2004

De Beers Still May Not Be Able To Come to the U.S.

Nov. 2004

Go to 55th Street and Fifth Avenue, and you’ll see firm evidence that De Beers is planning to open a retail store there. The De Beers name is plastered all over, along with an accompanying “D” logo.

But what you still won’t see in New York — even after they settled their $10 million anti-trust suit — is a De Beers executive.

There were none at the World Diamond Council meeting. The DTC didn’t sponsor any events, and neither did its U.S. affiliate the Diamond Promotion Service or even any of the De Beers brokers.

A report in South Africa’s Business Day said De Beers top executives are still being advised not to set foot in the United States, despite the anti-trust case it settled early this year.

Chief executive Gary Ralfe said that with all the civil suits against the company, executives are “being advised not to go yet.”

De Beers has already said that they have no plans to change how they do business in the U.S. even with the settlement of the lawsuit.

De Beers spokes person Joan Parker told the DRB that they intend to open the New York store by June 2005.