Women shopping for rings for themselves spend greater than males
Women shopping for rings for themselves spend greater than males
De Beers sees oversupply of tough diamonds stabilising
Commerce pressure, Hong Kong protests dented China gross sales
LONDON, Oct 28 (Reuters) – Anglo American AAL.L unit De Beers stated its 2019 advertising price range will exceed final 12 months’s determine of $170 million and can give attention to the most important market the USA, the place ladies lavishing diamonds on themselves has boosted gross sales.
Whereas U.S. demand has held agency, the diamond market has weakened elsewhere and commerce tensions and protests in Hong Kong have dented gross sales in China, the second largest diamond market.
However luxurious teams see potential for progress in jewelry demand, as proven by LVMH’s LVMH.PA almost $14.5 billion supply, made public on Monday, to purchase Tiffany & Co TIF.N.
Esther Oberbeck, group head of technique at De Beers, the world’s greatest diamond producer by worth, stated in an…