Connect with us

Headlines

Trump Presidency Likely to Boost Diamond Sales, De Beers CEO Says

mm

Published

on

The effect is “likely to be positive.”

De Beers CEO Bruce Cleaver told Bloomberg that Donald Trump’s presidency could be good news for diamond sales.

Cleaver said the effect is “likely to be positive, certainly in the short-term.” The CEO expects lower taxes and more jobs, all of which “translates into more disposable income and translates into more diamond purchases.”

Sales for De Beers are likely to rise “a little bit” in the upcoming year, according to Cleaver. The current year , on the other hand, is expected to be flat or down slightly, Bloomberg reports.

Going forward, a key dynamic in the diamond business will be the fact that, as of 2018 or 2019, supply won’t expand at a rate to match demand growth, Cleaver told Bloomberg. The CEO “is unaware of any discoveries that would change a flat supply curve,” according to the news organization.

Read more at Bloomberg.

Advertisement

Advertisement

SPONSORED VIDEO

Retirement, Anniversary or Going Out of Business Sale? Let Wilkerson Handle the Details

When it’s time to run a sale, whether it’s a retirement, going-out-of-business, anniversary or “we’ve got too much merchandise” sale, let Wilkerson handle the details. The Diamond Galleria did just that when they selected Wilkerson to run its liquidation sale. According to Sharon, their CPA, it was the right choice. “We could have done a going-out-of-business sale ourselves and done 30 to 40 percent of what we actually sold with Wilkerson involved,” she says. Seeing the strategies that Wilkerson puts in place for every sale was something that convinced her they had made the right move. “I would highly recommend Wilkerson to anyone considering this type of sale.”

Promoted Headlines

Most Popular