Image by Getty Images via DaylifeDe Beers Polishes Its ImageDe Beers's 120-year history is marred by crisis after crisis. They publicity track record is not that great. Currently, the company are in a 50%/50% partnerships with Botswana and Namibia. They are also considering ways of diversifying and seeking for new and emerging businesses. This is typical when your mode of business is shaky or its future is not so stable as they say about diamond being forever.
In 2006, De Beers was alleged to be purchasing dirty diamonds, price-fixing and racism. These are great challenges for any company faced with negative publicity from celebrities like Kanye West's Diamonds From Sierra Leone and movies like Blood Diamond.
De Beers has delt with this by coming up with the Kimberley Process of voluntary certification for rough diamonds to allow trace-back of these valuable gems. This however has not protected the companay from backlashing consumers.
Thus the 45-year old company has come up with a new business model.
