The De Beers Group has changed the distribution system for rough diamonds, which is carried out by its Global Sightholder Sales Unit (GSS) for the next contract period from March 2015 to March 2018.
The company's message to Rough & Polished via e-mail says that the distribution model now uses a new method of determining the GSS customer base according to a new simplified process of qualifying customers based on their compliance with De Beers requirements and their demand for rough diamonds. In addition, the company will change its sales approach to more flexible, so that non-sightholder firms can also purchase rough diamonds through GSS.
"The sightholder system has been the foundation of our sales model for many decades and will remain so in the new contract period," said De Beers CEO Philippe Mellier. "However, the changes that we are going to introduce give more flexibility when acquiring the De Beers product. They will allow companies that demonstrate high demand for our rough diamonds to buy it on a fixed-term contract as sightholders; we also offer diamond companies that are not sightholders to demonstrate their demand for De Beers diamonds.