De Beers

De Beers is a South African diamond conglomerate. Founded in 1888 to exploit South African mines, De Beers is now active in many countries (Botswana, Namibia, South Africa). For most of the 20th century, De Beers has endeavoured to monopolize the supply of rough diamonds to all diamond dealers and diamond-cutting factories in the world, thus managing to control the market, set prices and avoid price fluctuations by keeping them at a high level. However, De Beers' dominance of the world diamond market has increased from 90% (in the 1980s) to 40% in the early 2010's. The market is now dominated by the De Beers' own diamond company .