Forming the future

(debeersgroup.com) - The very nature of innovation is that it involves a step into the unknown. When De Beers Auction Sales first pioneered online rough diamond auctions, we didn’t know whether they would prove to be popular in the long term. In fact, there were many who suggested that the nature of the industry meant auction sales wouldn’t work for rough diamonds. Nearly a decade on and the rough sales landscape has significantly changed with nearly all producers using auctions as a channel to sell their rough diamonds. But with every success, there comes new learning. We don’t always get everything right first time and that’s why it’s so important for us to keep testing our assumptions when launching new initiatives, rapidly accumulating and applying what we learn to try and deliver the most compelling offering to customers over time. Our recently-launched fixed price forward contract programme is a great example of this.