It is located in Marin County, California.
De Beers expects 4-5 percent rise in diamond demand
Sales and production increased in the first half of the year for De Beers and the company expects global demand for diamond jewelry to increase 4 to 5 percent this year, driven by the United States and China.
London--Sales and production increased in the first half of the year for De Beers and the company expects global demand for diamond jewelry to increase 4 to 5 percent this year, driven by the United States and China.
According to results published Friday by London-based parent company Anglo American, total sales for De Beers rose 15 percent to $3.8 billion while rough diamond sales also increased 15 percent, to $3.5 billion.
Operating profit rose 34 percent from $571 million to $765 million.
Production was up 12 percent for the six-month period ended June 30, including a 7 percent increase in second quarter production. Aiding the increased production was the end of the clean-up from the slope failure at Jwaneng and the end of planned maintenance at Orapa, plus the company’s improved ability to the deal with heavy rainfall in South Africa that had been hampering production.
Downstream, De Beers said that Forevermark “continues to grow strongly,” particularly in the U.S., though it provided no specific sales figures for its diamond brand.
The company also reported “healthy like-for-like sales growth,” for De Beers Diamond Jewellers, the chain of retail stores it operates in a joint venture with LVMH, though it noted it has “restructured” its portfolio to focus on fast-growing markets, particularly in Asia.
There now are four De Beers Diamond Jewellers stores in the U.S., in Costa Mesa, Calif., New York, Houston and Naples, Fla.
Looking ahead to the remainder of 2014, De Beers said it expects demand for diamond jewelry to increase 4 to 5 percent, driven by the U.S. and China.
It has increased its production guidance from 30 to 32 million carats to 31 to 31 million carats.
Commenting on the performance of De Beers, Anglo American Chief Executive Mark Cutifani noted the diamond miner’s “upward performance trajectory” but said Anglo American’s business overall has witnessed soft demand and declining prices for the commodities it produces, a reflection of overall economic uncertainty over growth prospects in both developed and developing countries.
“As we look at the global economic outlook, uncertainty is likely to persist for the balance of 2014, though there are some encouraging signs that activity is strengthening in our key markets,” he said.
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.
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.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
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
“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 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.