De Beers hasn’t exactly been sparkling lately. The diamond industry’s most famous name has grappled with weak demand for the precious stone since a peak during the COVID-19 pandemic, alongside the growing popularity of lower-priced lab-grown diamonds.
While De Beers’ sales have suffered, the company—which once held a near monopoly of the global diamond trade—has also had to deal with the recent announcement by parent company Anglo American that it planned to sell it or spin it off.
