Diamond Anniversary

In 2000, De Beers relinquished its hold on the market. JCK examines how the company’s dramatic moves still reverberate a decade later. Ten years ago, a century of diamond history came to an end.In June 2000, following a decade of plunging market share, De Beers officially said goodbye to the monopoly game. Over the next few years, it ceased stockpiling stones, unloaded billions in excess inventory, and shuttered its network of offices that purchased rough that fell outside the cartel. And while it once regularly maintained a 70 to 80 percent market share, its share of diamond production is now pegged at 40 percent.It was a sharp turnabout for a company that, for most of its 112-year history, had regularly preached that without single-channel marketing, prices would plummet and the industry would fall apart.Instead, De Beers said it would sell under a new policy dubbed Supplier of Choic

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