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Spotlight | Africa, Europe
Luxury sector frets over De Beers sale

Mining giant Anglo American announced on 14 May that it was putting diamond producer De Beers up for sale. © Studio Pachamama

Caught off-guard by Anglo American's announcement that it is considering selling De Beers, the luxury giants that are the diamond producer's top customers are closely monitoring the transaction. [...]

Published on 23/05/2024 at 06:00 GMT Reading time 3 minutes

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Houses

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Anglo American
De Beers
De Beers Diamond Jewellers
Dubai Diamond Exchange
Investment Corporation of Dubai
Johann Rupert
LVMH
Mokgweetsi Masisi
Richemont

Switzerland
Preparing his succession, Johann Rupert brings entire family into holding company that controls Richemont

Officially, only two Rupert family members, CEO Johann Rupert and his son Anton, control the Swiss company that holds the family's stake in the Swiss luxury giant. In fact, thanks to a complex financial set-up, the entire clan are now shareholders in the holding company, consolidating their hold on Richemont and providing Anton with family backup should he succeed his father.

Subscribers only Families 07.11.2024

Switzerland
Rupert clan bears hefty diamond loss

Richemont's main shareholders waved goodbye to some €50m invested in two South African mines that turned out to be money pits.

Subscribers only Families 19.09.2024

United Kingdom
Banks already at work on De Beers sale

Several banks have already begun to work on the transaction, which promises to be one of the largest and most complex of the year for the luxury sector.

Subscribers only Houses 20.06.2024

France, United Kingdom
De Beers goes head-to-head with Cartier in Paris

Before spinning off its De Beers subsidiary, Anglo American is trying to increase the diamond producer's value by developing its jewellery branch's network. The group has signed a costly lease for a shop on the Rue de la Paix, just opposite a Cartier outlet.

Free access Houses 13.06.2024

Front Row | France
André Messika, the Place Vendôme diamond dealer

As Glitz.paris revealed, jeweller Messika Paris is on the hunt for a new investor. Overseeing that quest is its founder and main shareholder, André Messika, who supplies diamonds to luxury brands and high-net-worth individuals.

Subscribers only Families 18.04.2024

China
De Beers leads charm offensive in China

With the price of natural diamonds in free fall since the summer and luxury consumption sluggish in Europe and the United States, market leader De Beers is focusing on China to mitigate losses.

Subscribers only Entourage 23.11.2023

United States
De Beers continues crusade against synthetic diamonds in NYC

The lobbying battle that has been raging for several months between players in the natural diamond industry and manufacturers of laboratory stones will come to a head next week at New York City Jewelry Week.

Subscribers only Entourage 09.11.2023

Spotlight | Saudi Arabia
Riyadh ramps up efforts to conquer luxury sector

Alongside China and South Korea, Saudi Arabia is one of the most dynamic luxury markets. It now hopes to convert rampant consumerism into buoyant business and make a name for itself in the sector. To that end, it is trying to build bridges with European countries, as well as major luxury groups, but with mixed results so far.

Subscribers only Entourage 02.11.2023

Saudi Arabia is trying to establish itself as a fully-fledged player in the luxury sector.

Russia
Luxury jewellers seek alternative solutions now that Russian diamonds are off limits

Unable to buy Russian diamonds due to US and EU sanctions, jewellery companies are looking for other options to help them play by the rules and polish up their reputations with clients.

Subscribers only Houses 29.06.2023

Document | Russia, United States
De Beers and Russian diamonds: Following up on our revelations

Since Glitz.paris disclosed that De Beers sold Russian stones in the United States in 2022, the diamond giant has fiercely denied it - letting slip some revealing information in the process.

Subscribers only Houses 08.06.2023

Russia, United States
De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion

De Beers claims to source its diamonds only from Africa and Canada, but last year it sold stones of Russian origin in the United States. The firm also bought diamonds in 2022 from the Russian firm Alrosa via an Israeli company.

Subscribers only Houses 25.05.2023

On our other sites

De Beers and Gaborone struggle to reach new diamond deal

Talks on Botswana's new deal with the global diamond giant have taken a tense turn after a leaked report accused De Beers of tax evasion. The two sides have until 30 June to hammer out an agreement to continue their long-standing partnership.

Subscribers only Southern Africa and islands Africa Intelligence 22.02.2023

Botswana Minister of Mines Lefoko Moagi.

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Anglo American
De Beers
De Beers Diamond Jewellers
Dubai Diamond Exchange
Investment Corporation of Dubai
Johann Rupert
LVMH
Mokgweetsi Masisi
Richemont

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Spotlight | Africa, Europe
Luxury sector frets over De Beers sale

This article may be accessed by subscribers

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Set up email notifications for these topics

Switzerland
Preparing his succession, Johann Rupert brings entire family into holding company that controls Richemont

Switzerland
Rupert clan bears hefty diamond loss

United Kingdom
Banks already at work on De Beers sale

France, United Kingdom
De Beers goes head-to-head with Cartier in Paris

Front Row | France
André Messika, the Place Vendôme diamond dealer

China
De Beers leads charm offensive in China

United States
De Beers continues crusade against synthetic diamonds in NYC

Spotlight | Saudi Arabia
Riyadh ramps up efforts to conquer luxury sector

Russia
Luxury jewellers seek alternative solutions now that Russian diamonds are off limits

Document | Russia, United States
De Beers and Russian diamonds: Following up on our revelations

Russia, United States
De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion

De Beers and Gaborone struggle to reach new diamond deal

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About Glitz.paris

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Glitz.paris on social media

Indigo Publications' websites

About Glitz.paris

Subscription

Indigo Publications' websites

The geopolitics of fake goods

Jacquemus, season 2

Hermès heirs at odds

Spotlight | Africa, Europe Luxury sector frets over De Beers sale

This article may be accessed by subscribers

Do you want a free trial before subscribing?

Create your free account

create a free account

Set up email notifications for these topics

Switzerland Preparing his succession, Johann Rupert brings entire family into holding company that controls Richemont

Switzerland Rupert clan bears hefty diamond loss

United Kingdom Banks already at work on De Beers sale

France, United Kingdom De Beers goes head-to-head with Cartier in Paris

Front Row | France André Messika, the Place Vendôme diamond dealer

China De Beers leads charm offensive in China

United States De Beers continues crusade against synthetic diamonds in NYC

Spotlight | Saudi Arabia Riyadh ramps up efforts to conquer luxury sector

Russia Luxury jewellers seek alternative solutions now that Russian diamonds are off limits

Document | Russia, United States De Beers and Russian diamonds: Following up on our revelations

Russia, United States De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion

De Beers and Gaborone struggle to reach new diamond deal

Set up email notifications for these topics

About Glitz.paris

Subscription

Glitz.paris on social media

Indigo Publications' websites

Spotlight | Africa, Europe
Luxury sector frets over De Beers sale

Switzerland
Preparing his succession, Johann Rupert brings entire family into holding company that controls Richemont

Switzerland
Rupert clan bears hefty diamond loss

United Kingdom
Banks already at work on De Beers sale

France, United Kingdom
De Beers goes head-to-head with Cartier in Paris

Front Row | France
André Messika, the Place Vendôme diamond dealer

China
De Beers leads charm offensive in China

United States
De Beers continues crusade against synthetic diamonds in NYC

Spotlight | Saudi Arabia
Riyadh ramps up efforts to conquer luxury sector

Russia
Luxury jewellers seek alternative solutions now that Russian diamonds are off limits

Document | Russia, United States
De Beers and Russian diamonds: Following up on our revelations

Russia, United States
De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion