Richemont and Signet Are Interested in Buying De Beers: Report

Richemont may be ready to welcome a dazzling new brand into its fold.

The luxury conglomerate is reportedly considering joining a bid to buy De Beers, according to Bloomberg. Richemont, alongside U.S. diamond retailer Signet Jewelers, would be uniting with the Global Diamond Consortium (GDC), a group led by former De Beers CEO Gareth Penny, to purchase the diamond miner.

The GDC is in the lead for the purchase of De Beers from owner Anglo American Plc., the publication reported. The group includes Namibia and Angola—two massive diamond producers—and has reportedly had discussions with Botswana to up its stake in De Beers to somewhere near 25 percent. As for what Richemont’s and Signet’s stakes in a potential purchase would be, that has yet to be revealed.

Signet declined to comment on the report. Richemont did not immediately respond to Robb Report’s request for comment. GDC declined to comment to Bloomberg.

Should Richemont choose to join the bid, it would show the conglomerate’s allegiance to natural diamonds, an industry that has suffered under the weight of the lab-grown movement. De Beers officially shut down its man-made diamond business last year in favor of natural gems; the company was reportedly considering a sale of its assets or inventory at the time of the announcement.

Richemont’s potential next move would also come at a time when its jewelry business is booming. The conglomerate has seen a particularly high demand for sparkling pieces as of late, with the sector paving the way for a 20 percent increase in the company’s Q1 sales this year compared to 2025. Jewelry in particular notched a 24 percent boost and accounts for a whopping 71 percent of sales, thanks to the creations of Van Cleef & Arpels, Buccellati, Cartier, and more brands under the Richemont umbrella. And from the year starting in May 2025, those jewelry maisons earned $19.2 billion in sales, out of the luxury behemoth’s total $26 billion during the time period.

Only time will tell if the group comes together to actually purchase De Beers. Stay tuned for more news in the coming months.