“I wanted to build a more sustainable business; one that was less prone to economic cycles” Bruce Cleaver told Rapaport News in an interview.
And this is what we are all trying to do: learn lessons from the past, build a sustainable and now virtuous business model, anticipate major trends and give ourselves the means to resist or adapt to crises and twists of fate!
Over the last three years, we have learned a great deal about our adaptability and just how necessary that has been. That much-used term ‘resilience’ really did make sense. Being well-informed and learning from the experiences of others has also been of considerable help. This is what Avi Krawitz’s article suggests, as he looks at the evolution of De Beers’ strategy during the Bruce Cleaver era. It is up to us to draw inspiration from this in order to evolve our business model in these very volatile times.
In this week’s Lettre, we also take a look at the “long-term” economic partnership between Lucara and HB and the slight slowdown in the rough market, against a backdrop of high inventories, confirmed at De Beers’ latest Sight (and other producers’ auctions.)
With the support of LVMH, Tiffany has just launched its training program in the United States in conjunction with the ME Institute, which was inaugurated in 2014 in Europe. LVMH’s aim is to offer apprenticeship programs in the luxury industry, which focus on creative, craft and client experience roles. Know-how and excellence are at the heart of this program, which is aimed at young people as well as those wishing to retrain. 33 schools have partnered with 42 companies in the group, across 7 countries. 2,000 students have participated since 2014. 75% of them found a position with LVMH or one of its partners. A sustainable and virtuous initiative…
Finally, we give you the opportunity to discover Tiffany and Co.’s Christmas campaign, which revisits its classics and pays homage to Andy Warhol, the latest exceptional pink diamonds sold at auction and the innovative and architectural fine jewelry designs from Hermès and De Beers Jewellers. More works of art, than jewelry!
Happy reading and enjoy your week
Source Rubel & Ménasché
Photo © Courtesy of De Beers Group.