The diamond industry has seen better days, and an article by The Economist has pointed to decreased sales among millennials and tried to explain why that was happening.
And according to millennials, that explanation is all wrong.
The story argues that the movie “Blood Diamond,” starring Leonardo DiCaprio and Djimon Hounsou, brought attention to the morality issues within the diamond industry, and that diamond executives are now fighting to change that image.
William Lamb, Lucara Daimond’s chief executive, told The Economist that he has been trying to “dispel the rumor that all diamonds are bad.”
“That reek of notoriety has clung to the industry in recent years, especially among the millennial generation that came of age as evidence of ‘blood diamonds’ emerged from the war in Sierra Leone in the 1990s,” the article states.
But as the story surfaced, with a tweet from The Economist that asked, “Why aren’t millennials buying diamonds?” young people started weighing in on their reasons. According to them, it has nothing to do with morality and everything to do with finances.
No sign of any response from The Economist to millennials’ critique.