SourcingJun 10, 2024
State of the Diamond Industry: Botswana Beyond DiamondsSourcingMay 24, 2024
De Beers’ Sales Slide in Fourth Round of Sales This Year
The company sold $380 million in rough diamonds, compared with $479 million in the same period last year.
De Beers Group’s latest round of rough diamond sales totaled $380 million, down 21 percent year-over-year. The company expects natural diamond sales to remain challenging in the near future but anticipates an uptick in engagements in the coming years. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films)
Gaborone, Botswana—De Beers Group’s rough diamond sales declined in the fourth sales cycle of the year, falling 21 percent year-over-year.
The company reported Thursday that its latest round of sales totaled $380 million, down from $479 million in the fourth sales cycle of 2023.
De Beers’ sales also fell 15 percent in comparison with the third sales cycle of 2024, when they totaled $446 million.
Year-to-date, De Beers sales fell slightly more behind last year following the fourth sales cycle.
The company’s rough diamond sales are now 17 percent lower than they were at this time last year, totaling $1.63 billion compared with $1.97 billion a year ago.
The slowdown, which CEO Al Cook explained as seasonal in part, comes as De Beers faces myriad issues, including competition from lab-grown diamonds, the complications caused by Russia’s war in Ukraine and the subsequent sanctions on Russian diamond miner Alrosa, and an uncertain future when it comes to corporate ownership.
Earlier this month, De Beers’ parent company Anglo American confirmed reports that it is looking to offload the diamond miner and marketer as it turns its attention to “green” energy commodities, like copper.
Related stories will be right here …
The company reported Thursday that its latest round of sales totaled $380 million, down from $479 million in the fourth sales cycle of 2023.
De Beers’ sales also fell 15 percent in comparison with the third sales cycle of 2024, when they totaled $446 million.
Year-to-date, De Beers sales fell slightly more behind last year following the fourth sales cycle.
The company’s rough diamond sales are now 17 percent lower than they were at this time last year, totaling $1.63 billion compared with $1.97 billion a year ago.
The slowdown, which CEO Al Cook explained as seasonal in part, comes as De Beers faces myriad issues, including competition from lab-grown diamonds, the complications caused by Russia’s war in Ukraine and the subsequent sanctions on Russian diamond miner Alrosa, and an uncertain future when it comes to corporate ownership.
Earlier this month, De Beers’ parent company Anglo American confirmed reports that it is looking to offload the diamond miner and marketer as it turns its attention to “green” energy commodities, like copper.
In commenting on the results, Cook pointed to quieter trading in India because of the elections—the country’s general elections are taking place now through June 1—and said short-term macroeconomic issues are going to continue to hamper natural diamond demand in the United States.
However, he expects the engagement ring market to pick up in the coming years as relationships that started post-pandemic blossom into engagements.
De Beers announced this week that it is collaborating with Signet Jewelers on a marketing campaign that will roll out in Q3 targeting “zillennials,” those born on the cusp of the millennial generation (1981-1996) and Generation Z (1997-2012), with natural diamond messaging.
Cook said, “As expected, De Beers’ rough diamond sales in the fourth cycle of the year trended lower, in line with the seasonally slower second quarter and a quieter period of trading in India during the elections.
“The focus of the global diamond industry now turns towards the JCK jewelry show in Las Vegas at the end of May. Demand trends in the U.S. are expected to be driven by short-term macroeconomic issues but supported in coming years by a recovery in engagements as the after-effects of pandemic lockdowns fade.”
Editors' Picks
Sponsored by
More on Sourcing
The Latest
SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
