There is great news for De Beers, as they have begun to rebuild after the recession with successful results across retail sale profits. WWD reported “in the six months to June 30, De Beers profits rose to $348 million, compared with a $6 million loss in the corresponding period last year.” During the GFC De Beers went to extremes of cutting 25% of their staff- we want to know if they have reintroduced these cost cutting measures to achieve such results.
What is also interesting to note, but what is not widely known, is that De Beers has a joint venture for its retail arm with LVMH Moët Hennessy Louis Vuitton (it's the company you keep really, that counts…), De Beers Diamond Jewelers. Evidently a “healthy rebound,” has been witnessed and the company has announced plans to unveil a group of new collections later this year.
Image credit: debeerseu.com
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