Sharp Decline In De Beers Sales At 5th Sight – Just $390M
De Beers reported that its fifth sales cycle of 2019 came in at just $390 million.
Bruce Cleaver, CEO, De Beers Group, said: "While overall retail sentiment for diamond jewelry in the US remains solid, a more challenging environment in China and higher than normal polished diamond inventories in the midstream resulted in a cautious approach from rough diamond buyers during the fifth cycle of 2019."
By comparison, De Beers' fifth Sight of 2018 was worth $581 million. Meanwhile, last month's Sight sales were $416 million.