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De Beers Buys Out Retail Partner LVMH

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De Beers Diamond Jewellers has 32 stores.

De Beers Group has bought out LVMH’s 50 percent share in De Beers Diamond Jewellers to take full ownership of the company, which operates 32 stores in 17 markets worldwide.

Financial terms of the deal were not disclosed.

Bruce Cleaver, CEO of De Beers Group, said: “With its strong brand awareness, consummate diamond expertise and a commitment to responsibility, De Beers Diamond Jewellers is a trusted and industry-leading diamond jeweller. More fully integrating the De Beers Diamond Jewellers brand and store network will enable us to deliver an even more differentiated diamond offering, alongside our fast-growing diamond brand, Forevermark.”

De Beers Diamond Jewellers’ network includes a growing business in greater China and with Chinese clients worldwide, an established presence in London and Paris, and a new flagship location in New York City.

Francois Delage, CEO of De Beers Diamond Jewellers, said: “De Beers Diamond Jewellers is firmly established as one of the world’s leading diamond jewelry retailers. We already have a shared heritage and strong brand link with De Beers Group. By being fully part of the Group, we will benefit even more from the unique diamond culture, established since 1888. We will continue to offer passionate and peerless diamond expertise to our discerning clients around the world.”

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