De Beers Threatens Top Retailer: Stop Offering Foundry Diamonds…Or

One of the top 5 U.S. retailers of De Beers’ Forevermark diamonds was happily selling many different jewelry brands as well as diamonds by Diamond Foundry. In fact, the retailer particularly liked the customers asking for diamonds from Diamond Foundry.

Now an executive from De Beers personally called the retailer to make the threat — stop selling or lose access not only to the to the Forevermark program but to any De Beers’ “sightholder” across the industry.

What is Forevermark? It is a trademark created by De Beers for the purpose of making diamond prices less transparent. The diamonds are just the same as any certified diamond; there is no difference on the product. But Forevermark diamonds are not listed anywhere online so consumers cannot compare prices and retailers can make up their own prices for higher profit.

(The trademark was presumably created in part because the name De Beers rings poorly with consumers worldwide, being associated with everything from a conviction of monopoly abuse to apartheid and environmental destruction. It has not stopped either — just this year De Beers killed 18,405 fish to access diamonds below a lake.)

Buyers beware of Forevermark and a bullying diamond miner!

At Diamond Foundry, we are committed to operating a transparent business. (And that turns out to be revolutionary in the diamond industry…!)