[miningmx.com] – SALES of polished diamonds in China will rise by 3% to 5% this year which is only a fraction of the 29% growth in the jewell in 2011, said Reuters citing comments by Stephen Lussier, head of De Beers’ Forevermark.
“The bridal business and the gifting business, particularly among younger consumers in China, is really today the main growth area,” said Lussier. But he played down the prospect of a large effect from China’s economic slowdown on De Beers. “There is some impact from the economy, but it’s not dramatic,” he said.
With consumers aged 18-29 the main drivers of the bridal and gifting sectors, Chinese sales of the Forevermark diamond brand were on track to exceed last year’s record of about $280m in retail sales, Lussier told Reuters.
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