Everyone expected big news from De Beers' July press conference. At least three newspapers predicted the company would declare the end of its 100-year-old cartel.But when the moment came, executives spelled out a series of changes but adamantly refused to declare the end of the diamond world as we know it. "De Beers is not giving up its leadership position," De Beers chairman Nicky Oppenheimer toldJCK in an exclusive interview. "We want to remain the leading diamond company in the world." The company did make one, largely symbolic, gesture that signals the dawn of the old order: It will no longer use the cartel-signifying Central Selling Organisation. But otherwise, reporters were left puzzled. One noted in a TV interview with managing director Gary Ralfe, "You're still the dominant player. Won't you end up operating a bit like a cartel?"And it's true, the structure and rudiments of

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).


Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out