SourcingFeb 01, 2022
In Response to Demand, De Beers Ramps Up ProductionSourcingFeb 25, 2022
De Beers’ 2021 Rough Diamond Sales Up 75 Percent
Consumer sales of diamond jewelry in the U.S. surpassed sales in 2020 and 2019 in the first half of the year.
De Beers’ rough diamond sales rose 75 percent year-over-year in 2021 to $4.9 billion.
London—De Beers Group reported strong sales and diamond production in 2021, bolstered by increasing consumer demand in the U.S.
In the first half of the year, consumer sales of diamond jewelry in the U.S., as well as mainland China, surpassed sales in 2020 and pre-pandemic 2019.
Though the pandemic impacted its other markets in the first half, the company reported positive recovery across the board by the second half.
Holiday season sales increased by about one-third year-over-year.
Total revenue surged 66 percent year-over-year to $5.6 billion, compared with $3.4 billion in 2020.
Rough diamond sales were up 75 percent to $4.9 billion, compared with $2.8 billion in 2020.
Midstream capacity is recovering, said De Beers, in spite of a second wave of COVID-19 infections in India in the second quarter. Midstream sentiment and rough diamond demand were “robust” throughout 2021.
Downstream and midstream demand conditions continued to improve, which increased rough diamond production and prices from the “significant reductions” seen at the start of the pandemic, said De Beers.
Rough diamond sales volume were up 56 percent to 33.4 million carats, compared with 21.4 million carats in 2020.
The average realized price was $146 per carat, up 10 percent from $133 per carat in 2020, which De Beers attributed to positive market sentiment that led to an 11 percent increase in the average rough price index.
Rough diamond production was up 29 percent to 32.3 million carats, compared with 25.1 million carats in 2020, due in part to lower production and demand levels in 2020 related to COVID-19.
The miner battled operational issues and heavy rains in southern Africa in the first quarter, but increased production to meet demand.
De Beers attributed the strength of demand to a few factors, including an accumulation of savings by U.S. consumers, pent-up demand for weddings and engagements, less luxury travel, and the draw of diamonds as meaningful gifts.
Demand was also buoyed by its ongoing marketing campaigns, including a new campaign that is the first campaign to use the De Beers name and the iconic “A Diamond Is Forever” tagline together since the 1990s.
For De Beers’ branded diamond jewelry, consumer demand recovered in 2021, with De Beers Jewelers and De Beers Forevermark both posting double-digit retail growth year-over-year.
The company expanded its retail footprint, opening a new flagship store in London and new stores in China and Qatar.
Looking to the year ahead, De Beers expects the growth in consumer demand for diamonds to continue, driven by the U.S., due to continued economic recovery, higher accumulated savings, and postponed marriages.
“Rough diamond demand is expected to remain steady as the midstream continues to operate with lower stock levels, manufacturing below full capacity but using a faster manufacturing cycle,” said De Beers.
Though factors like COVID-19, geopolitical uncertainty, and cost inflation risks may still be present, midstream sentiment is expected to remain positive, due in part to the expectation of strong U.S. retailer restocking in the first quarter.
“The longer term evolution of the diamond value chain continues, including a sustained focus on inventory balance, the efficient distribution of diamonds throughout the pipeline, increased online purchasing, and a greater focus on the provenance and sustainability credentials of companies and their products,” said De Beers.
Production guidance for 2022 is 30 million to 33 million carats, though the forecast is subject to trading conditions and the possibility of COVID-19 disruptions.
De Beers said the long-term outlook for diamond jewelry demand remains positive.
More on Sourcing
The Latest
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
Weekly QuizJul 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
CollectionsAug 04, 2026
Musician Carlos Santana Launches Jewelry BrandSantana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.
CrimeAug 03, 2026
Florida Man Gets 15 Years in Trio of Jewelry Store RobberiesThe 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.
WatchesAug 03, 2026
Citizen's New Spider-Man Watch Is a Collector’s DreamThe watch’s dial features an original design by Marvel comics illustrator Adam Kubert.
CollectionsAug 03, 2026
Chatham Releases First Men’s CollectionThe new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.
TrendsAug 03, 2026
Amanda’s Style File: Spinel vs. Peridot While some August babies are team peridot, the month's time-honored birthstone, others are team spinel, the newer alternative.
TrendsJul 31, 2026
These Pieces of the Week Are Sweet Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.
MajorsJul 31, 2026
Macy’s Iconic Red Shopping Bag Sign Torn DownThe massive billboard has been in the same spot on the department store’s Herald Square flagship store for decades.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
SurveysJul 30, 2026
Consumer Confidence Slips in JulySurvey respondents were concerned about the rising prices of food and groceries as well as unemployment.
Events & AwardsJul 30, 2026
Vicenzaoro Releases 2026 Education LineupThe trade show, slated for Sept. 4-8 in Vicenza, Italy, will feature sessions on trends, AI, gemology, and manufacturing.
Events & AwardsJul 30, 2026
Hillsborough Show Moves to New Location for 2026The public shopping event featuring art, jewelry, watches, and rare collectibles, will take place in Santa Clara, California, this fall.
EditorsJul 29, 2026
Q&A: The Past and Future of Angola’s Diamond Industry Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.
MajorsJul 29, 2026
Kevin Reilly Retires After 39 Years in the Jewelry Industry Reilly has been with PGI USA for the last 20 years, leading partnership development and professional education.
FinancialsJul 29, 2026
Kering’s H1 Jewelry Sales Up 14%Boucheron reached record sales while Pomellato found success in its signature collections.
Events & AwardsJul 29, 2026
Lauren Harwell Godfrey Designs a Flag for ArkansasShe was one of more than 120 American designers who created flags for the “United Flags of Fashion” project led by CFDA and Vogue.
ColumnistsJul 28, 2026
Peter Smith: Why Your Job Postings May Be Working Against You Smith reveals the method The Retail Smiths use to help retailers and vendors write better job postings.
FinancialsJul 28, 2026
Tiffany & Co., Bulgari Lead the Way for LVMH in H1LVMH’s jewelry and watch brands outperformed the company’s other divisions in an environment the company described as “disrupted.”
CollectionsJul 28, 2026
Lionheart’s New Collection Unites Spiritual Iconography“Sacred Heart” features symbols like crosses, angel wings, the Star of David, and the evil eye as a representation of coexistence.
