commiss decis juli declar concentr compat common market eea agreement case comp de beer lvmh notifi document number english text authent text eea relev ec commiss european commun regard treati establish european commun regard agreement european econom area articl thereof regard council regul eec decemb control concentr undertak amend regul ec articl thereof regard commiss decis april initi proceed case regard opinion advisori committe concentr march commiss receiv notif propos concentr pursuant articl regul eec merger regul undertak riverbank invest limit riverbank control de beer group de beer sofidiv uk limit sofidiv control lvmh moët henessi loui vuitton lvmh acquir joint control newli form compani rapid world limit rapid world purchas share constitut joint ventur april commiss decid accord articl merger regul articl eea agreement initi proceed case advisori committe discuss draft decis juli parti de beer extens oper world princip activ upstream market diamond pipelin explor mine recoveri valuat market rough diamond small activ relat polish diamond activ market retail jewelleri lvmh princip engag product sale luxuri good own famou brand intern organis sector wine spirit fashion leather good fragranc cosmet watch jewelleri select distribut media art auction rapid world princip activ retail diamond jewelleri primari focu rapid world retail diamond jewelleri extens activ retail luxuri product ii oper januari riverbank sofidiv enter sharehold agreement relat creation newli form compani rapid world iii concentr propos oper involv establish newli creat compani rapid world de beer lvmh parent compani rapid world descript vote right abil exercis veto right matter affect rapid world commerci polici descript commerci polici de beer lvmh joint control joint ventur sourc polish diamond raw materi parti control jewelleri design hous outsourc manufactur activ distribut product distribut system outlet includ rapid world own shop enabl rapid world conduct activ parent commit signific resourc start term financ staff asset propos joint ventur perform last basi function autonom econom entiti propos oper concentr mean articl merger regul iv commun dimens undertak concern combin aggreg worldwid turnov eur billion de beer eur million lvmh eur million commun wide turnov excess eur million de beer eur million lvmh eur million achiev third aggreg commun wide turnov member state notifi oper commun dimens mean articl merger regul relev market relev product market econom sector concern diamond industri diamond pipelin consist stage product explor prospect mine recoveri rough diamond sort valuat suppli rough diamond deal manufactur cut polish jewelleri manufactur jewelleri wholes jewelleri retail pipelin split broad level explor mine suppli rough diamond product sale polish diamond product sale diamond jewelleri level requir expertis core compet total invest requir explor mine suppli rough diamond diamond hardest substanc occur natur form diamond found kimberlit domin primari host rock south africa lamproit main host rock australia kimberlit intrud earth crust quot pipe quot diatrem fissur sill thousand kimberlit pipe world diamond fewer kimberlit deposit major mine kimberlit found world sustain diamond mine diamond erod kimberlit pipe transport river concentr alluvi deposit alluvi diamond bear gravel commonli yield diamond predominantli high gem qualiti mine alluvi gravel deposit initi involv mechanis remov overburden sand boulder expos layer diamond bear gravel excav process diamond recov sea bed mean special modifi sea vessel quot float mine quot world product natur diamond grown million carat annual extract rough diamond brought market number wai major rough diamond produc fed de beer singl channel oper de beer wholli own subsidiari diamond trade compani dtc dtc market rough diamond produc de beer wholli own mine produc mine de beer joint ventur partner diamond sold de beer contract produc notabl alrosa bhp recent de beer purchas rough diamond open market subsequ fed dtc channel produc de beer market rough diamond mean rough diamond sold dealer specialis rough diamond sold directli player downstream diamond pipelin manufactur polish diamond retail decad increas proport world product rough diamond sold altern suppli channel reduct dtc sell third world suppli rough diamond commiss posit question market exist explor product rough diamond separ upstream suppli rough diamond purpos decis demand diamond polish level deriv consum demand jewelleri examin competit condit retail level reach conclus relev market upstream shown recit retail market widest retail diamond jewelleri confirm preliminari conclus relev upstream market wider market suppli rough diamond compris mine market rough diamond commiss explor singl relev market rough diamond narrow relev market notif parti argu result highli differenti natur product continuum lowest qualiti highest qualiti stone break continuum point defin separ relev market market investig support posit univers respond commiss questionnair competitor custom rough diamond divid number group gener criteria rough diamond categoris relat qualiti polish diamond rough produc rough diamond divid jewelleri industri purpos respond standard industri refer base categori rough