Text｜AI Finance and Economics Society Yang Qiao
Edit｜Yang Jie
"Only one piece in your life" DR diamond ring has failed.
Because of a suspected fan stealing the artist's ID number to purchase products, and related information was leaked by "insiders", the DR diamond ring has been questioned by many users and was recently sent to the Weibo hot search.
DR diamond ring parent company Di'a Co., Ltd., which is sprinting for IPO, has also fallen into an embarrassing situation: the DR diamond ring brand, which started with "true love marketing", has fallen into a "true love agreement" this time. How can it convince young people to continue to pay for the "love story" it tells?
"turned over" DR diamond ring
This incident originated on November 10. A user who claimed to be an "insider" of DR diamond ring broke the news on social media that he found that many traffic artists were users of DR diamond rings. In a "purchase list" it exposed, the names of many artists including Song Weilong , Huang Junjie , Xia Zhiguang , Yan Xujia , Ren Shihao , Zhou Qi , Chen Xiang , Cao Enqi , Zhang Yijie , Meng Zikun , Su Wenhao and others appeared.
DR diamond ring is endorsed by the well-known pianist Lang Lang and Gina . It mainly focuses on a man who can only buy one diamond ring of the brand in his life and "only give one person" to "get it away". When purchasing a DR marriage proposal diamond ring, users need to pass ID card information authentication and sign the "True Love Agreement" to designate the recipient. They can only order once in their lifetime and do not support purchasing again.
Therefore, this incident has aroused doubts from fans of these artists. Subsequently, some artists denied the rumors that they did not buy it.
Then, a Weibo user who claimed to be a fan of one of the artists "revealed" that he had obtained the artist's ID number through scalpers and used the ID number and his mobile phone number to buy a DR diamond ring. At first, he thought the brand needed to verify his identity again, but he didn't expect that the purchase was successful. The fan said that he immediately consulted DR's customer service and wanted to change the information, but the customer service said that "it cannot be changed after placing an order."
Suddenly, this incident caused controversy on social media. Not only the fans of these artists, but also ordinary consumers have raised questions: the so-called "only one person is given in a lifetime" of DR diamond rings, which turns out to be a random ID number, and you can purchase and log in to the system without the original and verification of the original? This "beautiful" slogan has become a gimmick; the so-called "true love agreement" has also become a piece of paper.
, and the user information leakage problem involved in this incident has also become the focus of many people's attention.
In addition, netizens also suggested that the purchase record of DR diamond ring can be eliminated for 500 yuan, which means that the purchaser can actually purchase it again as long as he spends money to eliminate the record. Regarding the issue of "spend money to eliminate records", DR customer service responded: "The problem of rumor that some users on the Internet that spend money can unbind true love binding is not true, and the company does not support deleting and unbinding information."
DR diamond ring urgently issued a statement for this. Among them, DR emphasized the brand concept of "love should be carefully selected, and firmly insist that each other is the only one after selection", and stated that for this reason, the brand has also set measures such as signing a true love agreement and binding an ID number for purchasers, and established a "true love query system" based on this.
However, this statement avoids talking about how to review, verify and protect user identity information.
Henan Yulong Law Firm's lawyer Fu Jian told AI Finance and Economics that if the DR diamond ring has approved the consumer's consent when collecting personal information, and a corresponding management and preservation system is established, then DR company does not have any illegal liability. However, due to their own negligence and negligence, the personal information leakage of citizens will be leaked. The department responsible for personal information protection has the right to order them to correct the situation, give them warnings, confiscate illegal gains, and order the application of illegal processing of personal information to suspend or terminate the provision of services.
Text｜AI Finance and Economics Society Yang Qiao
Edit｜Yang Jie
"Only one piece in your life" DR diamond ring has failed.
Because of a suspected fan stealing the artist's ID number to purchase products, and related information was leaked by "insiders", the DR diamond ring has been questioned by many users and was recently sent to the Weibo hot search.
DR diamond ring parent company Di'a Co., Ltd., which is sprinting for IPO, has also fallen into an embarrassing situation: the DR diamond ring brand, which started with "true love marketing", has fallen into a "true love agreement" this time. How can it convince young people to continue to pay for the "love story" it tells?
"turned over" DR diamond ring
This incident originated on November 10. A user who claimed to be an "insider" of DR diamond ring broke the news on social media that he found that many traffic artists were users of DR diamond rings. In a "purchase list" it exposed, the names of many artists including Song Weilong , Huang Junjie , Xia Zhiguang , Yan Xujia , Ren Shihao , Zhou Qi , Chen Xiang , Cao Enqi , Zhang Yijie , Meng Zikun , Su Wenhao and others appeared.
