De Beers is set to further cut down the number of its sightholders in a strategic move to foster partnerships that “create value,” according to IDEX Online.
Speaking at the Facets 2024 conference in Antwerp on November 26, CEO Al Cook emphasized that the selection criteria for sightholders will prioritize quality over quantity.
In October, De Beers notified its 69 current sightholders that the upcoming diamond supply agreement, effective January 2026, will be based on an objective selection and allocation process. At the time, the company declined to comment on reports regarding its intention to reduce the number of sightholders.
The sightholder count reached a peak of approximately 350 companies in the 1970s. By 2001, that number had been cut in half and has since been reduced further through subsequent adjustments to De Beers’ client structure. The most recent reduction occurred in January 2021, alongside the introduction of a new system categorizing buyers into three groups: dealers, manufacturers, and integrated retailers.
