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De Beers tried its hand at growing a lab-grown diamond jewelry business for six years before ditching it earlier this year. But a segment of that failed attempt has flourished—and it has nothing ...
A De Beers jewelry store in Hong Kong, China. (Lam Yik—Bloomberg via Getty Images) Diamond giant De Beers has seen its stockpile reach $2 billion , the biggest since the 2008 financial crisis ...
De Beers Diamond Jewellers (DBDJ) was established in 2001 as a 50:50 joint venture between The De Beers Group of Companies and LVMH, the French luxury goods company. [81] The first De Beers boutique opened in 2002 on London's Old Bond Street as the brand's flagship store. Since then, stores have opened in various cities around the world.
De Beers has accumulated the biggest stockpile of diamonds since 2008, the Financial Times reported. Weak demand and rising competition from lab-grown products are weighing on the diamond titan.
Element Six is a company specialised in providing synthetic diamond, cubic boron nitride and other superhard materials for industrial use. Part of the De Beers Group, Element Six employs over 1,900 people and its primary manufacturing sites are located in the UK, Ireland, Germany, South Africa, and the US.
The article revealed that when, "asked about the anomalies in reported trade figures for diamonds under the Kimberley Process (K.P.) in South Africa, where De Beers is a dominant player, [Lynette] Gould, [head of media relations for De Beers], responded, "The primary purpose of the K.P. process (or the issuing of the certificates at least) is ...
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The De Beers diamonds antitrust class action sought to end an alleged 60-year conspiracy to fix the price of rough diamonds in the U.S. by the De Beers group of companies. The litigation includes several cases including Hopkins v. De Beers Centenary A.G., et al., No. CGC-04-432954, which commenced on July 24, 2004, and Sullivan v.
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