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
FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’sPlus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
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.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
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.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
