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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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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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