine. The extensive routine is explained by the fact that Korean beauty-followers value having a glowing, healthy skin and a natural look over layers of glamorous makeup. In America, on the contrary, the contouring makeup that aims to dramatically emphasize one’s facial features is more popular, thanks to the Kardashians.

However, the no-makeup look has been gaining popularity in recent years. With the help of beauty-pioneers and blogs like Into The Gloss, American women are opting out of noticeable makeup and instead promoting healthy, dewy skin, bushy eyebrows, and natural-looking rosy cheeks. Big beauty retailers are there to help the transition: Sephora has its own featured section of Korean skincare and makeup.

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The popularity of Korean skincare is also reflected in the Korea’s GDP growth. According to an article in The Cut, last year, for the first time, “Korea exported more beauty products ($1.067 billion) than it imported ($978 million).”

According to the Korea Customs Service, the total export value of Korean beauty products to the U.S. was $52 million in the first half of 2015, increasing 60 percent from last year. America is the third biggest export market for Korean cosmetics companies, after China and Hong Kong, says an article on the online publication Fusion.

Beyond Skincare

Along with skincare, the Korean apparel is also entering the US market. The indie fashion boutiques, such as Opening Ceremony, are catering Korean streetwear brands like Steve J. & Yoni P.

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Recently, a Korean eyewear brand Gentle Monster opened its first store in New York. The brand is famous for its creative and artsy sunglasses, and has already developed its reputation in Asia. More celebrities are getting a hold of Gentle Monster’s famous frames, as the brand competes with international fashion houses that produce high-end eyewear. Beyond its physical store, Gentle Monster is also featured in big online retailers like Nordstrom.

 

 

 

Lululemon: Making Athleisure a World-Wide Trend

When yoga pants and sneakers made their way to everyone’s closet as work-out wear in mid-2000s, not many expected those to become deeply engrained in the casual-wear scene of the 2010s.

By 2016, people started talking about athleisure – clothing that one can wear both to the gym, casually, and also on a night out – as a new wave in fashion. Along with it, they talked about Lululemon, which became the brand for athleisure clothing.

What makes Lululemon stand out?

First of all, their product. Not simply expensive yoga pants and work out clothing, Lululemon creates clothing functional and comfortable enough for the gym, but aesthetically pleasing enough to wear to your best friend’s engagement dinner. Take, for example, their athleisure men’s blazer.

Secondly, Lululemon has a unique brand message. They don’t try to be the next Nike or Under Armour, they don’t feature famous athletes in motivational million-dollar commercials. Lululemon ads focus on the individual – a modern person who cares about health and wellness. For example, a hip, green-smoothies-drinking, work-life-balance-valuing millennial. Lululemon’s ads use the words like “mindfulness” and “self-awareness”. The brand emphasizes exercising for the sake of one’s own wellbeing, unlike Under Armour, who focuses on being competitive and winning “the game”.

Lastly, Lululemon receives praise for its community engagement. On its website, there is a community tab with information on yoga festivals and retreats, videos and tips on how to release tension, reports on their sustainability efforts, and others. Lululemon also has a blog and allows its followers to share their stories and experience within the community.

 

These three factors create appeal to the modern consumer who looks beyond just product and price, and who cares about story, culture, and company’s social responsibility. They make Lululemon the name people think of when speaking of athleisure; and the fame does help their financials: according to an article on the online-publication Benzinga, Lululemon might be able to exceed their plan to double their revenue to $4 billion by 2020.

Brand History

Lululemon was founded in 1998 by Chip Wilson and is based in Vancouver, Canada. In 2001, the company began selling yoga wear and athletic apparel.They currently sell their clothing internationally. According to Wikipedia, their key competitors include Athleta, Nike and Under Armour.

Glossier: A Game-Changer in the Skincare Industry

On one uneventful day, as I was scrolling through my Facebook feed, a sponsored skincare ad caught my attention. That was how I came to know about Glossier, a new player in the beauty-products market. I checked the website and quickly realized that this brand is setting trends in the industry and is worth following.

There are 3 ways Glossier is changing the landscape of the skincare industry:

  • By simplyfying a skincare routine
  • By creating and developing a community
  • By challenging beauty stereotypes

Simplifying a skincare routine

For years, the beauty industry has been coming up with more and more products to push to consumers, putting pressure on beauty-evangelists to buy new trendy skincare and make up so-called “must-haves”. Glossier, on the contrary, is lifting the layers from one’s skincare routine. It’s Phase 1 Skincare Set contains only a cleanser, a moisturizer, a tint, and a lip balm. Nothing fancy, just the basics – which is perfect for busy young professionals.

Creating a community

Glossier is doing a good job at creating a culture of sharing amongst its consumers, forming a community around its products. The customers give testimonials as if they are confiding to their best friend. The company goes beyond just facilitating conversations, though: they also excel at listening. Using consumer feedback, Glossier then implements the changes to its products based on the reviews, making better products and creating more consumer satisfaction.

Challenging beauty stereotypes

Glossier features natural-looking models and promotes authenticity. They go for a “girl next door” type, instead of glamorous supermodels. Instead of posing with a product, a Glossier girl is shown having fun, applying a mask at home, washing her face. She’s real,she’s confident, she’s approachable.

Above and Beyond

To see the differences in comparison, check out Glossier’s page for its Milky Jelly Cleanser and Kiehl’s page for its Ultra Facial Cleanser. These 2 products are within the same price range, but the companies’ approaches to branding are totally different.

We can see Kiehl’s going with a more traditional approach and features just the product, like most skincare brands do.

Glossier, however, goes beyond that: their product page shows the cleanser in motion, organically squeezed out of the tube and used by real people. It presents the process of skincare as a fun daily ritual, which is more appealing.

 

Glossier’s Background

Glossier was started by Emily Weiss, a beauty-blogger of Into The Gloss, a website with millions of views every months. She curated her blog for 4 years before starting with consumer-products in 2014. In her interview with FASTCOMPANY, an online publication, Emily said that she wanted to create a brand that “really had a conversation with the consumer as opposed to speaking at the consumer.” She mentioned the use of good story telling being in the heart of her business, saying that she and her team are trying to “create the Glossier world around the products”. And it seems that they have succeed.