De Beers tough diamond gross sales drop to £249.35m

De Beers Group has introduced its provisional tough diamond gross sales for the tenth cycle of 2021 has fallen year-on-year by 26% from $452m (£339.48m) to $332m (£249.35m).

The worth of tough diamond gross sales has additionally fallen by 24% in comparison with the group’s ninth cycle gross sales this yr of $438m (£328.97m).

De Beers chalked the autumn all the way down to the restrictions on the motion of individuals and merchandise in numerous jurisdictions across the globe as a result of Covid-19.

Regardless of the autumn, the group mentioned it has continued to implement a “extra versatile strategy” to tough diamond gross sales throughout the tenth gross sales cycle of 2021, with the Sight occasion prolonged past its regular week-long period. 

Bruce Cleaver, CEO of De Beers Group, mentioned: “Tough diamond demand and midstream sentiment continued to be constructive within the last gross sales cycle of 2021, though as anticipated we noticed some impression on gross sales forward of the seasonal closure of sprucing factories in southern Africa over the Christmas interval. 

“Nonetheless, regardless of the continuing challenges of Covid-19, our tough diamond gross sales for the yr are increased than what we noticed in 2019 earlier than the onset of the pandemic, and far increased than our gross sales in 2020.”

He added: “Shopper demand for diamond jewelry is constant to carry out very nicely over the important thing vacation interval, so we head in the direction of the brand new yr with constructive buying and selling circumstances and business sentiment.”

Written by colin

Leave a Reply

Your email address will not be published. Required fields are marked *

RJC companions with Pure Diamond Council on international sustainability marketing campaign

Engagement and wedding ceremony rings gross sales to drop, Ingle and Rhode warns