DR diamond ring is endorsed by the well-known pianist Lang Lang and Gina . It mainly focuses on a man who can only buy one diamond ring of the brand in his life and "only give one person" to "get it away". When purchasing a DR marriage proposal diamond ring, users need to pass ID card information authentication and sign the "True Love Agreement" to designate the recipient. They can only order once in their lifetime and do not support purchasing again.
Therefore, this incident has aroused doubts from fans of these artists. Subsequently, some artists denied the rumors that they did not buy it.
Then, a Weibo user who claimed to be a fan of one of the artists "revealed" that he had obtained the artist's ID number through scalpers and used the ID number and his mobile phone number to buy a DR diamond ring. At first, he thought the brand needed to verify his identity again, but he didn't expect that the purchase was successful. The fan said that he immediately consulted DR's customer service and wanted to change the information, but the customer service said that "it cannot be changed after placing an order."
Suddenly, this incident caused controversy on social media. Not only the fans of these artists, but also ordinary consumers have raised questions: the so-called "only one person is given in a lifetime" of DR diamond rings, which turns out to be a random ID number, and you can purchase and log in to the system without the original and verification of the original? This "beautiful" slogan has become a gimmick; the so-called "true love agreement" has also become a piece of paper.
, and the user information leakage problem involved in this incident has also become the focus of many people's attention.
In addition, netizens also suggested that the purchase record of DR diamond ring can be eliminated for 500 yuan, which means that the purchaser can actually purchase it again as long as he spends money to eliminate the record. Regarding the issue of "spend money to eliminate records", DR customer service responded: "The problem of rumor that some users on the Internet that spend money can unbind true love binding is not true, and the company does not support deleting and unbinding information."
DR diamond ring urgently issued a statement for this. Among them, DR emphasized the brand concept of "love should be carefully selected, and firmly insist that each other is the only one after selection", and stated that for this reason, the brand has also set measures such as signing a true love agreement and binding an ID number for purchasers, and established a "true love query system" based on this.
However, this statement avoids talking about how to review, verify and protect user identity information.
Henan Yulong Law Firm's lawyer Fu Jian told AI Finance and Economics that if the DR diamond ring has approved the consumer's consent when collecting personal information, and a corresponding management and preservation system is established, then DR company does not have any illegal liability. However, due to their own negligence and negligence, the personal information leakage of citizens will be leaked. The department responsible for personal information protection has the right to order them to correct the situation, give them warnings, confiscate illegal gains, and order the application of illegal processing of personal information to suspend or terminate the provision of services.
He also said that if a company deliberately leaks or sells consumer personal information, the act is suspected of constituting the crime of infringement of personal information.
is affected by this incident, and DR Diamond Ring has currently closed its "true love verification query system".
brand marketing expert Chen Xuan told AI Finance and Economics that the DR diamond ring crash incident is essentially a disconnect between brand promotion and technology, and there are technical errors, and there are also insufficient review capabilities. However, this directly exposed its weakness: if the brand's "exclusive limited" attributes are questioned and this situation does exist, the brand's foundation will be damaged.
"True Love Marketing" has failed, which is not good news for the DR diamond ring that is sprinting to go public.
(Photo/Weibo screenshot)
"True love" depends on marketing
In many "love"-related TV series, variety shows or short videos, you can often see the figure of DR diamond rings. The parent company of
DR diamond ring is Dia Co., Ltd. , which is mainly engaged in the brand operation of jewelry, jewelry customization and research and development design of jewelry. Its main business is to customize high-quality marriage proposal diamond rings for marriage and lovers. In July this year, DiA Co., Ltd. publicly submitted prospectus books, intending to log in to the Shenzhen Stock Exchange GEM.
When the DR diamond ring was developed, old jewelry brands such as week dafu , weekly Shengsheng , Saturday have firmly occupied most of the market share of the jewelry market. If DR diamond rings want to break through the siege, they can only work hard on brand marketing.
DR diamond ring sword went a different way and put forward the classic advertising slogan "Only one can be customized in a lifetime". Once again, it was labeled as "loyalty" on the concept of "diamond equals love" promoted in the jewelry circle, which immediately made the DR diamond ring successfully gain many users in the marriage and love jewelry market.
In order to consolidate the brand value, DR diamond rings proposed that men need to bind their ID card to buy a wedding diamond ring. Both parties also need to sign a true love agreement, sign the promiser and the promised person, generate a true love code belonging to both, and make a promise that the true love will not change in this life. In addition, DR has also launched the "True Love Verification Query System", which can use your ID card to query the user's purchase and binding records. If a user has ever purchased, the DR diamond ring will refuse to continue selling the wedding diamond ring to the user.
