De Beers will stake its ground as a retail player with a long-term plan to open roughly 150 stores under the De Beers LV joint venture with Moet Hennessy Louis Vuitton (LVMH), according to a London newspaper.

The London Times reports that the company will invest $500 million in the venture.

“We are in mind to have more or less 150 stores, although not all of them may be directly operated by us,” Guy Leymarie, chief executive of De Beers LV told the Times. “We hope to become a major player in diamond jewelry.”

According to the story, about half of that play will be in the United States. With antitrust issues settled, the company is ready to make a big push, beginning next month with the opening of its Manhattan showroom, and with a Beverly Hills, Calif., store slated for October.

De Beers LV currently has four stores in operation, with one in London and three in Tokyo.


Source : www.nationaljeweler.com