De Beers Group takes full ownership of eponymous retail brand
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The De Beers Group has concluded the acquisition of LVMH’s 50% shareholding in De Beers Diamond Jewellers, to take full ownership of the company.
The De Beers Diamond Jewellers’ retail chain comprises 32 stores in 17 consumer markets around the world, including a growing business in greater China, an established presence in London and Paris and a new flagship location in New York City.
Bruce Cleaver, CEO of De Beers Group, said that fully integrating the De Beers Diamond Jewellers brand and store network will enable the company to deliver an “even more differentiated diamond offering”, alongside its existing diamond brand, Forevermark.
Earlier this year the De Beers Group of Companies announced Forevermark – launched in 2008 – had passed 2,000 retail doors globally.
Francois Delage, CEO of De Beers Diamond Jewellers, said: “De Beers Diamond Jewellers is firmly established as one of the world’s leading diamond jewellery retailers. We already have a shared heritage and strong brand link with De Beers Group.
“By being fully part of the group, we will benefit even more from the unique diamond culture, established since 1888.”
