This month – May 2024 – the question of whether another larger entity will soon take over the South African owner of De Beers, Anglo-American, was on the minds of many in our small industry. There are multiple speculations about what entity that may be, but one thing is quite evident to all analysts and reporters who have written articles on the topic: De Beers will be spun off once Anglo-American changes hands.
Time will tell what the consequences of De Beers’ changing owners will mean and what those owners will do with the company’s current business model. It will all depend on the position of that buyer in the diamond supply chain. Please take a few months this weekend to read up on this topic.
At the same time, not only our industry is experiencing a high level of uncertainty. In his latest newsletter, the veteran German luxury industry consultant and commentator Frank Mülller writes: The luxury industry is in a cautious mode. First quarter results were mixed due to ongoing nervous political and economic circumstances around the world resulting in more subdued consumer moods. It is, therefore, important for the industry to show resilience in being proactive, creative, and optimistic about its future. Trade fairs, shows, and conferences offer many opportunities to be inspired, network, and do business.
Frank is right, of course. The first upcoming conference is the Kimberley Process Intersessional, which will take place in Dubai, the United Arab Emirates (UAE), scheduled from 13-17 May 2024 at SO/ Uptown Dubai.