Tuesday, December 6, 2022
HomeJewelryDe Beers tough diamond gross sales drop 13% to £433m

De Beers tough diamond gross sales drop 13% to £433m


The De Beers Group has introduced its tough diamond gross sales dropped 13% within the interval from 28 March to 12 April (cycle three) from $652m (£500.26m) within the second gross sales quarter to $565m (£433.51m).

Nevertheless, that is nonetheless up 25% year-on-year in comparison with $450m (£345.2m) within the third cycle of 2021.

The group mentioned the autumn in gross sales is as a result of restrictions on the motion of individuals and merchandise in numerous jurisdictions across the globe. 

Consequently, De Beers has reportedly continued to implement a “extra versatile strategy” to tough diamond gross sales in the course of the third gross sales cycle of 2022, with the International Sightholder Gross sales and Auctions occasion prolonged past its regular week-long length. 

Bruce Cleaver, CEO of De Beers Group, mentioned: “On the again of strong demand for tough diamonds in 2021 and jewelry gross sales within the first quarter of 2022, and reflecting continued year-on-year development in shopper demand for diamond jewelry, demand for De Beers Group tough diamonds remained sturdy within the third gross sales cycle of 2022.

“As we head into the seasonally slower second quarter of the yr, diamond companies are adopting a extra cautious and watchful strategy in gentle of the struggle in Ukraine and related sanctions, in addition to Covid-19 lockdowns in China.”

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