De Beers ponders sale of brand name to luxury group

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London - De Beers is believed to be in talks about the possible sale of its brand name to a global luxury goods group, according to a report in the U.K. financial daily The Financial Times. A De Beers spokesman declined to comment, suggesting any announcement will be made at the end of February. De Beers is considering a straightforward joint venture with a luxury group like France's LVMH, according to the FT. The venture could include opening shops around the world.

Copyright January 2001, Crain Communications Inc.

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