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Rough diamond sales continued at a lower level during the sixth sales cycle of the year. | Source: De Beers
Rough diamond sales continued at a lower level during the sixth sales cycle of the year. | Source: De Beers

Sixth consecutive sales decline for De Beers

The De Beers Group has reported a sixth consecutive decrease in sales after the conclusion of the latest cycle on 25 July.

Sales reached $US410 million ($AU615.5 million) for the sixth cycle. That’s a 36 per cent decrease from the same period in 2022, at which sales reached $US638 million ($AU957.8 million).

The latest results are also a 10 per cent decrease from the fifth cycle in June, at which sales reached $US450 million ($AU675.1 million).

CEO Al Cook said these results were in accordance with expectations.

“In line with seasonal trends, rough diamond sales continued at a lower level during the sixth sales cycle of the year,” he said.

Al Cook, De Beers CEO
Al Cook, De Beers CEO
"Participants in the diamond industry’s midstream sector continue to take a cautious approach to purchases in light of ongoing macroeconomic challenges."
Al Cook, De Beers CEO

“Participants in the diamond industry’s midstream sector continue to take a cautious approach to purchases in light of ongoing macroeconomic challenges.”

The next De Beers sight is scheduled for 14-18 August.

Lightbox under the microscope

In June, Lightbox Jewelry – the De Beers-owned lab-created diamond jewellery brand – made waves with a trial of engagement rings.

In an interview with Rapaport News, De Beers chief financial officer Sarah Kuijlaars said that the company still views natural and lab-created diamonds as distinct categories.

“We knew that lab-created would make inroads in the US. I think against that tougher macro background it’s understandable that consumers [are] making different choices. But we still firmly support the differentiation of the market,” Kuijlaars said.

“[They are] different products [and] different markets. And I think what’s interesting is that that there are elements of lab-created that [are] actually supporting the expansion of the overall jewellery market, which is healthy [for] everyone.”

The Lightbox collection consists of 16 rings featuring lab-created diamonds, including white and blue diamonds, with prices ranging from $AU895 to $AU8,950.

More reading
De Beers CEO clarifies future plans amid dwindling sales
De Beers delays rough diamond sales as demand decreases
Pleasing demand for De Beers rough, lab-created sales surging
De Beers says lab-created diamond category ‘distinct and separate’
Diamond sales continue to slow for mining giant
Sales performance overcomes sluggish second half for De Beers
Diamond sales slump for De Beers

 











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