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

Published on 23.05.2024 at 05:00 GMT Reading time 3 min

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.

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Spotlight
Luxury operators in running to buy De Beers

Despite the crisis in the diamond market, Anglo American's decision to put its diamond subsidiary up for sale has generated interest not only among luxury sector players but also state actors, in particular Qatar. Russia is also waiting quietly in the wings.

Subscribers only Qatar, Russia Houses 02.09.2025

The luxury sector and state actors are queuing up to take over the diamond giant.

Tasaki pearls to get showcase on Rue de la Paix

The Japanese jewellery maker, which was bought by Asian equity funds last December and is in the select circle of jewellers supplied by De Beers, is preparing to open its first own-brand boutique in Paris.

Subscribers only France, Japan Houses 27.03.2025

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 Switzerland Families 07.11.2024

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 Switzerland Families 19.09.2024

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 United Kingdom Houses 20.06.2024

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 France, United Kingdom Houses 13.06.2024

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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.

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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.

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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.

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Spotlight
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.

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

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.

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Document
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.

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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 Russia, United States Houses 25.05.2023

On our other sites

Luanda mounts diamond charm offensive in Antwerp

Mining Minister Diamantino Azevedo led a large delegation to the Flemish city, the global centre of the diamond trade. Although he met with major dealers there, they are reluctant to set up operations in Angola, which sells most of its precious stones to Dubai.

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The Grand Place near the Brabo Fountain in Antwerp, Belgium, in November 2025.

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Under the scrutiny of the new authorities for his role in the mining negotiations with HB Antwerp and De Beers, the advisor of former president Masisi has taken a majority stake in a leading hospital.

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Diamond trader HB Antwerp's charm offensive with President Boko

Worried about the future of their partnership with Gaborone, which was secretly negotiated with former president Mokgweetsi Masisi, the directors of HB Antwerp, who have not yet been able to meet the new head of state, are launching their media campaign in Gaborone.

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Botswanan President Duma Boko in Harare, Zimbabwe, 20 November 2024.

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.

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Botswana Minister of Mines Lefoko Moagi.

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

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.

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Create your free account

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Related topics to this article

Read also

Spotlight
Luxury operators in running to buy De Beers

Tasaki pearls to get showcase on Rue de la Paix

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

Rupert clan bears hefty diamond loss

Banks already at work on De Beers sale

De Beers goes head-to-head with Cartier in Paris

Front Row
André Messika, the Place Vendôme diamond dealer

De Beers leads charm offensive in China

De Beers continues crusade against synthetic diamonds in NYC

Spotlight
Riyadh ramps up efforts to conquer luxury sector

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

Document
De Beers and Russian diamonds: Following up on our revelations

De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion

Luanda mounts diamond charm offensive in Antwerp

Businessman Bame Pule seeks government's good graces with local investments

Diamond trader HB Antwerp's charm offensive with President Boko

De Beers and Gaborone struggle to reach new diamond deal

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About Glitz

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De Beers

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

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.

This article may be accessed by subscribers

Do you want a free trial before subscribing?

Create your free account

create a free account

Related topics to this article

Read also

Spotlight Luxury operators in running to buy De Beers

Tasaki pearls to get showcase on Rue de la Paix

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

Rupert clan bears hefty diamond loss

Banks already at work on De Beers sale

De Beers goes head-to-head with Cartier in Paris

Front Row André Messika, the Place Vendôme diamond dealer

De Beers leads charm offensive in China

De Beers continues crusade against synthetic diamonds in NYC

Spotlight Riyadh ramps up efforts to conquer luxury sector

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

Document De Beers and Russian diamonds: Following up on our revelations

De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion

Luanda mounts diamond charm offensive in Antwerp

Businessman Bame Pule seeks government's good graces with local investments

Diamond trader HB Antwerp's charm offensive with President Boko

De Beers and Gaborone struggle to reach new diamond deal

About Glitz

Subscription

Glitz on social media

Indigo Publications' websites

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

Spotlight
Luxury operators in running to buy De Beers

Front Row
André Messika, the Place Vendôme diamond dealer

Spotlight
Riyadh ramps up efforts to conquer luxury sector

Document
De Beers and Russian diamonds: Following up on our revelations