De Beers Opens Stores in Moscow and Riyadh

RAPAPORT...  De Beers has launchedthree new retail locations in Russia and Saudi Arabia for its De Beers DiamondJewellers chain. The company has openedone chain in Riyadh, its first Saudi Arabia location, at the Centria Mall, inpartnership with Saudi Jawahir Trading Company. The jeweler has alsoinaugurated two new stores on Petrovka Street and in the Vremena Goda mall inMoscow, for which it has partnered with Diamond Jewellery Group. "The new storesreflect the heritage of De Beers," the company said. "Every aspect of thestores has been carefully considered and tailored to guide the jewelry devoteearound unique high-jewelry pieces, iconic collections, including the Talismanand the Enchanted Lotus, and wondrous bridal diamond creations." The addition of thethree new stores brings the chain's total to 32. The jeweler also has stores inthe US, Canada, London, Paris and the Middle East, with nearly half itslocations spread throughout Asia. De Beers launched itsretail chain in 2001 in partnership with LVMH. In 2017, the miner bought outthe 50% stake owned by the luxury retailer.Image: De Beers Diamond Jewellers' store in Moscow