De Beers Opens Stores in Moscow and Riyadh

RAPAPORT…  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