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1999: The Year in Which ... - Dec 1999
It was the year in which
De Beers is expected to post record sales of $5
billion
but the market is still hungry for certain types of goods.
It was the year in which
De Beers introduced its "Millennium"
Brand to the U.S. .
but very few consumers ask for a branded diamond.
It was the year in which
Canadas Ekati mine began selling its
diamonds, mostly outside the CSO
but rough goods remained firm.
It was the year in which
A lot of jewelry Internet sites debuted
but
most consumers bought at traditional stores.
It was the year in which
De Beers announced a price adjustment
but
its still not clear what is up and what is down.
It was the year in which
De Beers said it would sell half its inventory
but they dont seem to be willing to flood the market.
It was the year in which
the industry worried about a back-lash to its
Pegasus stones
but not many consumers heard about it.
It was the year in which
some auction houses went on-line
but most
sales stayed on the sales floor.
It was the year in which
Japan and the Far east began to recover
but
not enough to write home about.
It was the year in which
People stopped complaining about De Beers squeezing
their profits
but diamond margins are still below any other industry.
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