DR diamond ring will almost achieve the ultimate marketing of this concept. In Xiaohongshu, major e-commerce platforms, short video platforms and other channels, advertising and grass planting notes for DR diamond rings are in full swing. In TV series advertising implants and amateur proposal videos, the figure of the DR diamond ring is also everywhere. In addition to the spokesperson Lang Lang and his wife, DR diamond rings appeared in the wedding promotion of celebrities including Qi Wei and Li Chengxuan .
According to the prospectus, from 2018 to 2020, Di'a Co., Ltd. achieved total revenue of 1.5 billion yuan, 1.665 billion yuan and 2.464 billion yuan respectively, while net profits were 273 million yuan, 264 million yuan and 563 million yuan respectively. In 2020, the marriage proposal diamond ring achieved revenue of 1.868 billion yuan, and the marriage ring achieved revenue of 555 million yuan. The DR brand has more than 20 million fans on Internet platforms such as Weibo, WeChat official account, , Douyin, , and Kuaishou. While
revenue grew, Di'a's sales expenses were also rising, from 500 million yuan in 2018 to 729 million yuan in 2020. From 2018 to 2020, its annual sales expenses accounted for 33.32%, 40.51% and 29.58% of total revenue, respectively.
DR diamond ring pays special attention to online promotion. Di'a Co., Ltd.'s online promotion expenses have also accounted for more than 80% of the market promotion expenses in previous years. In 2020, its online promotion expenses accounted for 91.04%.
, while in contrast, its R&D expenses, in the past three years, the R&D expenses of DR diamond rings account for less than 1% of the total revenue. In 2020, the R&D expenses were only 17 million yuan. In addition to the cost of opening a store, diamond costs and commissioned processing costs, Di'a Co., Ltd.'s cost expenditure has basically been "swallowed" by marketing expenses.
cost 3,000 and priced at tens of thousands. The profitable business of "love"
For expensive products such as diamond rings, more users will still choose to consume offline.More than 90% of the revenue of DR diamond rings also comes from offline store channels.
Previously, De Beers' slogan "Diamonds are forever, and one is forever passed down" has long been deeply rooted in people's hearts. As a symbol of love, diamond rings are also expensive, and they are often tens of thousands per piece. In the prospectus of Di'a Co., Ltd., from 2018 to 2020, the prices of its proposal diamond rings on the sales end reached RMB 10,600, RMB 11,500 and RMB 10,900 respectively.
However, according to the prospectus, the unit cost of of its proposal diamond ring was 3160 yuan, 3286 yuan and 3196 yuan respectively during the same period.
. Compared with the marriage proposal diamond ring, the wedding ring of the DR diamond ring is relatively lower because the diamond used is a broken diamond, and its cost and price are relatively lower. From 2018 to 2020, the unit cost of its pair or is basically between 1,180 yuan and 1,480 yuan, while the unit price of sales is around 4,500 yuan.
According to the prospectus, Di'a Co., Ltd.'s gross profit margin reached nearly 70%, higher than that of weeks of Dasheng , Hengxin Xili and other companies in the same industry. The average gross profit margin in the industry is between 44% and 48%.
However, there are still many people who are willing to pay for it. According to De Beers data, in China, people aged 21-39 are the main consumer group of diamond jewelry, contributing about 78% of diamond jewelry sales. Among the main consumer groups of DR diamond rings, people under the age of 34 contribute more than 90% of their income, among which young people aged 25-29 account for the highest proportion.
And the promotion of "true love" of DR diamond rings also makes many young people pay for the purpose of "identifying sincerity". They have a specific sense of ritual and values for love, and what DR diamond rings want is this "true love premium".
In Chen Xuan's view, DR diamond rings have introduced the concept of "sociality" and injected the spirit of contract for love into the diamond ring products, allowing users' love expressions to be "public". In addition, through promotion, Volkswagen has already gained a certain understanding of product brands, and the publicization of commitments and contracts in a social environment. Bystanders and users will "force" users to purchase products, which makes users not care whether it is "worthy" in pricing, but pay more attention to the brand added value on the product.
But the promotion of "only one person in a lifetime" also puts the DR diamond ring in another trouble: people who have consumption power but want to spend second time are therefore turned away by it. In order to expand the market, Die Co., Ltd., the parent company of DR Diamond Ring, is continuing to promote its brand, while also developing new brands. In the three years from 2018 to 2020, the sales share of its proposal diamond rings has also declined, from 85.41% in 2018 to 76.31% in 2020.
In August 2017, DiA Co., Ltd. established a wholly-owned subsidiary, Kaber Ouli (Shenzhen) Jewelry Co., Ltd., to cultivate the sub-brand "Story Mark" to customize the exclusive wedding rings for customers and continue to play to its "exclusive customization" marketing of love. AI Finance and Economics learned that there is one offline store of the brand in Hong Kong and two in Chengdu.
