JB Insights
De Beers’ total revenue for 2023 decreases by 35% ; underlying EBITDA plunges by 95%
De Beers reported a steep drop in revenue and profit for the year 2023, as the global diamond industry faced a severe downturn due to the challenging macro-economic conditions, limited consumer demand growth and a cautious retail scenario. De Beers’ total revenue decreased by 35% to $4.3 billion, compared to $6.6 billion in 2022. The average realised price of its rough diamonds was $147 per carat, a 25% decrease from $197 per carat in 2022.
The company attributed the lower prices to a larger proportion of lower value rough diamonds being sold, as well as a 6% decrease in the average rough price index, which reflects the market conditions and the product mix.
The company’s underlying EBITDA (earnings before interest, taxes, depreciation and amortisation) plunged by 95% to $72 million, from $1,417 million in 2022. The company said the lower sales volumes and prices negatively impacted its margins in the trading business.
De Beers also recognised an impairment of $1.6 billion to the carrying value of its assets, reflecting the near term adverse macro-economic outlook and industry-specific challenges, such as the oversupply of polished diamonds, the reduced availability of credit, and the consumer preference shift to lab-grown diamonds. De Beers also reported a stable sales performance for its retail business, De Beers Jewellers, despite the global macro-economic headwinds and the challenging Chinese sector. The miner said the long-term outlook remains favourable, driven by the ongoing
JB Insights
Jewellery-Inspired Eyewear Emerges As Fashion’s Latest Luxury Statement
Crystal embellishments, sculptural silhouettes and gemstone-inspired details are redefining luxury eyewear as collectible fashion accessories.
Jewellery-inspired eyewear is emerging as one of fashion’s biggest trends, with luxury sunglasses becoming statement accessories that go far beyond sun protection. Designed with crystal embellishments, sculptural silhouettes and jewellery-inspired detailing, these pieces are transforming everyday looks into standout style statements.
From weddings and brunches to holidays, race days and special occasions, statement eyewear is becoming an essential fashion investment. More than just accessories, these designs are meant to spark conversations, complement personal style and elevate any outfit.


Among the standout names driving this trend is Gentle Monster, whose Bijou De 02 from its 2025 Jewelry Collection features an oval silver-metal frame inspired by precious jewellery. The collection reimagines eyewear as wearable jewellery with intricate structural detailing, making each piece both a fashion accessory and a design object.

Swarovski continues to elevate crystal-studded eyewear with its Mask Shape SK7024, inspired by the brand’s Hyperbola jewellery family. The wraparound design incorporates flowing silver-tone curves adorned with round- and square-cut crystals, reflecting Swarovski’s signature approach to crystal craftsmanship.

Indian designer Bhavya Ramesh brings handcrafted artistry into eyewear with the Hysteria Sunglasses, featuring sterling silver, tribal-inspired metalwork, brass ghungroos and intricate handcrafted detailing by Jaipur artisans. The design celebrates India’s jewellery-making traditions while offering a bold contemporary aesthetic.


Hellcat Eyewear’s Red Hand Sunglasses embrace the growing trend of sculptural, jewellery-inspired frames with bold artistic detailing, reflecting fashion’s shift towards statement eyewear that doubles as wearable art.
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International News5 hours agoDe Beers Narrowed Losses In H1 2026 Despite A Sharp Decline In Rough Diamond Prices
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JB Insights4 hours agoJewellery-Inspired Eyewear Emerges As Fashion’s Latest Luxury Statement

