ON News

Europe
June 21, 2017

Carla Fendi dies

Fashion
June 20, 2017

Marine Serre Wins LVMH Prize

Technology
June 11, 2017

From June 16 you can read ON EXPERIENCES Luxonomy

eLuxury
May 25, 2017

BENTLEY ON DEMAND: A NEW CONCIERGE-STYLE LUXURY EXPERIENCE

Economy
May 1, 2017

CVC Capital Partners has bought Breitling

eCommerce
April 27, 2017

LVMH launches Clos19

Economy
April 26, 2017

Gucci owner’s shares jump 9% after smashing forecasts

Economy
April 25, 2017

Bernard Arnault moved to consolidate control over Christian Dior

Videos
April 25, 2017

Pharrell Williams becomes first man to star in Chanel bag campaign

Economy
April 11, 2017

LVMH shares hit record high after Q1 sales beat

eCommerce
April 9, 2017

NEXT ERA: Valentino and Yoox Net-A-Porter join forces

Style
April 4, 2017

Spanish luxury brand Loewe debuts home collection

Events
April 4, 2017

42nd Middle East Watch and Jewellery Show

Economy
April 1, 2017

Piaget Gets New CEO

Tourism
March 31, 2017

Cuba is getting its first Luxury Hotel

Interviews
March 31, 2017

Nicol’s. History and heritage since 1917

Tourism
March 30, 2017

Renfe tourist trains will start the season in April

eCommerce
March 29, 2017

Amazon confirms acquisition of Souq

eLuxury
March 28, 2017

WeChat can help Cartier to conquer China

eCommerce
March 27, 2017

Emaar Malls confirms $800m bid for Souq.com

Events
March 26, 2017

Baselworld 2017 Highlights

Style
March 26, 2017

Chanel introduces in Baselworld his first “Monsieur”

Economy
March 26, 2017

When love ends: De Beers and LVMH

eCommerce
March 24, 2017

Amazon to acquire Souq, a Middle East clone

Technology
March 23, 2017

Montblanc launches its first smartwatch

Economy
March 22, 2017

Hermes reports record annual profits

Tourism
March 21, 2017

Flying Luxury Cruises are born

Economy
March 20, 2017

LVMH to acquire majority share in Maison Francis Kurkdjian

Interviews
March 15, 2017

Madrid, Luxury Real Estate sector with the expert Paloma Pérez Bravo

eCommerce
March 10, 2017

LVMH is launching in May an ecommerce site that would bring together all of its brands

When love ends: De Beers and LVMH

De Beers has confirmed that it has ended a joint venture with LVMH after more than 16 years, having bought back the 50 percent stake acquired by the French luxury conglomerate in 2001 for an undisclosed sum.

The joint venture saw a more seamless integration of the luxury jeweller’s brand and store network and allowed it to deliver a more differentiated diamond offering.

The move marks the end of a partnership that at the time, had intended to transform the way diamonds were sold to consumers, positioned more as fashion accessories or casual purchases that customers bought for themselves rather than as an occasional or formal gift for others.

De Beers’ venture into retail with LVMH formed part of an effort to transform itself from a mining company into a luxury goods firm. Comprising 32 stores, De Beers’ retail network spans 17 markets around the world, which includes its business in China, as well as London, Paris and a new flagship in New York.

“With its strong brand awareness, consummate diamond expertise and a commitment to responsibility, De Beers Diamond Jewellers is a trusted and industry-leading diamond jeweller,”said Bruce Cleaver, chief executive of De Beers Group in a statement on Tuesday. “More fully integrating the De Beers Diamond Jewellers brand and store network will enable us to deliver an even more differentiated diamond offering.”

A spokesperson for LVMH was not immediately available for comment.

The announcement comes at a time when diamond suppliers are facing a challenging market, as the price of diamonds falls. De Beers, which supplies 40 percent of the market, reported that the average price per carat in 2016 was $187, down from $207 in 2015.

The strength of the dollar, the tightening of anti-corruption laws in China (which has affected gifting), and the general slowdown of the hard-luxury market, diamonds in particular, has hit luxury jewellers hard at a time of volatility in the wider luxury market.

Uso de cookies

Este sitio web utiliza cookies para que usted tenga la mejor experiencia de usuario. Si continúa navegando está dando su consentimiento para la aceptación de las mencionadas cookies y la aceptación de nuestra política de cookies, pinche el enlace para mayor información. ACEPTAR

Aviso de cookies

Send this to a friend