produc polish diamond carat white slightli includ design gem materi ii rough produc diamond point point top end colour qualiti iii rough produc diamond point top end colour qualiti iv rough produc refer gem high level labour requir remov wast materi repres standard industri refer commiss suffici evid conclud repres separ relev market purpos analysi decid exist narrow market conclus de beer domin remain valid rough diamond market classifi light argument conclud relev upstream market suppli rough diamond product sale polish diamond incorpor jewelleri rough diamond transform polish diamond manufactur polish diamond due natur diamond hard number highli specif skill facil requir order polish rough diamond diamond polish critic apprais rough diamond decid maximis result polish diamond produc extrem compani invest highli specif requir diamond process polish switch product facil polish gem stone world largest diamond polish de beer custom call quot sighthold quot base tradit cut centr antwerp york tel aviv mumbai stage diamond pipelin remain highli fragment de beer sale account third world suppli sold sighthold de beer oper stage diamond pipelin diamdel compani polish divis purpos decis determin diamond polish repres separ relev market activ directli affect oper assess oper remain irrespect definit chosen retail diamond jewelleri notif parti argu relev product market retail luxuri good includ retail diamond jewelleri jewelleri argument present parti regard creativ imagin hallmark luxuri product design stylist plai fundament role creat distinct product luxuri product highli appreci product art luxuri product possess tangibl characterist design qualiti high price intang characterist aura exclus prestig luxuri good desir sake function parti argu purchas decis luxuri good consum primarili base price factor quot commiss approach demand side substitut assess function price inappropri defin luxuri good market quot market test carri commiss initi phase investig subsequ stage gener shown degre heterogen luxuri product mean inappropri diamond jewelleri part wider market luxuri product market investig minor respond state precis market definit market quot fine jewelleri quot includ jewel preciou gem set diamond rubi emerald sapphir platinum gold set differ semi preciou jewel amethyst aquamarin tourmalin gold silver set costum jewelleri imit stone base metal gold plate set differ distribut sale channel fine jewelleri diamond jewelleri exclus sold high end independ seller exclus jewelleri chain store purchas diamond jewelleri frequent event larg part due market effort undertaken year de beer signific proport demand diamond jewelleri relat specif occas peopl live diamond engag ring de beer market quot diamond forev quot campaign increas emot imageri attach diamond due emot imageri diamond jewelleri centr gem stone imperfect substitut diamond jewelleri rapid world focu diamond jewelleri manufactur polish diamond higher qualiti colour jewelleri compris diamond repres separ relev market wider market diamond jewelleri commiss suffici evid conclud repres separ relev market due focu joint ventur brand product exist separ relev market brand diamond jewelleri evid provid parti relat pilot sale brand jewelleri show pilot succeed drive increment demand diamond jewelleri indirect support exist separ market brand diamond jewelleri brand sale addit substitut sale unbrand jewelleri suffici conclud exist separ market brand diamond jewelleri indic market exist commiss receiv evid geograph scope competit brand diamond jewelleri wider unbrand jewelleri recit purpos case reach decis point competit assess remain irrespect definit chosen conclus relev product market retail diamond jewelleri relev geograph market suppli rough diamond rough diamond present mine countri world underground open cast offshor site process manufactur oper countri market test shown limit number seller rough diamond product high weight ratio fungibl rough diamond expect cut polish grade rough diamond trade worldwid basi product sale polish diamond product sale polish diamond thought diamond manufactur facil countri tradit diamond polish centr india israel belgium unit state america individu cut centr increasingli specialis term type good process purpos present decis decid geograph market worldwid region competit assess remain ident irrespect definit chosen retail diamond jewelleri parti submit geograph market retail jewelleri global preval intern travel tourism mean tourist repres target jewel exist inexpens easi travel spur consum quot shop spree quot fashion citi number retail cartier tiffani amp tiffani bulgari van cleef amp arpel tend oper outlet broad spread countri carri market intern basi tailor nation characterist add health world economi perform financi market exchang rate fluctuat signific impact jewelleri market transport cost low comparison high price jewelleri relat narrow market segment brand diamond jewelleri parti argument support respond commiss questionnair brand diamond jewelleri sold content qualiti diamond territori world consum sold specif product made design brand recognit design brand jewelleri sale occur global basi brand sold commun unit state america japan brand diamond jewelleri commiss investig support conclus relev