TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
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.
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
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
SurveysOct 01, 2025
Consumer Confidence Hits 5-Month Low in September Respondents were concerned about job availability and rising prices.
MajorsSep 30, 2025
Pandora CEO to Retire in 2026, Hand Reins to CMO Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.
CrimeSep 30, 2025
2 Suspects Charged in $300K Sleight-of-Hand Jewelry Store ScamTwo men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.
CollectionsSep 30, 2025
Billie Eilish, Finneas Partner with John HardyThe “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.
IndependentsSep 30, 2025
Spinelli Kilcollin Announces Residency in DallasThe brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
TrendsSep 29, 2025
Amanda’s Style File: Ear FocusMove over neck mess, the ear story is the way to make a layering statement today.
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in CanadaThe New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.
MajorsSep 29, 2025
Overnight Releases New Bridal CatalogThe “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard SaysHoliday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky RingThe red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-InA trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond ProductionThe manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHoThe jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.
WatchesSep 25, 2025
Wilson & Son Jewelers Donates to the Horological Society of New YorkThe Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.
