De Beers Retail to Halt U.S. Expansion

This is from a Woman’s Wear Daily article today, which is behind a subscription firewall …

 

De Beers, the diamond jewelry firm, has no store openings planned for next year, as it takes a breather from a busy 2008.

“In 2008, we doubled the number of De Beers stores worldwide from 25 to 50, and in the U.S. from five to 11,” said Hamida Belkadi, chief operating officer of De Beers U.S. “In 2009, we do not plan on opening any additional stores and will focus on solidifying the existing 11 stores in each local market.”

This is surprising only in that the De Beers retail chain has been somewhat bucking the trend this past year. Tiffany has also said they will moderate (but not halt) planned store openings in 2009 …

JCK News Director