Swiss luxurious items staff Richemont, managed by way of South African billionaire Johann Rupert, is reportedly in talks to sign up for a consortium looking for to obtain diamond mining massive De Beers in a deal valued at roughly $1 billion.
The proposed funding would give Richemont, which owns luxurious jewelry manufacturers Cartier and Van Cleef & Arpels, larger regulate over its diamond provide chain because the business faces declining costs and rising pageant from laboratory-grown diamonds.
In keeping with Reuters on Thursday, October 15, 2026, Richemont is thinking about becoming a member of the International Diamond Consortium, led by way of former De Beers Leader Govt Officer Gareth Penny, which is bidding for Anglo American’s 85% stake within the diamond manufacturer.
African governments pursue De Beers stakes
Richemont, valued at roughly $113 billion, had round €9 billion ($10.09 billion) in internet money on the finish of June, giving it considerable monetary capability to take part within the acquisition.
Then again, negotiations stay ongoing, without a ensure that Richemont will ultimately sign up for the consortium.
- The proposed acquisition has attracted a number of world buyers, together with Belgium-based diamond producer Pluczenik, which has showed its passion in obtaining a stake.
- US jewelry store Signet, which owns KAY Jewelers, Zales and Jared, could also be reportedly in discussions to sign up for the consortium.
- Then again, the transaction stays topic to Botswana’s executive, which owns 15% of De Beers and holds a proper of first refusal over the proposed sale.
De Beers has struggled financially amid declining herbal diamond costs and higher pageant from inexpensive artificial choices.
The corporate has recorded losses since 2023, reporting an underlying income earlier than passion and taxes (EBIT) lack of $787 million in 2025 on income of just about $3.5 billion.
Anglo American first introduced plans to divest its De Beers stake in 2024 as a part of a broader restructuring programme.
In spite of the monetary demanding situations, Richemont’s attainable involvement displays its persisted dedication to herbal diamonds, specifically inside the top class jewelry marketplace.
Richemont’s monetary place helps bid
The proposed transaction follows months of negotiations involving African governments and world buyers looking for possession of De Beers, which operates diamond mining and exploration companies in Botswana, Namibia, Angola, South Africa and Canada.
In a similar way, Angola submitted a bid for a minority stake in De Beers, proposing an possession association involving Botswana, Namibia, South Africa and Angola.