Editing De Beers (section)

==History==

===Foundation===
[[File:CecilRhodes.jpg|thumb|[[Cecil Rhodes]] founded De Beers in 1888]]
[[File:1st Baron Rothschild.jpg|thumb|[[Nathan Rothschild, 1st Baron Rothschild]], of the [[Rothschild family]], funded the development of De Beers]]
[[File:De Beers Consolidated Mines 1902.jpg|thumb|[[Preference share]] of the De Beers Consolidated Mines Ltd., issued 1 March 1902]]

The name 'De Beers' was derived from the two [[Dutch people|Dutch]] [[settler]]s, brothers Diederik Arnoldus de Beer (1825–1878) and Johannes Nicolaas de Beer (1830–1883), who owned a South African farm named ''Vooruitzicht'' ([[Dutch language|Dutch]] for "prospect" or "outlook") near Zandfontein in the [[Boshof|Boshof District]] of [[Orange Free State]]. After they discovered diamonds on their land, the increasing demands of the British government forced them to sell their farm on 31 July 1871 to merchant Alfred Johnson Ebden (1820–1908) for £6,600. ''Vooruitzicht'' would become the site of the [[Big Hole]] and the De Beers mine, two successful diamond mines. Their name, which was given to one of the mines, subsequently became associated with the company.<ref>[http://www.capetowndiamondmuseum.org/about-diamonds/famous-people/ Famous people], ''Cape Town Diamond Museum''</ref>

[[Cecil Rhodes]], the founder of the [[British South Africa Company]], got his start by renting water pumps to miners during the [[diamond rush]] that started in 1869,<ref>{{cite book |last1=Jessup |first1=Edward |title=Ernest Oppenheimer : a study in power |date=1979 |publisher=Collings |location=London |isbn=0860360873 |pages=23–24}}</ref><ref name="Diamonds : from birth to eternity">{{cite book |last1=Wilson |first1=A.N. |title=Diamonds : from birth to eternity |date=1982 |publisher=Gemological Institute of America |location=Santa Monica, California |isbn=0873110102 |page=135}}</ref> when an 83.5 [[Carat (unit)|carat]] diamond called the '[[Star of South Africa (diamond)|Star of South Africa]]' was found at [[Hopetown]] near the [[Orange River]] in South Africa.<ref name="Diamonds : from birth to eternity"/><ref>{{cite book |last1=Roberts |first1=Brian |title=The diamond magnates. |date=1972 |publisher=Hamilton |location=London |isbn=0241021774 |page=5}}</ref><ref>{{cite book |last1=Chilvers |first1=Henry |title=The Story of De Beers |date=1939 |publisher=Cassell |page=5}}</ref> He invested the profits of this operation into buying up [[Land claim|claims]] of small mining operators, with his operations soon expanding into a separate mining company.<ref name="Kretchmer"/> He soon secured funding from the [[Rothschild family]], who would finance his business expansion.<ref>{{cite book |title=The Rise and Fall of Diamonds |url=https://books.google.com/books?id=yxRkAAAAIAAJ |isbn=0-671-41289-2 |access-date=27 November 2008 |publisher=Simon and Schuster |year=1982 |author=Edward Jay Epstein}}</ref><ref name="Knowles">{{cite book |title=The Economic Development of the British Overseas Empired |isbn=0-415-35048-4 |url=https://books.google.com/books?id=SoaY8HBBcKQC |year=2005 |publisher=Taylor & Francis |author=Lilian Charlotte Anne Knowles}}</ref> De Beers Consolidated Mines was formed in 1888 by the merger of the companies of [[Barney Barnato]] and Cecil Rhodes. By this time, the company was the sole owner of all diamond mining operations in the country.<ref name="Kretchmer"/><ref>{{cite book |author=Martin Meredith |title=Diamonds Gold and War |url=https://books.google.com/books?id=4t6XGAAACAAJ |location=New York |publisher=Simon & Schuster, Limited |year=2007 |isbn=978-0-7432-8614-5}}</ref><ref>{{cite book |url=https://books.google.com/books?id=IdrVz9e9CzYC |title=The Autobiography of John Hays Hammond |page=205 |year=1974 |publisher=Ayer Publishing |isbn=0-405-05913-2 |author=John Hays Hammond}}</ref> In 1889, Rhodes negotiated a strategic agreement with the London-based Diamond Syndicate, which agreed to purchase a fixed quantity of diamonds at an agreed price, thereby regulating output and maintaining prices.<ref name="Knowles" /><ref>{{cite book |url=https://books.google.com/books?id=yxRkAAAAIAAJ |title=The Rise and Fall of Diamonds |isbn=0-671-41289-2 |access-date=27 November 2008 |publisher=Simon and Schuster |year=1982 |author=Edward Jay Epstein}}</ref> The agreement soon proved to be very successful – for example, during the trade slump of 1891–1892, supply was curtailed to maintain the price.<ref name="Newbury">{{cite book |url=https://books.google.com/books?id=aarv3Tfb3B0C |title=The Diamond Ring |author=Colin Walter Newbury |isbn=0-19-821775-7 |publisher=Oxford University Press |year=1989 |access-date=27 November 2008}}</ref> Rhodes was concerned about the break-up of the new monopoly, stating to shareholders in 1896 that the company's "only risk is the sudden discovery of new mines, which human nature will work recklessly to the detriment of us all".<ref name="Knowles"/>

