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The Jewelry District

The Jewelry District, Episode 19: Guest Bruce Cleaver

The Jewelry District

JCK

Fashion & Beauty, Business News, Business, Arts, News

9.9 • 25 Ratings

🗓️ 18 May 2020

⏱️ 27 minutes

🧾️ Download transcript

Summary

In This EpisodeIn this edition of The Jewelry District you’ll hear JCK editor-in-chief Victoria Gomelsky (https://www.jckonline.com/writer/victoria-gomelsky/) and news director Rob Bates (https://www.jckonline.com/writer/rob-bates/) conduct their first intercontinental podcast as they interview Bruce Cleaver, chief executive officer of the De Beers Group. You’ll hear them discuss what's going on in the diamond industry, including production, supply and demand, and sustainability. Show Notes00:30 Introduction of Bruce Cleaver, CEO of the De Beers Group03:55 Rob asks how the diamond industry is doing in the face of COVID-1909:54 Rob asks what we can expect regarding production this year, and Bruce recaps the enormous relief efforts De Beers has provided to countries of mining communities15:41 Rob asks about supply and demand19:17 Vic asks about Lightbox and how stores in the United States can begin to reopen22:51 Rob asks about new sustainability projects such as Tracr and reducing carbon footprint Episode CreditsHosts: Rob Bates and Victoria GomelskyEditor: Olivia BrileyProducer and engineer: Katey Clifford and Kathy PasseroPlugs: jckonline.com (https://www.jckonline.com/), @jckmagazine (https://www.instagram.com/jckmagazine/) Show Recap Bruce Cleaver, CEO of the De Beers GroupBruce Cleaver has been with De Beers since 2005. He has been a board director since 2008 and CEO since 2016. He was born in South Africa, but now lives just outside of London, making him the first intercontinental guest The Jewelry District has seen, as Rob and Victoria chat from the United States. Bruce explains his background and how he came into the diamond mining industry. Diamond Sales During COVID-19Rob asks if diamonds are being sold despite the global affects COVID-19 has had on all industries—and Bruce says yes. China has bounced back well, and sales are improving. The rest of the world hasn’t seen as high of a demand, however. You’ll also hear Rob ask about how business is doing on a wholesale level rather than just retail. The diamond industry is a global, interconnected one, and where there is demand, De Beers is determined to service it. Diamond Production and COVID-19 ReliefYou’ll hear Rob ask what we can expect regarding production this year. Bruce says that all of the mines are in slightly different places, and the company wants to start things back up when the time comes in the safest way possible. In better news—De Beers has made significant contribution to COVID-19 relief across South Africa and Canada. It's working to keep mines open and working with governments to step up health care, set countries up with top of the line testing, and other health supplies such as thermometers and food donations. It has also donated $200,000 through UN Women for gender-based violence relief. Supply and DemandYou’ll hear Bruce talk about supply and demand in the diamond industry, including how last year we saw production peak, so we’re likely to see less production toward the end of the crisis than there was before it began. De Beers spent $170 million in advertising last year, and it's committed to driving demand. Coming Out of the Crisis and Lab-Grown DiamondsVictoria asks Bruce about Lightbox and the demand for lab-grown diamonds,

Transcript

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0:00.0

Welcome to the Jewelry District, a podcast by J.C.K. Magazine and JCP Online. Today, JCP's Rob Bates and Victoria Gemalski will interview Bruce Cleaver, CEO of the Debears Group.

0:26.6

Hello everyone, this is Victoria Gimelski, editor-in-chief of JCP andCPOnline.com, and welcome to the jewelry district.

0:39.0

I'm here in my home office in Los Angeles, and I'm with.

0:42.4

Rob Bates, news director of JCPay and JCP Online.

0:46.4

We've got a very special guest today, joining us all the way from the United Kingdom.

0:50.4

His name is Bruce Cleaver. You know him as the CEO of the De Beers Group.

0:55.5

Welcome, Bruce. We're so thrilled to have you. This is a real special experience for us. We've been doing these home

0:59.9

podcasts for several weeks now, but we certainly haven't had one intercontinental podcast. So this is

1:06.4

definitely a new one for us. Well, it's a bit of a new one for me too. So thanks very much for having me,

1:11.4

Victoria and Rob. I'm in my home office as well where I've been for the last 50 days and

1:16.1

living in a new world, I guess. Yeah, and you're in London right now, right? Yes, I'm just outside

1:21.3

London. So I'm locked down in London. And what's the mood over there? I think the mood is starting to improve. The data is getting

1:29.1

better. As you know, London's been very badly affected as the US, but the data is improving,

1:33.6

and there's quite a lot of hope that the first phase of the release of the lockdown will be

1:37.8

starting soon. So I think people have been very disciplined in the lockdown, actually, but

1:41.7

people are looking forward to getting out of it. And is there any guidance that you've received on when the offices can open, when the headquarters can reopen?

1:50.2

So the government's updating the country on Sunday, but we have been talking to them as of other businesses about the procedures we need to follow in the office for when we reopen it.

2:00.7

So we don't have a date yet as to when we'll

2:02.8

reopen, but we have some very clear health procedures and protocols in place as to how we will

2:07.3

reopen the office. So we've done some really good work in the head office, but also across the

2:10.9

world, as I'm sure we'll get to, on the protocols for being safe and reopening offices. So hopefully

2:16.3

people, at least some people,

...

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