Louis Goss is a MarketWatch reporter based in London.
De Beers on Thursday said it has slashed diamond sales in a bid to tackle a glut of gemstones in the market as the firm also vowed to spend an extra $20 million on advertising in a push to build demand ahead of the Christmas holiday season.
The diamond seller sold just $200 million worth of rough diamonds in the eighth sales cycle of the year — an amount 46% lower than in the previous cycle and 62% less than the same period last year. De Beers currently sells 90% of its rough diamonds to a specific cohort of just over 90 bulk purchasers, called Sightholders, and sells the remaining 10% of its stock via online auctions to around 950 accredited buyers, according to the company’s website.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Key Words - MarketWatchThe latest Key Words column from MarketWatch.
Weiterlesen »
Biden Admin Cancels Another $9B in Student Debt, Affecting 125,000 BorrowersSee multiple perspectives from MarketWatch, Washington Examiner, and USA TODAY at AllSides.com.
Weiterlesen »
U.S. dollar is on the cusp of a historic winning streak. But how much longer can the rally last?Joseph Adinolfi is a markets reporter at MarketWatch.
Weiterlesen »
Amazon is shutting down live audio app AmpBill Peters is a Los Angeles-based MarketWatch reporter who covers earnings.
Weiterlesen »
Rice University alum Louis Brus awarded Nobel Prize in chemistryRice University alumnus Louis Brus was awarded the Nobel Prize in Chemistry for the “discovery and development of quantum dots,” nanosized particles with unique properties “that now spread their light from television screens and LED lamps,” according to a Royal Swedish Academy of Sciences announcement.
Weiterlesen »
De Beers reports lower sales as rough diamond availability is reduced to help industry midstream rebance stocksThe value of De Beers' rough diamond sales for the eighth sales cycle of this year decreased to a provisional $200-million, as the diamond miner reduced its rough diamond availability in light of the industry's midstream working to rebalance certain areas of stock accumulation. De Beers had sold $508-million of rough diamonds during the eighth sales cycle of 2022 and $370-million of rough diamonds in the seventh sales cycles of this year.
Weiterlesen »