SourcingApr 04, 2023
Botswana Government Takes Stake in HB Antwerp SourcingApr 13, 2023
Recovering Demand in China Boosts De Beers’ Sales
The company’s third-cycle sales totaled $540 million, down only slightly from the same period in a strong 2022.
De Beers Group’s rough diamond sales to sightholders and auction customers totaled $540 million in the third sales cycles of the year, down 5 percent compared with the prior-year period but up 9 percent when compared with the second sales cycles of 2022. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films)
Gaborone, Botswana—After a slower start to the year, De Beers Group’s rough diamond sales picked up in late March through mid-April.
The company announced Wednesday that rough diamond sales in the third sales cycles of 2023 (March 27-April 11) totaled $540 million.
That is down less than 5 percent when compared with the same period in 2022 ($566 million), a relatively small decline considering how strong the company’s sales were last year.
Compared with the second sales cycle of 2023 ($497 million), De Beers’ rough diamond sales were up nearly 9 percent.
New CEO Al Cook said third-cycle sales were in line expectations. He described diamond jewelry demand as “positive,” calling out China specifically.
“We have continued to see good demand for our rough diamonds over the third sales cycle of the year as we move into the second quarter of 2023,” he said.
“Sales were in line with expectations and we continue to see some encouraging positive trends in consumer demand for diamond jewelry, not least in China where we’re beginning to see some signs of recovery in consumer confidence following the relaxation of travel restrictions.”
Year-to-date, De Beers’ rough diamond sales have totaled $1.49 billion, lower than they were at this point last year ($1.88 billion).
Related stories will be right here …
The company announced Wednesday that rough diamond sales in the third sales cycles of 2023 (March 27-April 11) totaled $540 million.
That is down less than 5 percent when compared with the same period in 2022 ($566 million), a relatively small decline considering how strong the company’s sales were last year.
Compared with the second sales cycle of 2023 ($497 million), De Beers’ rough diamond sales were up nearly 9 percent.
New CEO Al Cook said third-cycle sales were in line expectations. He described diamond jewelry demand as “positive,” calling out China specifically.
“We have continued to see good demand for our rough diamonds over the third sales cycle of the year as we move into the second quarter of 2023,” he said.
“Sales were in line with expectations and we continue to see some encouraging positive trends in consumer demand for diamond jewelry, not least in China where we’re beginning to see some signs of recovery in consumer confidence following the relaxation of travel restrictions.”
Year-to-date, De Beers’ rough diamond sales have totaled $1.49 billion, lower than they were at this point last year ($1.88 billion).
De Beers’ announcement of its third cycle sales results comes amid speculation about the future of its relationship with Botswana.
De Beers and the government of Botswana are still operating under a sales agreement that dates to January 2011 and originally was set to expire at the end of 2020.
Under the terms of that agreement, Debswana, the mining company jointly owned by De Beers and the Botswana government, is bound to sell 75 percent of its rough diamond output to De Beers, while the remaining 25 percent is sold through the Okavango Diamond Company, which is owned by the Botswana government.
The two parties have pushed back the agreement’s expiration date three times. The current deadline to reach a new agreement is June.
De Beers told National Jeweler last week that it continues to work toward a new sales agreement for Debswana diamonds and the Debswana mining licenses.
The Latest
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
