De Beers wins a gem of a gamble The diamond giant turned its old business model on its head - and came up sparkling. Edward Simpkins reports

From: The Sunday Telegraph London | Date: August 24, 2003| Author: | Copyright information

The world's biggest diamond dealers are leaving London this weekend with their wallets pounds 500m lighter than when they arrived.

They came last week for one of De Beers' 10 annual sales of rough diamonds and as they head back to Antwerp, Tel Aviv, New York and Mumbai (the centres of the world diamond trade) they will be thinking about how to absorb the pain of the diamond giant's third price hike this year.

In reality, they should not complain. Sales of diamonds for jewellery are stronger than ever and De Beers can claim some of the credit for that.

De Beers' ability to raise its prices - ...

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