DeBeers and LVMH are planning on opening their first retail store in New York by this coming June. Another Store is planned for Los Angeles in October as reported by South Africa’s Business Day. This comes in spite of lagging sales in both their London and Japan stores.
De Beers and LVMH joined to form De Beers LV. The company has recently seen the departure of its CEO, its top designer, and icon and supermodel Iman. Under a 10-year plan, approved by De Beers and LVMH, De Beers LV would strive to emerge as the leader in the top-end fine jewelry and diamonds.
These retail stores are in line with DeBeers Supplier of Choice program that was implemented two years ago amid much criticism from siteholders and is designed to install vertical integration from manufacturing to retail end-consumer sales within each company. Siteholders are now required to market and advertise effectively in order to retain membership status with DeBeers.