As part of its expansion plans, De Beers Group Managing Director Gareth Penny has announced that De Beers has plans to open 50 retail locations in key cities across the nation by the end of 2008.
News about the openings slowed down significantly once original reports had revealed that De Beers had plans to open 150 stores in the next 10 years. This announcement upset their retail network who complained of unfair competition.
Currently the mega diamond company has 7 locations in North America including Beverly Hills, Dallas, Houston, LAS Vegas, New York and Washington D.C. The latest opening was the San Francisco location at the end of June.
Cities which could see De Beers setting up shop include Atlanta, Boston, Chicago, Dallas and Philadelphia.Penny has stated that the aggressive expansion of De Beers, which is a joint venture with luxury company LVMH Moet Hennessy Louis Vuitton, would make De Beers “probably in the top five [jewelry] retailers in the world.”
www.debeers.com
Source vialuxe
