De Beers’ price hike exposes profitability concerns
Manufacturers are split on whether small diamonds deserved such a sharp increase.
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De Beers’ Cleaver: Lightbox was “one of the scariest things I’ve ever done”
In part 2 of our exit interview with De Beers CEO Bruce Cleaver, he reviews the big events of his tenure, from Nirav Modi’s implosion to the COVID-19 pandemic to De Beers’ still-controversial introduction of lab-grown brand Lightbox.
The industry’s Russia crisis: the importance of Alrosa
The diamond market has yet to feel the full effect of the war in Ukraine. Initial predictions pointed to a potential supply shortage that would result from having Alrosa, with its large share of global rough production, off the market. However, those scarcities have not emerged significantly.
Sales decline at De Beers’ first sight of 2023
De Beers saw a slowdown in rough sales at its January sight, as clients were hesitant to buy at the start of the year.
De Beers Group rough diamond sales for cycle 1, 2023
Press release – De Beers Group [announced February 1] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the first sales cycle of 2023.
India makes sweeping reforms to promote lab-grown sector
The Indian government has abolished its import tax on synthetic-diamond seeds and pledged extra funding in an effort to develop the country’s lab-grown industry.
De Beers’ rough prices rise 23% in 2022
De Beers’ prices jumped last year as steady retail sales and shortages of Russian goods supported demand for the miner’s production.
Tiffany buys 35 of the last diamonds recovered from Argyle
Purchased directly from Rio Tinto, the collection consists of pinks, purples and one red, none larger than 1.52 carats.
Is lab-grown still a dirty word in the industry?
Some jewelers are keeping their synthetics sales low-key to avoid pushback from the trade.
De Beers’ new CEO will start in February
De Beers’ CEO transition—which was scheduled to occur early this year—has been given a date: Feb. 20.
Another top De Beers exec is retiring
Charles Stanley, who has been with the company for more than two decades, will step down at the end of February.
De Beers slashes prices of larger rough diamonds
De Beers has made sharp price changes at this week’s sight, implementing deep reductions in larger goods and increases for smaller stones.
