De Beers Group Buys Out LVMH, Fully Owns DB Diamond Jewellers

Jewelry
21/03/2017 12:56

De Beers Group announced today that it has successfully concluded the purchase of LVMH’s 50 per cent shareholding in De Beers Diamond Jewellers to take full ownership of the company, the company announced today in a press release. De Beers Diamond Jewellers’ retail network comprises 32 stores in 17 key consumer markets around the world. This includes a growing business in greater China and with Chinese clients worldwide, an established presence in London and Paris, and a new flagship location in New York City.

Bruce Cleaver, CEO, De Beers Group, said: "With its strong brand awareness, consummate diamond expertise and a commitment to responsibility, De Beers Diamond Jewellers is a trusted and industry-leading diamond jeweller. 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.”

Francois Delage, CEO, De Beers Diamond Jewellers, said: “De Beers Diamond Jewellers is firmly established as one of the world’s leading diamond jewellery retailers. We already have a shared heritage and strong brand link with De Beers Group. By being fully part of the Group, we will benefit even more from the unique diamond culture, established since 1888. We will continue to offer passionate and peerless diamond expertise to our discerning clients around the world.”