1990s: Wholesale Branded Diamonds for U.S. Customers
December 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 … Canada’s 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 it’s 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 don’t 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.
