Lab-GrownFeb 26, 2024
Lightbox ‘Significantly’ Lowered Its Prices in Q4SourcingMar 14, 2024
De Beers Says Retailers Are ‘Restocking Conservatively’
The company’s rough sales improved for the third sales cycle in a row.
Rough diamond sales totaled $430 million in De Beers Group’s second cycle of sales for 2024, compared with $497 million in the same time period last year. (©De Beers Group/Photo credit: Ben Perry, Armoury Films)
Gaborone, Botswana—De Beers Group’s rough diamond sales improved again in February, though the company’s CEO noted that U.S. retailers are still being cautious with their buying.
During its second sales cycle of 2024, De Beers sales totaled $430 million, down 13 percent when compared with the same period last year ($497 million) but up 15 percent compared with the first round of sales in 2024, which totaled $374 million.
It is the third sales cycle in a row in which De Beers’ sales have increased.
Year-to-date, the company’s rough diamond sales have totaled $804 million, compared with $951 million in 2023.
Related stories will be right here …
During its second sales cycle of 2024, De Beers sales totaled $430 million, down 13 percent when compared with the same period last year ($497 million) but up 15 percent compared with the first round of sales in 2024, which totaled $374 million.
It is the third sales cycle in a row in which De Beers’ sales have increased.
Year-to-date, the company’s rough diamond sales have totaled $804 million, compared with $951 million in 2023.
The recovery follows a year in which sales dipped as low as $86 million as Indian industry leaders called for a two-month ban on rough diamond imports due to the glut of supply in the midstream.
De Beers CEO Al Cook expects rough diamond sales to continue to increase gradually in 2024.
He said, “I’m pleased to see a further increase in demand for De Beers rough diamonds during the second sales cycle of 2024.
“However, ongoing economic uncertainty in the U.S. has led to retailers restocking conservatively after the 2023 holiday season. Consumer demand for diamond jewelry is growing in India but remains sluggish in China. Overall, we expect that the ongoing recovery in rough diamond demand will be gradual as we move through the year.
Editors' Picks
Sponsored by
SourcingFeb 22, 2024
Lucara, HB Group Partnership Revived 
SourcingFeb 15, 2024
De Beers’ Production Down 8% in 2023More on Sourcing
The Latest
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat RubyThe ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair ServicesThe auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024The company also noted record sales in the United States and a strong performance in its jewelry category.
