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De Beers' sightholder sales fall amid lower jewellery demand, midstream trading

De Beers CEO Al Cook

De Beers CEO Al Cook

Photo by Creamer Media's Donna Slater

30th August 2023

By: Creamer Media Reporter

     

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Diamond miner De Beers' seventh sales cycle of this year generated $370-million – much lower than the $638-million recorded for the seventh sales cycle of 2022.

Sales were also lower than the $411-million recorded in the sixth sales cycle of this year.

"With the prevailing economic environment leading to softer end-client demand for diamond jewellery in key consumer markets, and the traditionally lower levels of midstream trading during the summer period, Sightholders continued to take a prudent approach to their purchasing during the seventh sales cycle of the year," De Beers CEO Al Cook comments.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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