A Diamond is Forever
De Beers specializes in the mining, retailing, trading and industrial manufacturing of diamonds. From its inception in 1888 until the turn of the 21st century, De Beers controlled most of the distribution of rough diamonds.
De Beers introduced the “4C” criteria, the very first diamond grading system, which has since become a reference in the world of jewelry.
The jewelry store De Beers Diamond Jewelers was founded in 2001 with the first in London and now has more than 30 stores worldwide
Cecil Rhodes, founder of the British South African Company, began renting water pumps to miners during the diamond boom that began in 1869, when a diamond (83.5 carats) called the “South African Star” was discovered in Hopetown.
He invested the profits from this operation in buying out concessions from small miners, with his operations rapidly expanding into a separate mining company. He quickly obtains financing from the Rothschild family, which will finance the expansion of his business.
Due to its monopoly position, the company manages to keep diamond prices as high as possible.
One of the most effective marketing strategies was the marketing of diamonds as a symbol of love and commitment by coining the famous advertising slogan “A Diamond is Forever” in 1947.
De Beers runs an event called “Sights” 10 times a year, as during the sale, customers can inspect the rough diamonds on offer before deciding to buy. These “sights” make it possible to estimate fluctuations in diamond prices. This market is only open to accredited buyers.