De Beers buys out retail partner LVMH

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De Beers has acquired LVMH’s 50 per cent interest in De Beers Diamond Jewellers for an undisclosed amount. Now, De Beers is operating as the sole owner of the retail operation.

 

“More fully integrating the De Beers Diamond Jewellers brand and store network will enable us to deliver an even more differentiated diamond offering, alongside our fast-growing diamond brand Forevermark,” says De Beers Group chief executive Bruce Cleaver.

 

The retail network of De Beers Diamond Jewellers’ includes 32 stores in 17 countries. As of now, this involves a budding business in China, an already established setup in London and Paris, and a brand new flagship location in New York.

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