Are diamonds dead in China? De Beers doesn’t think so ...Middle East

What Happened: With marriage rates hitting a record low and young consumers increasingly committing to a solo lifestyle, are diamonds still a girl’s (and guy’s) best friend in China? Although consumer demand for diamond jewelry has softened in light of the pandemic, De Beers Group is optimistic about the category’s potential growth in the country. Up to 200 million Chinese consumers are expected to enter the middle class by 2030, giving them more disposable income to purchase natural diamonds, which rank among the top three most-desired luxury purchase categories, states the diamond company. As Al Cook, CEO, De Beers Group, said in a statement: “From being a relatively small player on the

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