De Beers has purchased a 25 per cent stake in its online auction service provider, Curtis Fitch.
“De Beers’ leadership in the rough diamond online auction space is grounded in our ability to understand the needs of our global customer base and provide them with opportunities to secure supply that matches their unique and evolving requirements,” said Neil Ventura, De Beers’ senior vice-president, auction sales.
“De Beers’ investment in Curtis Fitch underpins our long-term commitment to rough diamond auctions. It enhances our ability to drive the innovation necessary to maintain a responsive and relevant source of supply for our customers, create value for their businesses, and keep our auction platform at the forefront of the industry.”
De Beers sells about 10 per cent of its global rough diamond supply through auctions. Curtis Fitch will remain an independently managed business, although De Beers will occupy two seats on its board.
