“With her rare magnetism and elegance, Lupita Nyong’o is a testament to the power of boundless possibilities,” said Marc Jacheet, De Beers CEO of brands.
“Embodying modern and responsible luxury, Lupita is an inspiration for all of us.”
Nyong’o is best known for her appearance in films such as 12 Years A Slave (2013), Black Panther (2018), and Us (2019).
She will star in the Where It Begins campaign which is expected to launch internationally on 3 November.
Nyong’o will also join the Building Forever Goals program, which aims to engage 10,000 girls in science, technology, engineering and mathematics programs, as well as supporting 10,000 women entrepreneurs and investing $US10 million into communities in southern Africa.
De Beers hopes to achieve this by 2030.
Adjustment to buyback scheme
De Beers is reportedly easing buybacks for sightholders in response to softened demand.
According to reporting from Bloomberg News, sightholders are now able to reject one-fifth of goods over one carat from a parcel, rather than the standard 10 per cent.
“De Beers raised prices of rough diamonds throughout much of 2021 as it sought to recover from the first year of the pandemic,” the report reads.
“The unit of Anglo American has reported bumper sales so far this year after sanctions on Alrosa forced its Russian rival to stop selling through much of the spring, causing many buyers to seek supply from elsewhere.
“The increased buyback is a way for De Beers to offer sweeter terms without having to cut prices, a move that can trigger price falls across the wider market. It’s also a mechanism the company has used in the past when the market softens.”
De Beers has also confirmed the dates for sights in 2023, which are as follows: 16-20 January, 20-24 February, 27-31 March, 2-5 May, 5-9 June, 10-14 July, 14-18 August, 18-22 September, 23-27 October, 4-8 December.
More reading
De Beers changing leadership for 2023
Beers releases eighth cycle outcome, discovery in Zimbabwe
De Beers CEO forecasts Diwali disruption to diamond sales
Strong sales for De Beers amid robust demand
De Beers returning to Angola after strong start to 2022
Alrosa and De Beers reportedly hike prices of rough diamonds
De Beers extends contract in Botswana; forecasts positives in India
De Beers and Petra diamond sales increase, could benefit further from sanctions in Russia
De Beers uncertain to meet rough demand while diamond shortage worsens