The [[Second Boer War]] proved to be a challenging time for the company. [[Siege of Kimberley|Kimberley was besieged]] as soon as war broke out, thereby threatening the company's valuable mines. Rhodes personally moved into the city at the onset of the siege to put political pressure on the British government to divert military resources towards relieving the siege rather than more strategic war objectives.{{citation needed|date=May 2020}} Despite being at odds with the military,<ref name="handbook">{{cite book |title=A Handbook of the Boer War With General Map of South Africa and 18 Sketch Maps and Plans |url=https://www.gutenberg.org/ebooks/15699 |publisher=[[Gale and Polden]] Ltd |location=London and Aldershot |year=1910 |access-date=2 October 2008}}</ref> Rhodes placed the full resources of the company at the disposal of the defenders, manufacturing [[Shell (projectile)|shells]], defences, an [[armoured train]] and a gun named ''[[Long Cecil]]'' in the company workshops.<ref>{{cite book |url=https://archive.org/details/besiegedbyboers00ashegoog |title=Besieged by the Boers; a diary of life and events in Kimberley during the siege (1900) |author=Ashe, E. Oliver |publisher=Doubleday, Page & Co. |location=New York |year=1900}}</ref>

===Oppenheimer control===
In 1898, diamonds were discovered on farms near [[Pretoria]], Transvaal. One led to the discovery of the [[Premier Mine]]. The Premier Mine was registered in 1902 and the [[Cullinan Diamond]], the largest rough diamond ever discovered, was found there in 1905.<ref>{{cite book |last1=Levinson |first1=Olga |title=Diamonds in the desert : the story of August Stauch and his times |date=1983 |publisher=Tafelberg |location=Cape Town |isbn=0624019217 |page=3 |edition=1st}}</ref> (The Premier Mine was renamed the Cullinan Mine in 2003.) However, its [[Nicky Oppenheimer|owner]] refused to join the<ref name="Factbox: De Beers past and present">{{Cite news |url=https://www.reuters.com/article/us-angloamerican-debeers-fb-idUSTRE7A33O320111104 |title=Factbox: De Beers past and present |date=4 November 2011 |work=Reuters |access-date=2017-07-30}}</ref> De Beers cartel.<ref name="Zoellner">{{cite book |url=https://books.google.com/books?id=n8cDYak68CMC |author=Tom Zoellner |year=2007 |publisher=Macmillan |isbn=978-0-312-33970-8 |access-date=27 November 2008 |title=The Heartless Stone: A Journey Through the World of Diamonds, Deceit, and Desire}}</ref> Instead, the mine started selling to a pair of independent dealers named [[Bernard Oppenheimer|Bernard]] and [[Ernest Oppenheimer]], thereby weakening the De Beers stronghold.<ref name="EB"/>
[[Francis Oats]], who became Chairman of De Beers in 1908, was dismissive of the threats from the Premier Mine and the finds in [[German South West Africa]].<ref>{{citation |last=Farrell-Robert |first=Janine |title=Glitter & Greed: The Secret World of the Diamond Cartel |url=https://books.google.com/books?id=bHxgFQssc2IC&pg=PT171 |access-date=2016-08-17 |date=2007 |publisher=Red Wheel Weiser |isbn=978-1-60925-880-1 |pages=PT171ff}}</ref>
However, production soon equalled all of the De Beers mines combined. Ernest Oppenheimer was appointed the local agent for the powerful London Syndicate, rising to the position of mayor of Kimberley within 10&nbsp;years. He understood the core principle that underpinned De Beers's success, stating in 1910 that "common sense tells us that the only way to increase the value of diamonds is to make them scarce, that is to reduce production".<ref name="Zoellner"/>

