Although their influence is now somewhat diminished, for more than a century they ran a text book marketing campaign that ensured they earned vastly inflated prices for their shiny little rocks - first
by buying up the newly discovered South African
diamond mines so that they effectively controlled the market, then
by creating the impression of scarcity
by ruthlessly controlling supplies; and then, in their pièce de résistance, commissioning one of the most successful marketing campaigns in history to create the tradition of giving
diamonds as engagement gifts; which includes the famous «
diamonds are forever» advertising campaign and
sponsoring movies such as Gentleman Prefer Blonds (1953), To Catch A Thief (1955) and The Pink Panther (1963).
Global Witness was co-nominated for the 2003 Nobel Peace Prize for its leading work on conflict
diamonds and awarded the 2007 Commitment to Development Ideas in Action Award,
sponsored jointly
by Washington DC based Center for Global Development and Foreign Policy magazine.