De Beers unveils ‘Origins’ strategy to enhance and revitalise natural diamonds

De Beers Group has unveiled its new five-year Origins strategy to enhance value across its business from mining through to retail.

The business will be streamlined and investments will be focused on high return projects in core upstream assets, midstream technologies, natural diamond retail and synthetic diamond technology solutions.

As the natural diamond market continues to recover, De Beers will harness its portfolio of mining assets, its retail brands and its track record of generating desire for diamonds.

According to De Beers, this five-year strategy will boost natural diamond marketing, streamline the business and focus on high return investments from exploration to retail.

The Origins strategy includes business streamlining, focused upstream, integrate midstream, reset downstream and pivot synthetics.

Al Cook, chief executive officer of De Beers Group, said: “We are reinventing every part of De Beers to grow value. Through delivery of our Origins strategy, De Beers will be streamlined, focused, and a leader in diamond technology, provenance and luxury retail. We will recreate the magic of natural diamonds for modern consumers.

“The outlook for natural diamonds is compelling. Global supply is declining with no new mines discovered in the past decade. Consumers in key regions are becoming more affluent and are increasingly differentiating between natural diamonds and lab-grown diamonds.”

Cook added: “Every part of De Beers must add value in itself. But it is our integration from the upstream to the downstream, from the south of Africa to the north of Canada, across our portfolio of technologies, that makes De Beers unique. And it is through that integration that we will create value as brilliant as our diamonds.”