The Elite De Beers Diamond Buyers Club May Get Even Smaller

(bloomberg.com) - De Beers is considering key changes to the way it sells diamonds as frustration mounts among its customers—a supposedly elite group that are now struggling to turn a profit. De Beers has signaled to its handpicked buyers that it may significantly reduce their number, possibly by the most since its monopoly ended at the beginning of the century, according to people familiar with the discussions. It’s also reconsidering the way that diamonds are allocated among the group, said the people, who asked not to be identified because the conversations were private.