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Article: The New De Beers Meets an Old Dilemma.
- Article from:
- Jewelers Circular Keystone
- Article date:
- July 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Reed Business Information, Inc. (US). 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 new De Beers had hoped its stockpiling days were over.
But if the U.S. economy continues to sputter, the company may not have a choice.
Nicky Oppenheimer once admitted that the industry doesn't always need De Beers. "People often say, 'We don't need De Beers,' and it's true, in good times you don't," he told JCK in 1998. "It's in bad times that people recognize the benefit of the CSO."
Today the CSO (Central Selling Organisation) is just a memory; but for an industry that again faces rocky economic terrain, it's a vivid memory. Weak Christmas 2000 sales caused the pipeline to bulge with low-end "American goods." (Other items, like ...