Diamond maker De Beers announces opening of outlet in oil-rich Kazakhstan
July 06. The Associated Press
South African diamond company De Beers has announced it has opened a store in the commercial capital of Kazakhstan as it seeks to capitalize on the growing appetite for luxury goods in the oil-rich Central Asian nation.
Johannesburg-based De Beers said Wednesday that the store in the city of Almaty will be operated by Premier Metro Group, which retails and distributes jewelry, watches, cars and fine wines in Kazakhstan.
De Beers Diamonds Jewellers chief executive Francois Delage says the opening demonstrates increasing demand for his company’s products beyond its traditional markets.
The opening of the De Beers outlet comes after the announcement that iconic luxury retailer Saks Inc. will open a 91,000 square-foot (8,500 square-meter) store in Almaty in August 2012.