During World War I, the Premier Mine was finally absorbed into De Beers. When Rhodes died in 1902, De Beers controlled 90% of the world's diamond production. Ernest Oppenheimer took over the chairmanship of the company in 1929,<ref>{{cite book |last1=Chilvers |first1=Henry |title=The Story of De Beers |date=1939 |publisher=Cassell |page=310}}</ref> after buying shares and being appointed to the board in 1926.<ref name="EB">{{cite book |url=https://www.britannica.com/EBchecked/topic/153349/De-Beers-SA |title=De Beers S.A. |date=28 November 2023 |publisher=Encyclopædia Britannica}}</ref><ref>{{cite book |last1=Corbett |first1=Ali |title=Diamond Beaches: A History of Oranjemund |date=2002 |publisher=Namdeb Diamond Corporation |isbn=0620282886 |page=14 |edition=Second}}</ref><ref name="The Story of De Beers"/> Oppenheimer was very concerned about the discovery of diamonds in 1908 in German [[South West Africa]], fearing that the increased supply would swamp the market and force prices down.<ref name="Janine P. Roberts 2003"/><ref name="Theodor Emanuel Gregory 1977"/> Former CIA chief Admiral [[Stansfield Turner]] claimed that De Beers restricted US access to industrial diamonds needed for the country's war effort during World War II.<ref name="Roberts">{{cite book |url=https://books.google.com/books?id=raO8jHBdDhYC |author=Janine P. Roberts |title=Glitter & Greed: The Secret World of the Diamond Empire |pages=115–21 |isbn=0-9713942-9-6 |publisher=The Disinformation Company |year=2003}}</ref>

During the early 1930s, the company conducted experimental work which in large part pioneered the use of [[Exploration diamond drilling|diamond drills]]. This was highly preferable to more expensive and rarer carbons previously in use.<ref name=":0">{{Cite journal |last=Oppenheimer |first=Ernest |date=1947 |title=The Discovery of Gold in the Orange Free State and Its Economic Effects |url=https://www.jstor.org/stable/718071 |journal=African Affairs |volume=46 |issue=185 |pages=220–223 |doi=10.1093/oxfordjournals.afraf.a093590 |jstor=718071 |issn=0001-9909}}</ref> The [[Free State Gold Rush]] was made possible in part due to this innovation, as the fields required deep drilling to reach [[Gold reef|gold-bearing reefs]].<ref name=":0" />

