De Beers Sees Diamond Sales Fall

De Beers' diamond sales may fall as much as 15% this year, executives said recently. If the prediction is true, this would be the company's worst year since 1997. Both 1999 and 2000 set annual sales records. The potential drop was pegged to high inventories accumulated before the Christmas 2000 season. Some analysts, however, said 15% was a low-ball number and felt that De Beers was "talking the market down" to convince investors to back its plan to "go private." Some analysts oppose the plan, claiming it undervalues the company. Even so, no one doubts De Beers' sales will drop, but analysts peg the number closer to 10%.

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