It is located in Marin County, California.
De Beers, Alrosa See First Half Sales Climb
The diamond miners also saw increased profits, though production levels remain down as both companies look to control costs.
New York--De Beers and Alrosa, the world’s two biggest diamond miners, saw increased sales and profits in the first half of the year though production levels remain down as both companies look to control costs.
De Beers’ parent company Anglo American reported its first half results Thursday.
Total revenue for De Beers rose 8 percent year-over-year to $3.27 billion, driven mainly by an 11 percent increase in rough diamond sales.
De Beers had more diamonds to sell in the first half of 2016 but the average realized price per carat was lower, $177/carat versus $206/carat last year.
Underlying earnings before interest and tax (EBIT) was up 2 percent to $585 million due to stronger rough diamond demand, favorable exchange rates and cost controls that allowed De Beers to cut consolidated unit costs from $82 to $65 per carat.
On a market-by-market basis, De Beers said the United States showed positive overall growth, and that a strong holiday season in the U.S. is what necessitated the inventory restocking that fueled rough demand in the first half of the year.
The company also noted that Forevermark is now available in 1,874 outlets worldwide, a 7 percent increase since the end of 2015. New markets for the diamond brand were Hungary, Thailand and South Korea.
As announced in Las Vegas, Forevermark will feature the two-stone ring in its fourth quarter television advertising campaign. The brand also has started selling fancy shapes.
For Alrosa, first half revenue was up 32 percent year-over-year, from $1.67 billion to $2.20 billion.
Net income (profit) more than doubled, reaching $1.24 billion.
While conditions improve in the first half of 2016, Alrosa is cutting back on diamond production in response to market conditions. As reported last week, the company now projects it will mine 37 million carats of diamonds in 2016, down from the 39 million previously forecast.
The same is true for rival De Beers, which reduced rough diamond production by 19 percent in the second quarter and a total of 15 percent in the first half of the year.
Commenting on the year ahead in its first half financial results, De Beers said that “macro-economic conditions underpinning consumer demand for diamonds remain broadly stable in aggregate, but with persistent downside risks looking into H2 2016 (including recent social and political instability).”
The company said it expects caution in diamond buying among manufacturers and suppliers in the second
The Latest
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
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.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
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 announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
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 selected nine organizations have outlined their plans for the funds.