De Beers upbeat on biz growth in China

Seeing future potential growth, diamond company De Beers Group will continue to offer high-quality products to the Chinese market, encouraging more consumers to shop in China, said a senior executive.

Sandrine Conseiller, CEO of De Beers Brands, said: "China's diamond consumption market is stable and I see a lot of growth potential in the future. There is a long history between China and diamonds, a history that is thousands of years old. In addition, according to the survey we have been doing over the past 15 years, where we give consumers the choice between luxury, travel, electronics and diamonds, most of them still pick diamonds."

"For the Chinese consumer, there are a lot of new occasions to buy diamonds. Women buying for themselves is now the driving force, as they buy diamonds to mark important milestones. It could be a baby born, it could be getting a promotion, it could be just a moment they want to remember. This desire gives us a great opportunity," she said.

Conseiller added that in China, De Beers Group has also started to see more and more men wearing diamonds, and most of the collection can be considered unisex. "It started with brides and weddings, and now it's expanding much more into self-purchase for women. But I believe the market for men wearing diamonds is growing, especially among the younger generation."

Data from the Gems and Jewelry Trade Association showed that in 2025, China's natural diamond consumption market totaled 48 billion yuan ($7.15 billion), up 11.6 percent on a year-on-year basis. Under Shanghai Diamond Exchange's general trade items, China's import of natural diamonds in 2025 reached $656 million, 65 percent higher than the previous year.

Zhang Chenkai, managing director of Shanghai-based China Insights Consultancy CIC, said, "Although lab-grown diamonds with lower prices take up a certain market share, the role of natural diamonds is still irresistible."

De Beers Group is among the first group of multinational corporations to join China's "Shopping in China" initiative — a campaign launched by the Ministry of Commerce in April 2025 to attract consumers and boost consumption in China.

Conseiller said: "We are among the first batch of companies to join the initiative as we believe it is aligned with the value of natural diamonds. The initiative is opening a lot of opportunities to present consumers with products that are really valuable to them. We just had a discussion with the Shanghai Municipal Commission of Commerce, and we will continue to be part of it this year and next year."

On July 29, De Beers Group launched Desert diamonds in China, inspired by the colors and landscapes of the desert where some diamonds come from.

Currently, the group is selling Desert diamonds in 100 retail stores in China, and it plans to broaden the range to more retail stores in the future.

Zhang from CIC said that the future of diamond consumption lies in breaking the aesthetic stereotype of pure white diamonds, and combining natural gemstones with color schemes, new Chinese elements, or inlay with gold and silver jewelry, emphasizing personalization and uniqueness.

"In addition, cultural trends are driving young men to increase their acceptance of accessories such as rings, earrings and necklaces, making them become an incremental group for diamond consumption with room for growth," he said.

zhengyiran@chinadaily.com.cn