In May 2020, Di'a Co., Ltd. also established Hol Culture (Shenzhen) Co., Ltd. to cultivate the online sub-brand MOST ME, and its main business is to sell accessories.
However, so far, the revenue share of these two brands is still less than 1%. In addition, the company's prospectus shows that Kaber Shenzhen lost 1.9306 million yuan in 2020 and Hol Culture lost 487,300 yuan.
new brand still fails to support the company's revenue. This time, the "fall" of the main DR diamond ring brand, which started with marketing, is undoubtedly a heavy blow to the company. The promise of "true love" has lost its credibility. What kind of love story can the DR diamond ring tell and continue to attract the attention of the capital market?
This article is originally produced by AI Finance and Economics, a subsidiary of "Finance World" Weekly. Please do not reprint it on any channel or platform without permission. Violators will be prosecuted.
More than 90% of the revenue of DR diamond rings also comes from offline store channels.
Previously, De Beers' slogan "Diamonds are forever, and one is forever passed down" has long been deeply rooted in people's hearts. As a symbol of love, diamond rings are also expensive, and they are often tens of thousands per piece. In the prospectus of Di'a Co., Ltd., from 2018 to 2020, the prices of its proposal diamond rings on the sales end reached RMB 10,600, RMB 11,500 and RMB 10,900 respectively.
However, according to the prospectus, the unit cost of of its proposal diamond ring was 3160 yuan, 3286 yuan and 3196 yuan respectively during the same period.
. Compared with the marriage proposal diamond ring, the wedding ring of the DR diamond ring is relatively lower because the diamond used is a broken diamond, and its cost and price are relatively lower. From 2018 to 2020, the unit cost of its pair or is basically between 1,180 yuan and 1,480 yuan, while the unit price of sales is around 4,500 yuan.
According to the prospectus, Di'a Co., Ltd.'s gross profit margin reached nearly 70%, higher than that of weeks of Dasheng , Hengxin Xili and other companies in the same industry. The average gross profit margin in the industry is between 44% and 48%.
However, there are still many people who are willing to pay for it. According to De Beers data, in China, people aged 21-39 are the main consumer group of diamond jewelry, contributing about 78% of diamond jewelry sales. Among the main consumer groups of DR diamond rings, people under the age of 34 contribute more than 90% of their income, among which young people aged 25-29 account for the highest proportion.
And the promotion of "true love" of DR diamond rings also makes many young people pay for the purpose of "identifying sincerity". They have a specific sense of ritual and values for love, and what DR diamond rings want is this "true love premium".
In Chen Xuan's view, DR diamond rings have introduced the concept of "sociality" and injected the spirit of contract for love into the diamond ring products, allowing users' love expressions to be "public". In addition, through promotion, Volkswagen has already gained a certain understanding of product brands, and the publicization of commitments and contracts in a social environment. Bystanders and users will "force" users to purchase products, which makes users not care whether it is "worthy" in pricing, but pay more attention to the brand added value on the product.
But the promotion of "only one person in a lifetime" also puts the DR diamond ring in another trouble: people who have consumption power but want to spend second time are therefore turned away by it. In order to expand the market, Die Co., Ltd., the parent company of DR Diamond Ring, is continuing to promote its brand, while also developing new brands. In the three years from 2018 to 2020, the sales share of its proposal diamond rings has also declined, from 85.41% in 2018 to 76.31% in 2020.
In August 2017, DiA Co., Ltd. established a wholly-owned subsidiary, Kaber Ouli (Shenzhen) Jewelry Co., Ltd., to cultivate the sub-brand "Story Mark" to customize the exclusive wedding rings for customers and continue to play to its "exclusive customization" marketing of love. AI Finance and Economics learned that there is one offline store of the brand in Hong Kong and two in Chengdu.
In May 2020, Di'a Co., Ltd. also established Hol Culture (Shenzhen) Co., Ltd. to cultivate the online sub-brand MOST ME, and its main business is to sell accessories.
However, so far, the revenue share of these two brands is still less than 1%. In addition, the company's prospectus shows that Kaber Shenzhen lost 1.9306 million yuan in 2020 and Hol Culture lost 487,300 yuan.
new brand still fails to support the company's revenue. This time, the "fall" of the main DR diamond ring brand, which started with marketing, is undoubtedly a heavy blow to the company. The promise of "true love" has lost its credibility. What kind of love story can the DR diamond ring tell and continue to attract the attention of the capital market?
This article is originally produced by AI Finance and Economics, a subsidiary of "Finance World" Weekly. Please do not reprint it on any channel or platform without permission. Violators will be prosecuted.
