The Strategist

De Beers boosts diamonds sales

06/23/2022 - 06:15

According to preliminary corporate data, the global diamond giant De Beers boosted its diamond sales for the fifth business cycle of this year (June 6 to 21) by 7.6 percent in comparison to the prior cycle to $650 million.

From May 2 to May 17, the preceding fourth business cycle took place. The quantity of sales during that time was $604 million.

Diamond sales at De Beers increased 36.3 percent annually in the fifth business cycle.

According to the company’s CEO Bruce Cleaver, "Demand for diamond jewelry continues to show solid momentum in the main U.S. market, bolstered by favorable expectations following the JCK Las Vegas jewelry exhibition in mid-June."

De Beers also notes that the fifth business cycle's sales momentum was boosted by both American demand and the gradual reopening of retail stores in China following the quarantine.