WatchesNov 12, 2026
Zadok Jewelers Now Offers Certified Pre-Owned Rolex WatchesThe curated selection is available online and at its showroom in Austin, Texas.
SourcingFeb 21, 2017
De Beers Sees Sales, Profits Jump in 2016
The diamond miner and marketer said U.S. diamond jewelry demand continued to grow, boosted in part by fourth quarter marketing campaigns.
Rough diamond sales increased 37 percent in 2016, reaching $5.6 billion as demand for polished diamonds continued to grow in the United States. (Photo courtesy of De Beers)
London--De Beers’ sales and profits jumped in 2016 due to stronger rough diamond demand, cost-cutting measures and favorable exchange rates, parent company Anglo American reported Tuesday.
De Beers’ total revenue increased 30 percent from $4.7 to $6.1 billion on the back of a 37 percent increase in rough diamond sales, which totaled $5.6 billion.
Consolidated rough diamond sales volumes rose 50 percent to 30 million carats but the average realized price per carat fell from $207 to $187 due to the drop in rough prices.
Underlying EBITDA (earnings before interest, taxes, depreciation and amortization) rose 42 percent to $1.4 million.
On a market-by-market basis, there was “sustained” growth in demand for diamond jewelry in the United States, which remains De Beers’ No. 1 market globally.
Additional generic diamond marketing in the fourth quarter had a “positive impact” on demand, De Beers’ year-end results stated. There were two new diamond-centric campaigns targeting consumers at the end of last year, Forevermark’s “Ever Us” and the “Real is Rare” campaign from the Diamond Producers Association.
Rough diamond production, meanwhile, was down 5 percent compared with the previous year to 27.3 million carats due to De Beers’ decision to scale back mining operations following a weak 2015.
Botswana produced the vast majority of De Beers’ diamonds in 2016, accounting for 20.5 million carats, or 75 percent of total production.
De Beers’ total revenue increased 30 percent from $4.7 to $6.1 billion on the back of a 37 percent increase in rough diamond sales, which totaled $5.6 billion.
Consolidated rough diamond sales volumes rose 50 percent to 30 million carats but the average realized price per carat fell from $207 to $187 due to the drop in rough prices.
Underlying EBITDA (earnings before interest, taxes, depreciation and amortization) rose 42 percent to $1.4 million.
On a market-by-market basis, there was “sustained” growth in demand for diamond jewelry in the United States, which remains De Beers’ No. 1 market globally.
Additional generic diamond marketing in the fourth quarter had a “positive impact” on demand, De Beers’ year-end results stated. There were two new diamond-centric campaigns targeting consumers at the end of last year, Forevermark’s “Ever Us” and the “Real is Rare” campaign from the Diamond Producers Association.
Rough diamond production, meanwhile, was down 5 percent compared with the previous year to 27.3 million carats due to De Beers’ decision to scale back mining operations following a weak 2015.
Botswana produced the vast majority of De Beers’ diamonds in 2016, accounting for 20.5 million carats, or 75 percent of total production.
Editors' Picks
Sponsored by
De Beers’ second largest producer was its mines in South Africa at 4.2 million carats followed by Namibia (1.6 million) and Canada (1 million).
Production was flat year-over-year in Botswana while declining in South Africa, Namibia and Canada.
In South Africa, the drop was due mainly to the sale of the Kimberley Mines, which was completed in January 2016.
The production decline in Canada was attributed to the closure of the Snap Lake Mine. De Beers said it began flooding the underground portion of the mine in January 2017 after an attempt to find a buyer for Snap Lake failed.
De Beers Diamond Jewellers, the chain of jewelry stores De Beers operates in partnership with LVMH, had 34 stores in 17 markets worldwide as of the close of 2016. Also last year, the company moved its New York flagship store to a new location on Madison Avenue to complete “the repositioning of the brand in the U.S.”
In 2017, De Beers predicts that production will increase to 31-33 million carats, with rough diamond demand expected to normalize and consumer demand worldwide expected to remain relatively stable.
However, the extent of growth in demand for diamonds will be dependent upon a number of macro-economic factors including the new administration in the U.S. and the strength of the U.S. dollar, De Beers said.
More on Sourcing
The Latest
Lab-GrownNov 10, 2026
GIA Examines Pink Lab-Grown Diamond Made to Look NaturalThe 6-carat CVD-grown pink diamond was “deliberately modified” to mimic the appearance of a natural rough diamond, the lab said.
ColumnistsNov 10, 2026
Who Checks the Facts When AI Writes Your Jewelry Copy?An incorrect AI-generated ad or product description can cost your store valuable consumer trust.
Brought to you by
DSF Antique Jewelry: Fine Jewelry, Signed Designers, and a World of Rare DiscoveriesWith over 50 years experience in the trade, DSF Antique Jewelry offers quality, craftsmanship, condition, and remarkable variety.
Events & AwardsNov 09, 2026
Here Are the 2027 Gem Award NomineesThese nine individuals and brands are up for a Gem Award in the Jewelry Design, Media Excellence, and Retail Innovation categories.
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeNov 09, 2026
Jeweler Pistol-Whipped, $900K in Jewelry Stolen During Home Invasion The incident, which happened in Miami-Dade County, serves as a reminder to jewelers of the dangers of selling and storing jewelry at home.
GradingNov 09, 2026
GIA Acquires Thousands of Gem Specimens With ‘Extraordinary’ InclusionsGIA Analytical Microscopist John Koivula curated the collection of 2,665 crystals, gems, and minerals over a 60-year span.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
CollectionsNov 09, 2026
Bibi van der Velden’s Alligators Become High JewelryThe “Eclipse” collection, the brand’s first high jewelry line, centers its alligator motif in diamond and spinel jewels.
EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
