Richemont stock faces De Beers test as Botswana backs consortium

Richemont is facing a new strategic decision in the De Beers sale after Botswana selected the Global Diamond Consortium as its preferred bidder for Anglo American's interest in the diamond producer on Monday, November 9. Reuters reported that Botswana plans to increase its De Beers stake to 30 percent from 15 percent.

Botswana changes the bidding backdrop

The Reuters report said Botswana will become De Beers' largest single shareholder and that Namibia and Angola will also take part in the transaction. Anglo American is selling an 85 percent interest in the diamond producer.

The development adds weight to earlier reports that Richemont is discussing membership in the Global Diamond Consortium, led by former De Beers chief executive Gareth Penny. The Edge Malaysia, carrying a Reuters report, said the possible transaction could give Richemont greater influence over a key part of its natural-diamond supply chain.

Richemont has not confirmed that it will join the consortium. No participation terms or investment size have been disclosed, so the financial effect for the luxury group cannot yet be assessed. The proposal also carries exposure to a diamond market pressured by weaker prices and competition from laboratory-grown stones.

Strategy meets the earnings test

Richemont owns Cartier and Van Cleef & Arpels, linking a potential De Beers role to its established jewellery businesses. The company last reported first-quarter fiscal 2027 sales growth of 20 percent at constant exchange rates, while its fiscal first-half results are scheduled for Friday, November 13.

Richemont stock traded at 186.25 euros on Lang & Schwarz at 18:10 CET on Monday, November 9, 2026.

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