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
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
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.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
