Richemont, Signet Reported in Talks to Join De Beers Bid

By JCK News Desk | October 15, 2026

Luxury powerhouse Richemont and U.S. jewelry retail giant Signet Jewelers are in talks to join the consortium seeking to acquire De Beers from Anglo American, according to reports from Bloomberg and Reuters. The negotiations are advanced, Bloomberg reported, though there is no guarantee either company will ultimately participate.

The two companies are discussing joining the Global Diamond Consortium (GDC), which is headed by former De Beers CEO Gareth Penny and emerged in July as the preferred bidder for De Beers. The consortium also has been negotiating with Botswana, which currently owns 15% of De Beers, about increasing the country’s stake to around 25%.

The potential involvement of Richemont is significant because of its position at the top end of the jewelry market. The Swiss luxury conglomerate owns Cartier and Van Cleef & Arpels, as well as watch brands including Vacheron Constantin, and its jewelry division accounts for about three-quarters of its business. An RBC Capital Markets analyst told Bloomberg that as a major user of De Beers diamonds, Richemont would have an important voice in the future of the natural diamond industry.

Signet, meanwhile, is one of the world’s largest jewelry retailers and owns the U.S. chains Kay Jewelers, Zales, and Jared. Bloomberg noted that the diamond industry has long sought greater support from luxury and jewelry retailers in promoting natural diamonds, making the possible participation of both Richemont and Signet particularly noteworthy as the category faces competition from lab-grown stones.

Neither company’s proposed investment would necessarily be large. Bloomberg reported that Botswana, Namibia, and Angola are expected to hold significant stakes in De Beers and that several private investors are already committed to the consortium.

Reuters reported that acquiring a stake could give Richemont greater influence over an important part of its diamond supply chain. Richemont chairman and controlling shareholder Johann Rupert also has publicly affirmed his commitment to using natural diamonds in his company’s high-end jewelry brands, Reuters said.

Anglo American put De Beers up for sale in May 2024 as part of a broader restructuring while the diamond industry was struggling with falling prices, weakened Chinese luxury demand, and increasing competition from lab-grown diamonds.

The JCK News Desk uses AI to help research and produce the first draft of articles. This story was then reviewed by staff writer David Blomquist.

Photos: (l.) courtesy of Cartier; (r.) M.O. Stevens for Wikipedia under CC BY-SA 3.0 license