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Spotlight | Qatar, Russia
Luxury operators in running to buy De Beers

By Philippe Vasset

Published on 02.09.2025 at 05:00 GMT Reading time 4 min

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

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.

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

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

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Diamond industry at odds over funding its global lobbying and advertising

The Natural Diamond Council, set up to counter the growing threat posed by lab-grown stones, is short of cash. It wants to impose a levy on rough diamonds to pay for its expensive advertising campaigns, but disagreements over who should foot the bill are delaying implementation.

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De Beers has pledged to stump up $8m to help the Natural Diamond Council lobby against lab-grown stones.

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Kimai’s chief executive Jessica Warch has positioned her jewellery company in the high-end synthetic diamond niche.

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To counterbalance competition from lab-grown diamonds, marketed as more ethical by their producers, the diamond industry lobby is calling for a modernisation of a mechanism put in place in 2003 to stem the trade in so-called conflict diamonds.

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Diamond lobby eyes bilateral deals to limit US tariffs impact

The World Diamond Council failed to reach a comprehensive tariffs exemption deal for the sector with the United States. It is now encouraging diamond-producing and -cutting countries to try to strike bilateral agreements with the Trump administration.

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Qatari royal family keeps Balmain afloat

With sales in freefall and losses mounting, Balmain is only surviving thanks to massive cash injections from its shareholder Mayhoola, which is owned by Qatar's ruling family and is desperately seeking to unburden the brand.

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Luxury property tycoon Max-Hervé George and the lawsuit building in the background

After building up and then selling to Hungary's Central Bank the ultra-luxury property group Ultima, the French billionaire is now turning his attention to a new investment group and F1 racing. Yet in the wake of that real estate deal lies a trail of official investigations and lawsuits.

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36-year-old Max-Hervé George made his fortune in real estate, but is still associated with the controversial share-price collapse of Ultima Capital.

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The double-faceted game of the Parikh diamond dynasty

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The Parikh natural diamond dynasty is increasingly investing in the synthetic stones market.

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

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Sheikha Moza, invisible luxury royalty

The emir of Qatar's mother is more open about her philanthropy work than her role in the fashion and luxury businesses. But Sheikha Moza bint Nasser Al-Missned has been pulling the strings behind every investment Doha's ruling family has made in those sectors over the past decade.

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Sheikha Moza bint Nasser Al-Missned, the Emir of Qatar's mother.

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

Botswana's head of state commandeers De Beers acquisition project

Botswana's president has sidelined his mines minister, Bogolo Kenewendo, to himself conduct negotiations with Angola and Oman aimed at creating a consortium to buy Anglo American's 85% stake in the diamond giant.

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Botswana's President Duma Boko visiting the US State Department in Washington, 7 March 2025.

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Spotlight | Qatar, Russia
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.

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Related topics to this article

Read also

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

In Focus
Diamond industry at odds over funding its global lobbying and advertising

Front Row
Jessica Warch, the synthetic diamond champion from Antwerp

Lab-grown competition prompts diamond lobby to push for new conflict diamond rules

Diamond lobby eyes bilateral deals to limit US tariffs impact

Qatari royal family keeps Balmain afloat

Front Row
Luxury property tycoon Max-Hervé George and the lawsuit building in the background

Front Row
The double-faceted game of the Parikh diamond dynasty

Spotlight
Luxury sector frets over De Beers sale

The strategy shift behind Balmain's executive exits

Front Row
Sheikha Moza, invisible luxury royalty

How might Kering's new strategic partnership with Mayhoola play out?

Luanda mounts diamond charm offensive in Antwerp

Botswana's head of state commandeers De Beers acquisition project

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De Beers

Spotlight | Qatar, Russia 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.

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

In Focus Diamond industry at odds over funding its global lobbying and advertising

Front Row Jessica Warch, the synthetic diamond champion from Antwerp

Lab-grown competition prompts diamond lobby to push for new conflict diamond rules

Diamond lobby eyes bilateral deals to limit US tariffs impact

Qatari royal family keeps Balmain afloat

Front Row Luxury property tycoon Max-Hervé George and the lawsuit building in the background

Front Row The double-faceted game of the Parikh diamond dynasty

Spotlight Luxury sector frets over De Beers sale

The strategy shift behind Balmain's executive exits

Front Row Sheikha Moza, invisible luxury royalty

How might Kering's new strategic partnership with Mayhoola play out?

Luanda mounts diamond charm offensive in Antwerp

Botswana's head of state commandeers De Beers acquisition project

About Glitz

Subscription

Glitz on social media

Indigo Publications' websites

Spotlight | Qatar, Russia
Luxury operators in running to buy De Beers

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

In Focus
Diamond industry at odds over funding its global lobbying and advertising

Front Row
Jessica Warch, the synthetic diamond champion from Antwerp

Front Row
Luxury property tycoon Max-Hervé George and the lawsuit building in the background

Front Row
The double-faceted game of the Parikh diamond dynasty

Spotlight
Luxury sector frets over De Beers sale

Front Row
Sheikha Moza, invisible luxury royalty