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Spotlight | De Beers
With no buyer in sight, the diamond giant trims client list

Contending with difficulties on several fronts, De Beers has cut ties with a third of its sightholders, retaining only the biggest buyers.© Studio Pachamama

Around 20 diamond dealers and jewellers were informed last month by De Beers that they would no longer be invited to purchase diamonds from the company. This is a bombshell decision, coming at a time when the firm is producing fewer and fewer stones and struggling to find buyers.

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Families

Rupert family
Richemont's shareholders build huge war chest

Within a year, the head of the Swiss luxury goods company has sold off all the assets held by the family's main investment vehicle, Reinet, leaving his family with a substantial cash reserve.

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Chopard
Scheufele family bring star banker on board

A shareholder in Chopard since the 1960s, the German jewellery dynasty has for the first time recruited an outsider to the board of its holding company.

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Houses

LVMH
Delphine Arnault gets coaching from retail veteran Chris de Lapuente

Though he left LVMH over a year ago, the former boss of Sephora and the luxury giant's duty-free subsidiary is continuing to advise some of the group's top executives, not least the head of Dior Couture.

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Patek Philippe
Stern family promotes a manager while the fourth generation is groomed

Thierry Stern, grandson of Patek Philippe's founders and president of the watchmaker, set out his succession plans in a rare magazine interview earlier this month. But the promotion of his right-hand man and general manager of the company has somewhat passed under the radar.

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Entourage

Monogram
Luxury bags on sale in Paris auction as riled clients still chase theirs

Former customers of the defunct resale platform Monogram fear their missing luxury goods are among 358 items heading to auction in Paris, fuelling disputes over ownership and casting a shadow over the firm's liquidation process.

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