LONDON — De Beers is hoping to make a comeback in the U.S.

The company has said it wants to jump-start talks with the U.S. Justice Department in a bid to revisit the antitrust issue that is preventing it from trading there.

De Beers, which currently controls about 60 percent of the world’s rough diamond supply, is barred from selling its rocks directly to the U.S. on antitrust grounds. It is also the subject of an ongoing antitrust investigation by the Justice Department over industrial diamonds.

The company is hoping the green light it received from the European Union last year regarding its Supplier of Choice strategy will support its case in the U.S.

“Our successful discussions with the European Commission in relation to Supplier of Choice mark an important milestone relating to that jurisdiction, and we are obviously delighted with the outcome,” a De Beers spokeswoman said in an interview. “We should be received by the U.S. authorities with the same degree of tolerance and understanding.”

As reported, the European Commission gave De Beers the go-ahead to pursue its Supplier of Choice distribution strategy aimed at spurring consumer demand for diamonds and fortifying the relationship between De Beers and its sight holders.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus