The brand's transition from mining company to jewellery retailer was completed on 1 October. While the terms of the agreement remain largely unknown, it was announced that Boodles has acquired ownership of a range of trademarks associated with Argyle Pink Diamonds, along with the website and digital marketing assets.
The agreement also includes the acquisition of the last remaining pink diamond inventory from the Argyle Diamond Mine, which ceased production in November 2020. The Argyle site produced more than 90 per cent of the world’s pink fancy colour diamonds.
In a statement, Rio Tinto general manager of sales and marketing Patrick Coppens said that with an extensive history in the jewellery industry, Boodles would be a fitting custodian for the future of pink diamonds.
“Our priority has been to ensure that the Argyle Pink Diamonds brand remains with an owner who understands its history and can responsibly steward the brand into the future. We look forward to Boodles taking stewardship of the brand,” Coppens said.
Boodles managing director Jody Wainwright said that, after 25 years of association with pink diamond jewellery, the company was ‘honoured’ to be trusted with the brand's future.
"Boodles is deeply committed to these extraordinary Australian gemstones. The rarity and beauty of Argyle Pink Diamonds have helped to create exquisite jewellery designs for more than 40 years,” Wainwright said.
Who?
Boodles is a luxury British jewellery retailer which traces its company heritage back to 1798. It is headquartered in Liverpool and operates a flagship store on Old Bond Street in London. The company operates 10 stores in total, with other locations in London, Manchester, Dublin, Leeds, and Chester.
The company has a long association with pink diamonds. According to a Financial Times report, the jeweller first acquired a pink diamond in 1998. Wainwright told reporters that pink diamonds appear in about 5 per cent of the jewellery the company makes.
As mentioned, the agreement also includes acquiring the remaining Argyle pink diamond inventory held by Rio Tinto. Rio Tinto held its first pink diamonds tender in Antwerp in 1984, featuring 33 stones. The final Argyle tender was held in October 2021, comprising 70 diamonds weighing 81.63 carats, and commanded ‘record-breaking’ returns.
With that said, pink diamonds from the Argyle site continued to headline Rio Tinto tenders until October 2025, when the company hosted its final ‘Beyond Rare’ tender. The assortment (45.44 carats) included six ‘masterpieces’, seven curated diamond sets, and 39 single diamonds; however, some of those fancy colour stones were sourced from Canada’s Diavak Mine, which was closed in March 2026.
According to the Financial Times report, both parties declined to disclose the value or volume of the stones involved in the inventory transfer; however, Wainwright suggested that there were enough diamonds for a ‘slow release’ over the next decade.
The specific history of Argyle Pink Diamonds as a brand is far harder to discern. After the Argyle Mine closed in 2020, Rio Tinto announced it would retain the brand and continue operating as a fancy colour diamond specialist.
When the Icon Partner programme was launched in June 2022, the company said it had been managing the brand for more than ’30 years’ – which would place the launch of the brand in the late 1980s or early 1990s – a time when deliberate attempts to differentiate natural diamond and fancy colour marketing were underway. The Argyle Atelier and Authorised Partner brand licenses were expected to expire in December 2026.
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