The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.
De Beers’ Ninth Cycle Sales Fall Short
They totaled $440 million, compared with $466 million in the same period last year.

Gaborone, Botswana—De Beers’ latest round of sightholder and auction sales totaled $440 million, 6 percent lower when compared with the same period last year.
The company continues to grapple with a slowdown in sales of smaller stones, due in part to financing issues in India in the wake of the $2 billion banking scandal linked to diamantaire Nirav Modi, though De Beers CEO Bruce Cleaver said sales in this area have picked up.
“As the industry’s focus turns toward the key end-of-year retail selling season, rough diamond sales continued to be in line with expectations during the ninth cycle of the year,” he said.
“While demand for smaller, lower-quality rough diamonds continues to see some challenges, the latest cycle saw some signs of improvement in this area as factories in India begin to reopen after Diwali.”
De Beers revised its sales figure for the eighth cycle upward, from the provisional total of $475 million reported in October to $482 million.
Here’s how De Beers’ sales compare so far this year.
The company’s 2018 sales total $4.85 billion to date and remain on par with 2017 sales.
The Latest

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.


Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

“The Jewelry Book” comes out this September.

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker started at Williams Jewelers when she was 18 years old.

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.