What is so special about De Beers Jewelry? “6 Facts You Must Know” will be covered in this article.
De Beers is synonymous with luxury and quality In the diamond industry.
De Beers is one of the oldest and most luxurious brands in the world.
The diamond’s mystique is grounded in a stockpile of rough diamond supply used to control diamond prices. In 1888 Cecil John Rhodes founded De Beers Consolidated Mines Ltd., headquartered in Johannesburg, In 1888 he established his first diamond mine near Kimberley after signing a five-year mining lease.
If you are someone who loves the luxurious De Beers brand, then this blog post is for you! In this post, we will be discussing what makes the De Beers brand so special.
De Beers is one of the oldest and most luxurious brands in the world.
Many people associate the brand with high quality, elegance, and exclusivity.
De Beers has a long history of producing some of the finest diamonds in the world, and their jewelry is known for its exquisite craftsmanship.
But let’s start from the beginning: In 1888, Cecil John Rhodes founded De Beers Consolidated Mines Ltd. intending to control the entire diamond supply chain.
And it worked – for over a century, De Beers has been able to keep prices high and maintain its status as one of the most exclusive brands in the world.
Whether you’re looking for a diamond ring, necklace, or earrings, De Beers would be your choice. So what’s behind this luxury brand’s success? Let’s take a closer look.
What is De Beers famous for?
De Beers is famous because they are diamond specialists.
They are committed to respecting the diamond’s identity, preserving its mystique, and enhancing its beauty.
De Beers also has a diamond-protection policy that includes revealing details about diamond mining activities only if asked to do so by diamond-producing countries’ governments.
Why does De Beers control the diamond market?
Diamonds are a world-renowned gift of love and signify enduring beauty. The diamond market is worth $27 billion – but it’s also leading to diamond-funded violence in African countries such as Sierra Leone and Angola.
The diamond trade has been built largely on monopolies, though De Beers was not the first company to seek control of diamond supply through large investments.
As early as 1870, an American businessman named John D. Rockefeller had gotten involved with railroad construction in southern Africa–a time when the discovery of diamonds had already fueled violence between Europeans vying for mining concessions.
Enlisting British capital to build rails, Rockefeller promptly invested in new mines himself, establishing Standard Oil’s diamond monopoly long before Middle Eastern countries gained their own diamond sources.
De Beers diamond monopoly was built on a diamond fund started in 1880 that bought up diamond mines to ensure supply, then allowed them to gradually be opened up to private buyers.
The diamond cartel lasted for decades after World War II through deals with the South African government and its police force, which controlled mine production during apartheid.
Is De Beers A Monopoly?
No… From its inception in 1888, De Beers controlled approximately 80% to 85% of the rough diamond distribution throughout most of the 20th century, and it was dubbed a monopoly.
Then De Beers’ diamond monopoly has been reduced to less than 35% of the diamond market. It is still considered a major diamond producer, but because it’s no longer a monopoly it has to compete with other diamond producers like Rio Tinto, Alrosa, and Dominion Diamond Corporation.
The two companies that were responsible for taking away De Beers’ diamond monopoly are Harry Oppenheimer (De Beers founder) and Ernest Oppenheimer (Harry’s son).
Harry founded the diamond company diamond Consolidated Mines in 1917 which became known as Anglo American holdings in 1929.
Ernest founded the diamond company Anglo-American Diamond Company which was renamed simply De Beers Consolidated Mines Limited in 1928.
How did De Beers respond to the introduction of lab-grown diamonds to the market?
Diamonds are a girl’s best friend, or so the song goes.
They’re also one of the most expensive and sought-after stones in the world. However, diamond prices have been falling for years as diamond mines run out of diamonds to mine and diamond manufacturers struggle with increased competition from synthetic diamond manufacturers.
The introduction of lab-grown diamonds has only exacerbated this problem for diamond producers like De Beers who have struggled to find a way to respond – until now.
In June 2017, they announced that they would start selling a man-made diamond under their own name: Lightbox Jewelry. Lab-grown diamonds mimic natural ones down to their molecular level, but at about half the price—a breakthrough that could transform how people view jewelry
What Are Conflict-Free Diamonds?
Conflict-free diamonds are diamonds that have not been used to finance civil wars. These diamonds are obtained through ethical means, meaning that the miners and diamond cutters are treated fairly, the environment is protected, and there are no human rights abuses.
Are All De Beers Diamonds conflict-free?
De Beers has been very adamant about the fact that all of the diamonds it sells are conflict-free.
It has implemented several measures to ensure that this is the case, such as purchasing diamonds in compliance with national law and the Kimberley Process Certification Scheme.
However, questions have been raised about whether or not De Beers can guarantee that all of its diamonds are conflict-free.
The diamond industry was able to rebuild its reputation after the diamond trade became more transparent in 2000 with the implementation of the Kimberley Process Certification Scheme, which made it illegal for diamond traders to sell so-called conflict diamonds.
Since then, De Beers has tried very hard to convince diamond buyers that they are 100% conflict-free.
Final Thoughts On… What is so special about De Beers Jewelry? “6 Facts You Must Know”
De Beers is synonymous with luxury and quality in the diamond industry.
The companies maintain a stockpile of rough diamond supply used to control prices, as well as their introduction of lab-grown diamonds.
They are one of the oldest and most luxurious brands on earth, founded by Cecil John Rhodes back in 1888 after he signed a five-year lease for his first mining site near Kimberley.
Today they mine more than 40% of all gem diamonds found around the world and sell them at market price or higher through its network of international sight holders who buy up stones from mines that contain less than 10 carats each.
Diamonds are mined all over the world but they are sold through De Beers’ Central Selling Organization (CSO) which controls about 80% of global production along with distribution channels to retail outlets worldwide.
This means that even if someone buys their diamonds elsewhere—they will still end up at one of these distributors or retailers controlled by De Beer’s CSO network.
After reading What is so special about De Beers Jewelry? “6 Facts You Must Know” please Read my article about the 30 Iconic Luxury Jewelry Designers “Explained” To find out the many iconic jewelry designers that are the most popular today. “Some May Surprise You!”
Frequently Asked Questions
What is the slogan for De Beers?
“A Diamond is Forever”… In 1999, the slogan ‘A Diamond is Forever’ was named as ‘The Slogan of the Century’ by Advertising Age.
How much is Debeers worth?
Diamond mining firm De Beers’ revenues will be about 3.4 billion dollars in 2020.
How Where Are The mines That De Beers owns?
The company operates in 35 countries and mines minerals in Botswana, Namibia, South Africa, Canada, and Australia.