Threats to the Industry: Rivals from Within, International Competition, and Synthetic Diamonds
This chapter deals with the different strategies of De Beers to deal with real and potential competition. From negotiation in some cases, to cruel fights in others, inner and outside threats must disappear. Specific cases are discussed here: the one of the talented Bucharian immigrant Lev Levaev, who succeeded in challenging the traditional monopoly of De Beers, but also several other newcomers such as diamond multinationals in Russia, Canada, and Australia. These are all changing the market dynamic and international diamond business policy. Last but not least, another potential threat, synthetic diamonds, is analysed here as well.