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Article: De Beers is it.(diamond company positions to remain on top of a troubled market)
- Article from:
- The Economist (US)
- Article date:
- December 19, 1998
CopyrightCOPYRIGHT 1998 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The diamond cartel has come under attack once again. This time, De Beers has a novel defence
"A DIAMOND is forever," runs the old advertising slogan that has convinced women in love to hanker after gemstones. "So are the payments," is the common rejoinder from the men suckered into buying a bauble. However, the De Beers diamond cartel has never seemed likely to be so enduring.
Forecasting the demise of De Beers is an old game. Some new threat to the cartel comes along every few years. Usually, it is supplies from a rogue producer that may circumvent the Central Selling Organisation (CSO), the marketing arm of De Beers. Pundits then forecast that the ...