3 Questions With…Paul Rowley

Following De Beers’ August sight, Paul Rowley, the company’s executive vice president of global sightholder sales, spoke to JCK about the current state of the diamond market.  JCK: There are reports that De Beers lowered prices at its August sight 9 to 10 percent. Is that true? Rowley: We won’t give numbers, but we have reduced prices. If you look at the half-year results, we have reported that prices decreased 8 percent.  Polished prices are under pressure, and there is an overhang of polished coming into the market. Our response has been a significant cut in production and to allow our sightholders more flexibility and to make a greater investment in marketing. We feel that is the proper response.  JCK: What caused the current problems? Rowley: We are coming off the back of last year, which was a very good year. At the beginning of this year, th

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