Hopes were pinned on strategies such as renewed marketing efforts, the scrapping of man-made diamonds in its offering, and campaigns aimed at engaging younger consumers.
Among these moves, targeting “Zillennials”— the microgeneration born between 1993 and 1998 —was seen as key. This group has driven a surge in demand for affordable lab-grown diamonds (LGDs), particularly in North America.
On Monday, the company announced a price reduction of 10% to 15% for most of its goods, according to sources cited by Bloomberg News. This would mark the first significant price cut of the year and one of the most substantial in recent history.
Attempts to obtain a comment from De Beers had been unsuccessful at the time this story was posted.
Typically secretive about its pricing, De Beers reserves large-scale reductions as a last resort. The recent move underscores the market struggling to maintain profitability…
