Industry News by Nemesis

De Beers Opens Stores in Moscow and Riyadh

April 11, 2018

De Beers has launched three new retail locations in Russia and Saudi Arabia for its De Beers Diamond Jewellers chain. 

The company has opened one chain in Riyadh, its first Saudi Arabia location, at the Centria Mall, in partnership with Saudi Jawahir Trading Company. 

The jeweler has also inaugurated two new stores on Petrovka Street and in the Vremena Goda mall in Moscow, for which it has partnered with Diamond Jewellery Group. 

“The new stores reflect the heritage of De Beers,” the company said. “Every aspect of the stores has been carefully considered and tailored to guide the jewelry devotee around unique high-jewelry pieces, iconic collections, including the Talisman and the Enchanted Lotus, and wondrous bridal diamond creations.” 

The addition of the three new stores brings the chain’s total to 32. The jeweler also has stores in the US, Canada, London, Paris and the Middle East, with nearly half its locations spread throughout Asia. 

De Beers launched its retail chain in 2001 in partnership with LVMH. In 2017, the miner bought out the 50% stake owned by the luxury retailer.

Image: De Beers Diamond Jewellers’ store in Moscow

 

Source: Rapaport

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