The world's leading diamond company De Beers Group said it will invest over USD 140 million for diamond marketing in India, US and China this year.

  "We are investing more than USD 140 million in marketing this year, which will be biggest spend since 2008."

"The increased investment will be focused on generating further consumer demand for diamond jewellery in the leading markets globally, with the greatest spend targeted in the US, China and India," De Beers said in a statement here.

  While a majority of the investment will support De Beers' proprietary brands, Forevermark and De Beers Diamond Jewellers, the company will increase its spend on partnership marketing, including with the Diamond Producers Association and India's Gem and Jewellery Export Promotion Council as well, it said.

Stephen Lussier, De Beers Group's Executive VP of Marketing and CEO of Forevermark, said, "Total consumer expenditure on diamond jewellery for the last five years collectively has been the highest on record and the outlook is positive. However, we can't take future growth for granted."

  "Increasing our spend from a strong position will help support continued demand in both mature and developing markets, particularly among millennials, who are already the largest group of diamond consumers despite this generation not having yet reached its maximum earning potential," he said.

De Beers Group is a member of the Anglo American Plc group and has expertise in the exploration, mining and marketing of diamonds.

  Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world's largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa.

  De Beers diamond sales down 20% on earlier Diwali

  De Beers, saw its sales decline by 20% during the seventh sale of the year compared with the same period last year due to Diwali being earlier than normal in 2017.

  The Anglo American’s unit, which holds ten sales of rough diamonds a year, reported provisional diamond sales of $505 million for the seventh sales cycle ended Sept. 4, compared with $576 million generated in the previous sales cycle. Sales for the seventh cycle of 2016 were $639 million.

  "As expected, rough diamond sales were somewhat lower in the seventh cycle of the year, with some midstream demand having already been brought forward into Cycle 6 due to Diwali being earlier than normal in 2017," chief executive Bruce Cleaver said in the statement.

  Diwali, or festival of lights, is India's biggest and most important holiday of the year, which is celebrated in the fall. The five-day celebration is known for driving diamonds and gold sales up.

The latest sale brings revenue so far this year to just over $4.012 billion, compared with $4.195bn for the first seven sales in 2016, and $5.587bn for the whole of last year.