Chinese consumers’ growing appetite for gems propelled diamond jewellery sales to a global record of $79bn last year, according to a new report from De Beers.
De Beers said sales grew 3 per cent from 2012 thanks to strong US and Chinese demand. Sales of polished diamonds also grew 3 per cent to $25bn, boosted by a 14 per cent jump in China and 7 per cent increase in the US.
“The biggest engine for growth is greater China,” said Philippe Mellier, De Beers chief executive. “The biggest source of new purchases are married Chinese women . . . [who] are very important in the Chinese way of life and they tend to treat themselves well with diamonds.”
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