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.
More on Sourcing
The Latest
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
