A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
De Beers holds first sight in Botswana
This week marks De Beers’ inaugural sight in Gaborone following the relocation of its sales activities from London to Botswana, a move that has been two years in the making.
Gaborone, Botswana--This week marks De Beers’ inaugural sight in Gaborone following the relocation of its sales activities from London to Botswana, a move that has been two years in the making.
De Beers first announced that it would be moving its sorting operations some 5,400 miles south in September 2011 when it inked a new 10-year sales agreement with the Botswana government.
The move impacted about 120 members of De Beers’ London-based staff and about 80 of them opted to make the move, with Batswanas accounting for the other 50 percent of the 160-member Botswana-based team.
Among those who won’t be making Gaborone a permanent home is Varda Shine. About two weeks ago, news surfaced that Shine, the executive vice president of global sightholder sales, would be stepping down at the end of January to “explore other opportunities.”
Paul Rowley, the senior vice president of midstream operations for global sightholder sales at De Beers, will replace Shine, who was with the company for more than 30 years.
Rumors about Shine’s imminent departure had been circulating for some time, citing conflict between her and De Beers Group CEO Philippe Mellier. On Thursday, Diamond Intelligence Briefs (DIB) reported that De Beers chose not to renew Shine’s contract even after she had asked to stay on board for another two years.
A De Beers spokeswoman called the DIB report “inaccurate.”
“After completing the migration of De Beers’ sales activities from London to Gaborone, Varda took the decision that after a 30-year career with De Beers, and eight heading up the DTC /global sightholder sales, the relocation of the organization provided a clear point of transition for the business and her career,” spokeswoman Lynette Gould said. “Varda has been grooming a highly experienced leadership team for a number of years and her successor Paul Rowley comes into the role with decades of experience and strong relationships with both sightholders and governments built over years.”
Ben Janowski, a New York-based diamond industry analyst who heads Janos Consultants, said Shine’s departure did not surprise him in the least.
He said it is probably the result of a combination of factors: a new CEO with different ideas about how to run the business--Mellier joined the company in July 2011 from Alstom Transport--and the prospect of relocating to a city with a completely different lifestyle with a company that has a somewhat limited future.
Shine’s not the first high-ranking executive to not make the transition to Botswana. Over the summer, news surfaced that Mahiar Borhanjoo, De Beers vice president of global sightholder sales, wouldn’t be relocating. Industry sources tell National Jeweler that the resignation of another top executive is expected in the next couple of weeks.
“Is this really a future for De Beers?” Janowski said of the mines and Forevermark. “It doesn’t sound like much.”
He added that it was not a new topic. “There’s been an issue for years about where De Beers is going.”
De Beers’ first sight in Botswana runs through Thursday.
The Latest
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.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Emily Highet Morgan and Emily Bennett have joined the agency’s team.
Its updated book for mountings is also now available.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.