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.
SourcingNov 11, 2013
De Beers holds first sight in Botswana
This week marks De Beers’ inaugural sight in Gaborone following the relocation of its sales activities from London to Botswana, a move that has been two years in the making.
Gaborone, Botswana--This week marks De Beers’ inaugural sight in Gaborone following the relocation of its sales activities from London to Botswana, a move that has been two years in the making.
De Beers first announced that it would be moving its sorting operations some 5,400 miles south in September 2011 when it inked a new 10-year sales agreement with the Botswana government.
The move impacted about 120 members of De Beers’ London-based staff and about 80 of them opted to make the move, with Batswanas accounting for the other 50 percent of the 160-member Botswana-based team.
Among those who won’t be making Gaborone a permanent home is Varda Shine. About two weeks ago, news surfaced that Shine, the executive vice president of global sightholder sales, would be stepping down at the end of January to “explore other opportunities.”
Paul Rowley, the senior vice president of midstream operations for global sightholder sales at De Beers, will replace Shine, who was with the company for more than 30 years.
Rumors about Shine’s imminent departure had been circulating for some time, citing conflict between her and De Beers Group CEO Philippe Mellier. On Thursday, Diamond Intelligence Briefs (DIB) reported that De Beers chose not to renew Shine’s contract even after she had asked to stay on board for another two years.
A De Beers spokeswoman called the DIB report “inaccurate.”
“After completing the migration of De Beers’ sales activities from London to Gaborone, Varda took the decision that after a 30-year career with De Beers, and eight heading up the DTC /global sightholder sales, the relocation of the organization provided a clear point of transition for the business and her career,” spokeswoman Lynette Gould said. “Varda has been grooming a highly experienced leadership team for a number of years and her successor Paul Rowley comes into the role with decades of experience and strong relationships with both sightholders and governments built over years.”
Ben Janowski, a New York-based diamond industry analyst who heads Janos Consultants, said Shine’s departure did not surprise him in the least.
He said it is probably the result of a combination of factors: a new CEO with different ideas about how to run the business--Mellier joined the company in July 2011 from Alstom Transport--and the prospect of relocating to a city with a completely different lifestyle with a company that has a somewhat limited future.
Janowski said De Beers encompasses its diamond mines in Botswana, a few mines in other locations and the Forevermark program. This, perhaps, is not enough to convince executives like Shine and other employees that it’s worth their while to uproot their lives, he said.
Shine’s not the first high-ranking executive to not make the transition to Botswana. Over the summer, news surfaced that Mahiar Borhanjoo, De Beers vice president of global sightholder sales, wouldn’t be relocating. Industry sources tell National Jeweler that the resignation of another top executive is expected in the next couple of weeks.
“Is this really a future for De Beers?” Janowski said of the mines and Forevermark. “It doesn’t sound like much.”
He added that it was not a new topic. “There’s been an issue for years about where De Beers is going.”
De Beers’ first sight in Botswana runs through Thursday.
More on Sourcing
The Latest
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.
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.
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.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
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.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’ The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
