The De Beers Group has successfully bought out Moët Hennessy Louis Vuitton’s (LVMH) 50 per cent ownership of De Beers Diamond Jewellers and now holds 100 per cent of the company.
“De Beers Diamond Jewellers is firmly established as one of the world’s leading diamond jewellery retailers. We already have a shared heritage and strong brand link with De Beers Group,” says Francois Delage, De Beers Diamond Jewellers CEO. “By being fully part of the [De Beers Group], we will benefit even more from the unique diamond culture, established since 1888. We will continue to offer passionate and peerless diamond expertise to our discerning clients around the world.”
Today, De Beers Diamond Jewellers have a retail network of 32 stores in 17 consumer markets including China, Paris, London, and New York.
I have heard a persistent rumour that DeBeers is liquidating their diamond holdings in preparation to entering into the pharmaceutical market.in the near future. Is there any truth to this rumour?