De Beers is delaying its planned reinvention because of a European Commission investigation into the company.
De Beers’ new strategy, dubbed “Supplier of Choice,” was due to start next month. There was widespread speculation that the launch would be accompanied by the dropping of sightholders and information about the new “Forever mark” co-brand.
However, the European Commission last month began an investigation into the new strategy, to determine whether it will violate E.C. anti-trust rules. The E.C. is already investigating De Beers’ retail venture with LVMH.
De Beers spokesman Andrew Lamont said that De Beers wanted to hear the E.C.’s reaction to the LVMH venture before it goes ahead. The E.C. is due to report its finding August 28.
“We feel we can learn a lot from that,” Lamont said.Follow JCK on Instagram: @jckmagazine
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