De Beers to open jewelry store in Moscow's GUM in Nov

South Africa's De Beers, the world's largest diamond producer, plans to open a jewelry store in Russian shopping mall GUM in early November, the company said in a January-June report, Russian business daily Vedomosti reported Wednesday.

Teimuraz Guguberidze, the managing director of GUM, which is located in Moscow, confirmed the information that De Beers planned to open a store with an area of about 40 square meters in November.

The store will be managed by De Beers’ Russian partner, he said without naming the partner.

No other details were provided.

In 2001, De Beers set up a joint venture for retail sales, De Beers Diamond Jewelers, with Louis Vuitton Moet Hennessy. The company opened its first store in London in 2002.

In 2007, De Beers Diamond Jewelers plans to open 15 stores worldwide.
Source: prime-tass