$80 Billion Diamond Market Plunge Leaves De Beers Staggered

Declining interest has left De Beers struggling and poses major challenges to the owner's intention to divest from what used to be the industry's behemoth.

Historically, the elite of the diamond trade have convened 10 times annually for an exclusive gathering. At these events, transactions amounting to hundreds of millions for raw diamonds occurred within days.

However, the dynamics have recently shifted dramatically.