De Beers Group has successfully concluded the purchase of LVMH’s 50% shareholding in De Beers Diamond Jewellers to take full ownership of the company.
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.
Chief executive of De Beers Group Bruce Cleaver 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.”
Chief executive of De Beers Diamond Jewellers François Delage added: “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.”