Sourcing

Stephen Lussier to Retire After 37 Years With De Beers

SourcingJan 21, 2022

Stephen Lussier to Retire After 37 Years With De Beers

Tiffany executive Mark Jacheet will succeed Lussier, who officially steps down in April.

Stephen Lussier is retiring from the De Beers Group, where he “shaped the soul” of diamonds over the course of his 37-year career.
London—After nearly four decades of promoting diamonds, longtime De Beers executive Stephen Lussier is retiring.

The company announced Thursday that Lussier will step down as executive vice president of brands and consumer markets in April, marking the end of a run that began when he made the jump from De Beers’ former U.S. ad agency, N.W. Ayer, to De Beers proper in the mid-‘80s.

Former Tiffany & Co. Executive Marc Jacheet will succeed Lussier, joining the company as CEO, De Beers Brands.

Lussier said: “Having had the privilege of guiding De Beers’ consumer strategy and businesses for the past three decades, I am proud of the markets we have opened, the brands we have built and the diamond dream that has guided us at every step.

“I am particularly pleased to have identified Marc as an individual with the insight and leadership skills to guide De Beers’ consumer strategy forward into an exciting new era for the group and the diamond industry.”

Lussier joined De Beers in 1985 and, by 1993, had moved to London to head marketing for De Beers worldwide.

It was under Lussier’s watch that the company launched some of its most well-known consumer marketing campaigns and products, including the popular Journey diamond jewelry beacon program and the famous “Shadows” advertising campaign from the 1990s.

He also served on the company’s executive committee and headed Forevermark for more than a decade before stepping back from the diamond brand in 2019 and moving into his current role as executive vice president of brands and consumer markets.

Last year, Jewelers of America announced that Lussier would be the recipient of the 2022 Gem Award for Lifetime Achievement, an honor he will receive at the Gem Awards ceremony this March in New York

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De Beers CEO Bruce Cleaver described Lussier’s impact on De Beers and the diamond industry as “singular and wide-reaching.”

“For 37 years, [Stephen] has shaped the soul of our product and reminded us of the preciousness, beauty and positive impact of natural diamonds,” he said. “We thank him for all he has done for De Beers, to which his name and legacy will be forever linked.”

Lussier will step down from his executive responsibilities on April 1 but continue to work as a strategic adviser to De Beers and remain chairman of the Natural Diamond Council.

Jacheet is set to join De Beers on Feb. 1.

He has worked in marketing and digital for luxury goods and jewelry for more than 25 years. 

Most recently, Jacheet served as president of the Europe, Middle East and Africa for Tiffany & Co. Prior to that, he headed the Asia Pacific region for the jeweler.

He also has held global marketing roles with LVMH, Danone and Unilever in Europe and the United States. 

In addition to his role as CEO of De Beers Brands, Jacheet will serve on the company’s executive committee.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

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