In May 1955, Ernest Oppenheimer opened the new headquarters which combined the operations of Anglo American and the De Beers group.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/265 265] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/265}}</ref> After Ernest died in November 1957, operation of Anglo and De Beers were passed on to his son, [[Harry Oppenheimer]].<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/267 267–68] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/267}}</ref> Under Harry, the company expanded to several different countries around the globe, including Canada, [[Australia]], [[Malaysia]], [[Portugal]], [[Zambia]], and [[Tanzania]].<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/291 291–92] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/291}}</ref> In South Africa, Harry opposed [[apartheid]], arguing that it hindered economic growth.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/284 284] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/284}}</ref> Despite this, De Beers has been criticized for profiting from the system during the apartheid period.<ref name="Factbox: De Beers past and present"/> By 1973, Anglo and De Beers accounted for 10 percent of South Africa's gross national product and 30 percent of the country's exports.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/316 316] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/316}}</ref>

Throughout the 1960s and 1970s, De Beers attempted to secretly enter the United States' diamond market, being forced to divest its American assets in 1975 to avoid the risk of violating anti-trust laws.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/318 318] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/318}}</ref> Harry Oppenheimer stepped down as the chairman and director of Anglo-American and De Beers in December 1982.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/346 346] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/346}}</ref>

===21st-century changes {{Anchor |Diamond monopoly }}===
[[File:Vladimir Putin in South Africa 5-6 September 2006-16.jpg|thumb|right|Russian president [[Vladimir Putin]] meeting former De Beers chairman [[Nicky Oppenheimer]] in South Africa in 2006]]

During the 20th century, De Beers used several methods to leverage its dominant position to influence the international diamond market.<ref name="Kretchmer">{{cite web |url=http://pages.stern.nyu.edu/~lcabral/teaching/debeers3.pdf |title=De Beers and Beyond:The History of the International Diamond Cartel |publisher=[[New York University]] |author=Tobias Kretschmer |date=15 October 2003 |access-date=25 November 2008}}</ref><ref name="Lopus"/> First, it attempted to convince independent producers to join its single [[Distribution (business)|channel]] monopoly. When that did not work, it flooded the market with diamonds similar to those of producers who refused to join in, depressing their price and undermining return for the resistant. It also purchased and stockpiled diamonds produced by other manufacturers as well as surplus diamonds in order to control prices by limiting [[Supply and demand|supply]].<ref name="Campbell"/> Finally, it bought diamonds when prices fell considerably naturally, to constrict supply and drive their value back up, such as during the Great Depression.<ref>William Boyes; Michael Melvin (1 January 2012). Microeconomics. Cengage Learning. pp. 219–. {{ISBN|1-133-71216-9}}.</ref>

In 2000, the De Beers business model changed<ref name="Campbell">{{cite book |url=https://books.google.com/books?id=Gz-5QCLlLaEC |title=Economics: Principles, Problems, and Policies |page=456 |author=Campbell R. McConnell, Stanley L. Brue |publisher=McGraw-Hill Professional |year=2005 |access-date=26 November 2008 |isbn=978-0-07-281935-9}}</ref> because of factors such as the decision by producers in Canada and Australia to distribute diamonds outside the De Beers channel,<ref name="Kretchmer"/><ref name="Lopus">{{cite book |url=https://books.google.com/books?id=sI65nv9KAfgC |title=Capstone |author=Jane S. Lopus |publisher=National Council on Economic Education |access-date=25 November 2008 |page=61 |isbn=1-56183-516-1 |year=2003}}</ref> as well as increasingly negative publicity surrounding [[blood diamond]]s, which forced De Beers to protect its image by limiting sales to its own mined products.<ref>{{cite news |url=http://www.economist.com/node/21538145 |title=Betting on De Beers |newspaper=The Economist |date=12 November 2011}}</ref>

