De Beers’ Rough Sales Up 21% So Far This Year
One analyst cited rising diamond prices and the sanctions on Alrosa as contributing factors.
In its fourth sales cycle of the year (May 2-17), De Beers sold $604 million in rough to sightholders and auction customers.
That is a 57 percent increase from the fourth sales cycle of 2021 ($385 million) and is up 7 percent from $566 million in April, which is unusual as rough diamond sales typically decrease between April and May.
Year-to-date, De Beers’ rough diamond sales have totaled $2.48 billion, up 21 percent from $2.05 billion at this point last year.
In the news release on the results, De Beers CEO Bruce Cleaver attributed the early to mid-May sales increase to continued diamond jewelry demand in the United States.
De Beers declined further comment on its results but on LinkedIn, analyst Edahn Golan cited other contributing factors, including rising rough diamond prices and more companies turning to De Beers for goods due to the sanctions on Alrosa.
Looking ahead, Cleaver said traditional May holiday shutdowns in India will impact rough demand in the coming sales cycle.
He also noted diamond businesses are continuing to monitor COVID-related lockdowns in China—where retail sales fell 11 percent in April—as well as the war in Ukraine and associated sanctions.
The Latest
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.