It is the slogan of the popular diamond seller De Beers.
They have coined this phrase as a marketing slogan for the products that they sell, which are made of diamonds.
‘No matter how much you love your man, it is the diamond that lasts forever’, joked the girls at the brunch table.
A woman loves nothing more than her diamonds, they do last forever.
Whether the relationship lasts forever cannot be guaranteed but the diamond will last forever.
She takes good care of her jewellery because she wants to pass it to her granddaughter. She knows that a diamond lasts forever.
There is no origin for this idiom
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definition
Common phrase that has a specific meaning.