The combination of a more fragmented and thus more competitive diamond market, increased transparency, and greater [[Market liquidity|liquidity]],<ref>{{cite news |url=https://www.economist.com/news/europe/21582575-jewellery-thefts-are-much-more-spectacular-another-french-exception |title=A diamond heist in Cannes |newspaper=[[The Economist]] |date=3 August 2013 |access-date=2 April 2014}}</ref> caused De Beers's market share of rough diamonds to fall from as high as 90% in the 1980s to 29.5% in 2019.<ref name="Anglo American">{{cite web |title=De Beers Analyst and Investor Seminar 2014 |url=http://angloamerican.com/~/media/Files/A/Anglo-American-PLC-V2/presentations/2014pres/de-beers-analyst-seminar-presentation.pdf |website=angloamerican.com |publisher=Anglo American |ref=Slide 13}}</ref>{{third-party inline|date=October 2022}}

Seeing these developing trends, the Oppenheimer family announced in November 2011 its intention to sell its entire 40% stake in De Beers to [[Anglo American plc]], thereby increasing Anglo American's ownership of the company to 85% (with the remaining 15% owned by the Government of the Republic of Botswana).<ref name=ownership>{{cite news |url=http://mg.co.za/article/2011-11-04-oppenheimers-leave-the-diamond-race-with-5bn-sale |title=Oppenheimers leave the diamond race with $5bn sale |newspaper=Mail and Guardian |date=4 November 2011 |access-date=5 November 2011 |author=AFP}}</ref>
The transaction was worth £3.2 billion (US$5.1 billion) in cash and ended the Oppenheimer dynasty's 80-year ownership of De Beers.<ref name=Guardian>{{cite news |url=https://www.theguardian.com/business/2011/nov/04/anglo-american-debeers-diamonds |title=Anglo American gains controlling stake in De Beers |newspaper=The Guardian |date=4 November 2011}}</ref><ref>{{cite news |url=http://mobile.bloomberg.com/news/2011-11-04/anglo-american-agrees-to-buy-de-beers-oppenheimer-stake-for-5-1-billion?category=%2Fnews%2Fmostread |title=Anglo American Ends Oppenheimers' De Beers Dynasty With $5.1 Billion Deal |date=4 November 2011 |work=Bloomberg}}</ref>

In 2020, the De Beers Company released a statement of a values change, promising the world that it is committed to not using slave labor within the company.<ref>{{Cite web |last= |first= |date=21 June 2021 |title=DE BEERS PLC MODERN SLAVERY ACT STATEMENT |url=https://www.debeersgroup.com/~/media/Files/D/De-Beers-Group-V2/documents/uk-modern-slavery-act/uk-modern-slavery-statement-december-2020.pdf |access-date=30 November 2023 |website=DeBeers}}</ref>

In 2025, De Beers reported holding an inventory of unsold mined diamonds valued at approximately US$2 billion. The company attributed this to a decline in demand for natural diamonds, driven in part by the growing popularity of lab-grown diamonds, which have become significantly more affordable. By 2025, lab-grown diamonds were reported to be approximately 90% less expensive than their mined counterparts, compared to a 10% price difference in 2018.<ref name="Walmart" />

===Marketing===
{{see also|Diamonds as an investment}}

De Beers successfully advertised diamonds to manipulate consumer demand. One of the most effective marketing strategies has been the marketing of diamonds as a symbol of love and commitment.<ref name="atlantic" /> Copywriter [[Mary Frances Gerety|Frances Gerety]] (1916–1999) working for [[N. W. Ayer & Son]] coined the famous advertising slogan, 'A Diamond is Forever', in 1947.<ref>{{cite book |url=https://books.google.com/books?id=OYBB_DGQN7kC |pages=65–66 |title=Cinderella Dreams: The Allure of the Lavish Wedding |author=Cele Otnes, Elizabeth Hafkin Pleck |publisher=University of California Press |year=2003 |isbn=0-520-23661-0}}</ref> In 2000, ''[[Advertising Age]]'' magazine named 'A Diamond is Forever' the best advertising slogan of the 20th century.<ref>{{cite web |url=https://learningenglish.voanews.com/a/a-23-2007-03-22-voa1-83131822/126825.html |title='A Diamond Is Forever': How Four Words Changed an Industry |publisher=Voice of America |date=27 August 2014 |access-date=28 August 2014}}</ref> The slogan likely inspired the [[James Bond]] book, film and song title [[Diamonds Are Forever (film)|''Diamonds Are Forever'']].

