Céline Assimon Steps Down as CEO of De Beers’ Diamond Jewelry Business

LONDON – Céline Assimon is stepping down as chief govt officer of De Beers Jewellers in a pivotal second for the retail model, and the broader De Beers group.

Assimon, who joined De Beers in 2020, will stay till the top of February earlier than taking over a brand new job outdoors the group later this yr.

De Beers wished Assimon “the perfect for all future endeavors,” and stated a search is underway to recruit a successor.

The corporate stated Assimon “efficiently repositioned De Beers Jewellers as a design-led luxurious model via the enlargement of our inventive product portfolio in core collections and excessive jewelery.”

It added that Assimon “constructed the jeweler’s international model presence via relationships with market main companions and laid the groundwork for the launch of its Rue de la Paix flagship retailer in Paris later this yr.”

The model is ready to open the flagship retailer within the fourth quarter in a constructing that has not too long ago been renovated.

De Beers additionally credited Assimon with revamping the feel and appear of the model, which shall be revealed in a brand new advert marketing campaign set for launch later this month.

Assimon succeeded François Delage as CEO of the jewellery enterprise, which is wholly owned by De Beers. In 2017, De Beers took management of what was previously a 50-50 retail three way partnership with LVMH Moët Hennessy Louis Vuitton.

In 2021, Assimon took on the extra function of CEO on the De Beers Forevermark model, and served in that function till March 2024.

Earlier than becoming a member of De Beers, Assimon was CEO of the Swiss jeweler De Grisogono. She has additionally held positions throughout the gross sales, advertising and marketing and merchandising sectors of labels together with Piaget and Louis Vuitton.

Assimon’s depature comes amid wider adjustments at De Beers group.

As reported, the mining big Anglo American is planning to promote or spin off De Beers as a part of an effort to simplify its portfolio, create worth for shareholders, and separate out non-core companies.

Anglo American, which is quoted on the London Inventory Change, stated in a inventory market submitting final yr that De Beers shall be divested or demerged “to enhance strategic flexibility,” each for the diamond firm and for Anglo American.

Over the previous yr, the mining big has been streamlining, promoting off belongings and has additionally introduced plans to separate its platinum enterprise because it focuses on its core copper, premium iron ore and crop vitamins companies.

Earlier this month, Reuters reported that Anglo’s plans to divest De Beers “can be substantively full” by the top of 2025.

Reuters quoted Anglo CEO Duncan Wanblad as saying that De Beers shall be “totally arrange as a standalone enterprise to guarantee that it’s not going to be impacting as a drag in any method, form or type on the enterprise.”

De Beers group has progressively grow to be a drag. The worth of tough diamonds has been falling amid weakening demand post-COVID and a surge in reputation for lab-grown rocks amongst youthful generations.

The nation of Botswana, which owns a 15 % stake in De Beers, has provided to lift its stake within the diamond miner as a part of the deliberate separation of De Beers.

The sale or spinoff of De Beers will mark the top of an period. Anglo had been a shareholder within the diamond miner because the Twenties, and took full management in 2011 after buying the Oppenheimer household’s shares.

Below the Oppenheimers, De Beers dominated the Twentieth-century world diamond market, increasing from mining into advertising and marketing, retail and branded diamonds below the Forevermark banner.