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
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Weekly QuizMar 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
Events & AwardsMar 26, 2026
NAJA, Instappraise Introduce New ScholarshipIt’s the third scholarship to be launched as part of the partnership to help appraisers advance their professional credentials.
Events & AwardsMar 26, 2026
JA Still Accepting Entries for 2026 CASE AwardsThe deadline for entries in the jewelry design competition has been extended to April 3.
SourcingMar 25, 2026
Rob Bates Steps Down as JCK News Director After 28 years with JCK, the veteran industry journalist is launching his own publication on Substack called The Jewelry Wire.
GradingMar 25, 2026
New York’s Natural History Museum, Wiley To Build Minerals DatabaseWiley said the project will give scientists worldwide access to the American Museum of Natural’s History renowned mineral collection.
CollectionsMar 25, 2026
Boochier Turns Flower Friendship Bracelets Into Fine JewelryThe “Flower Puff” collection looks to beaded flower friendship bracelets from childhood, turning the silhouette into nostalgic fine jewelry.
Policies & IssuesMar 25, 2026
Community for Ethical Jewelry to Host Bench Jeweler Shortage WebinarSet for April 2, the webinar will discuss how the jewelry industry can address the workforce gap.
IndependentsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