Other successful campaigns include the '[[eternity ring]]' (meant as a symbol of continuing affection and appreciation),<ref name="atlantic">{{cite news |title=Have you ever tried to sell a Diamond? |author=Edward Jay Epstein |newspaper=The Atlantic Monthly |date=February 1982 |url=https://www.theatlantic.com/past/docs/issues/82feb/8202diamond2.htm |access-date=2 November 2010}}</ref> the 'trilogy ring' (meant to represent the past, present, and future of a relationship) and the 'right hand ring' (meant to be bought and worn by women as a symbol of independence).<ref>{{cite news |title=In a show of power, women raise a glittery right hand |author=[[Jessica Michault]] |newspaper=The New York Times |date=28 February 2005 |url=https://www.nytimes.com/2005/02/27/style/27iht-rhand.html |access-date=2 November 2010}}</ref>

De Beers ran television advertisements featuring silhouettes of people wearing diamonds, set to the music of '[[Palladio (Jenkins)|Palladio]]' by [[Karl Jenkins]]. The campaign, titled "Shadows and Lights" first ran in the first quarter of 1993. The song would later inspire a compilation album, ''[[Diamond Music]]'', released in 1996, which features the 'Palladio' suite. A 2010 commercial for [[Verizon Wireless]] parodied the De Beers spots.<ref>{{cite web |url=http://adweek.blogs.com/adfreak/2010/02/verizon-does-big-red-de-beers-ad-parodies.html |title=AdFreak: Verizon does Big Red, De Beers ad parodies |date=3 February 2010 |publisher=Adweek.blogs.com |access-date=17 July 2010}}</ref>

In May 2018, De Beers introduced a new brand of jewellery called "Lightbox" made with [[synthetic diamonds]]. The synthetic stones start at $200 for a quarter-carat to $800 for a full-carat diamond. The new lab-grown diamonds retail for about one-tenth the cost of naturally occurring diamonds. The new brand began selling in September 2018, and the stones are produced in [[Gresham, Oregon]], a $94 million facility using the region's cheap electricity, which opened in 2018 with a capacity for 500,000 rough carats of diamonds per year.<ref name="bizj_Newd">{{Cite web |title=New details, renderings of $94M diamond plant emerge after groundbreaking in Gresham (Photos) |author=John Bell |work=Portland Business Journal |date=29 June 2018 |access-date=31 July 2020 |url=https://www.bizjournals.com/portland/news/2018/06/29/new-details-renderings-of-94m-diamond-plant-emerge.html}}</ref><ref name="pamp_Synt">{{Cite web |title=Synthetic diamond factory set to move into Gresham this summer |last=Stewart |first=Hailey |work=Pamplin Media |date=13 June 2018 |access-date=31 July 2020 |url=https://pamplinmedia.com/but/239-news/398312-292808-synthetic-diamond-factory-set-to-move-into-gresham-this-summer-}}</ref>
<ref>{{cite news |last=Kottasová |first=Ivana |url=https://money.cnn.com/2018/05/29/news/companies/de-beers-man-made-diamonds/index.html |title=De Beers admits defeat over man-made diamonds |work=[[CNN]] |publisher=[[Time Warner]] |date=2018-05-29 |access-date=2018-05-30}}</ref>

In May 2025, De Beers announced the discontinuation of the Lightbox brand, citing challenges in competing with the increasingly low prices of lab-grown diamonds and shifting market dynamics.<ref name="Walmart">{{cite web | last=Paton | first=Elizabeth | title=Would You Buy Your Diamond Engagement Ring at Walmart? | website=The New York Times | date=2025-05-08 | url=https://www.nytimes.com/2025/05/08/style/synthetic-diamonds-engagement-rings-de-beers-walmart-.html | access-date=2025-05-18}}</ref>