The De Beers-owned lab-grown diamond company dropped the price on its standard offerings from $800/carat to $600/carat.
The luxury conglomerate owns Boucheron, Pomellato, DoDo, and Qeelin.
While sales rose in the U.S. market, demand for watches and jewelry was slow in the U.K.
The company did not file its annual 10-K Form, the form that gives a comprehensive summary of financial performance over the past year.
Buccellati, Cartier, and Van Cleef & Arpels propelled the luxury titan to its highest quarterly sales total ever.
In its recent third-quarter results, CEO Beth Gerstein also shared her holiday prediction for the upcoming season.
However, the company’s jewelry brands seemed to hold their own.
The company is pulling back on sales amid oversupply in the midstream and slumping diamond jewelry demand.