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De Beers Group sells approximately 35% of the world's rough diamond production through its global sightholder and auction sales businesses. source : https://en

• ed25519FUUU 6y ago
  > From its inception in 1888 until the start of the 21st century, De Beers controlled 80% to 85% of rough diamond distribution and was accused of being a monopoly.[5] Competition has since dismantled the complete monopoly, though the De Beers Group still sells approximately 35% Interesting. I wonder if synthetic diamonds played a role in that downward trajectory.
  • teruakohatu 6y ago
    The competition is Canadian and Russian diamonds but De Beers have waged a publicity campaign against synthetics for years, even recently launching their own line of synthetic diamonds but branding it as an inferior product.
    • kbutler 6y ago
      Just this week I heard an established jewelry store advertising synthetic diamonds. I've understood that historically de Beers would cut off jewelry stores from the supply of natural diamonds if they sold lab-grown, but maybe their power has declined enough for the stores to jump ship. The ad noted "bigger" than natural, "created in a tiny star" (probably CVD https://www.brilliantearth.com/lab-created-diamonds/ https://www.brilliantearth.com/lab-created-diamonds/), and something about "created since you started dating..." I expected them to cite the improved clarity vs natural, but the ad didn't mention it.
    • swyx 6y ago
      > branding it as an inferior product. wow. that is genius. you don't have to be a fan of what they do to recognize that they have incredible marketing savvy.