Name change means goodbye to DTC Sightholders

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Corporate realignment will establish De Beers as wider brand.

De Beers Group has announced widespread name changes within its company sub brands to align the group under the umbrella of the De Beers name.

De Beers also announced that Cynthia Carroll, the current chief executive of Anglo-American, will now become the chairman of De Beers.

New corporate realignment within the company has meant that its DTC Sightholders will now be called De Beers Sightholders, while De Beers’ subsidiary Diamdel will change its name to De Beers auction sales.

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De Beers’ spokeswoman Lynette Gould said: “We believe it strengthens the De Beers brand to give everything one name.
Gould added that the proliferation of De Beers’ Group sub –brands has meant that over the years its brands have only diluted De Beers’ leadership position, depriving sub-brand “the full value of the corporate brand”.

De Beers has said the change of names within its group will not happen overnight and has warned Sightholders that they do not need to rush to re-brand.

Gould said that the hange was spurred partly by a strategic review led by consulting firm McKinsey and Co.

The newly named De Beers Sightholder sales will remain under the leadership of Varda Shine.

Also getting new names are De Beers Consolidated Mines South African division, De Beers Marine, De Beers Canada, and DebTech. DTC Botswana and DTC Namibia will not change their names, however.

De Beers’ two consumer brands, the Forevermark and retail chain De Beers Diamond Jewellers will not be affected.
 

 

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