geograph market retail diamond jewelleri global competit seller diamond jewelleri occur primarili local basi nation basi purchas diamond requir trust seller proxim custom import small establish local jewel mean compet successfulli merchandis sell price differ exist region market price japan gener higher unit state america commun due import price point consum purchas price set nation basi adjust rel price result exchang rate countri argument relev geograph market retail diamond jewelleri global reject purpos decis decid relev retail market european eea wide nation local scope conclud geograph retail market diamond jewelleri eea wide appear narrow product segment retail brand diamond jewelleri market global vi compat common market diamond pipelin de beer strategi current oper part de beer strategi seek replac tradit monopolist approach base control suppli strategi base demand driven action creation multi brand environ de beer focus ad market brand initi strengthen control suppli chain diamond suppli centuri de beer sold diamond mine worldwid leverag artifici diamond price stabl match suppli world demand de beer abandon hegemoni react main difficulti face time sudden emerg diamond produc meant de beer effort price high forc hold back larg portion diamond purchas excess suppli competitor inflat price compani market share fell stockpil soar usd billion usd billion ty cash reserv upset investor result stock price fell significantli de beer longer seek bui diamond world plan add suppli control increas consum demand diamond achiev goal de beer develop dual brand strategi compani form lvmh aim develop retail strategi de beer brand base de beer strong consum awar credibl dtc sale market arm de beer forevermark icon quot diamond forev quot gener advertis campaign forevermark proprietari devic identifi select diamond origin dtc conflict free origin seek leverag brand de beer take interest manag diamond pipelin network sighthold wholesal retail dissemin diamond quot supplier choic quot programm announc de beer juli design encourag de beer sighthold work close downstream partner stimul demand creation multi brand environ de beer intend make diamond sell put strongest effect hand return parti argu sighthold improv suppli entitl de beer forevermark addit benefit recent de beer industri benefit advertis campaign market de beer custom order de beer brand exclus joint ventur compani chang gener advertis campaign incorpor forevermark icon signifi fulli own sell market subsidiari dtc summari face increasingli intract logist financi realiti control fate diamond de beer set motion demand base strategi intend drive demand dtc domin posit de beer market product sale rough diamond de beer market share whilst rest market fragment de beer confess quot custodian quot diamond industri centuri de beer control suppli rough diamond share recent reduc decis competitor argyl aeso leav de beer singl channel entrant bhp diamond bhp decid bring diamond market independ note bhp suppli output de beer sale channel recent reduct share suppli tabl de beer remain largest supplier rough diamond supplier achiev market share dispar market share clear indic de beer domin suppli rough diamond tabl estim share rough diamond suppli gt tabl gt de beer control rate product rough diamond mine control mean product quota order ensur market suppli downward pressur price limit explain de beer respond improv downstream rais price rough diamond respond worsen situat downstream mean combin product quota price reduct de beer oper effici mine lead posit exploit futur mine tabl show mine wholli own de beer tabl gt tabl gt tabl show de beer joint ventur mine tabl gt tabl gt de beer largest sourc rough diamond debswana mine debswana joint ventur de beer group botswana govern term joint ventur de beer oper botswanan orapa letlhakan jwaneng mine inform provid commiss de beer jwaneng product diamond mine world term volum carat produc addit de beer profit mine determin tonn or mine effici product annual basi mine account world total product profit revenu data produc de beer world diamond mine revenu mine cost usd gener usd revenu major approxim gener mine control de beer remain gener mine control produc scenario remain product market independ dtc singl channel de beer produc withstand price war place commerci advantag provid control highli profit botswanan mine continu forese futur expect mine life largest botswanan mine jwaneng orapa de beer pace increas level global diamond product level product rough diamond increas usd million usd million de beer share product remain period breadth experi diamond explor wealth data collect relat explor activ de beer predict greater accuraci likelihood sampl site lead product mine virtuou circl enabl de beer retain strong posit relat product rough diamond addit product de beer hold signific level stock releas rough diamond market decid de beer maintain level stock significantli work level level stock consider need de beer oper recognis form notif state strateg decis de beer result reduc stockpil work level control stockpil enabl de beer ensur market oversuppli ensur de beer time releas diamond type qualiti market potenti temporarili flood market de beer state strateg reason decid reduc level stock irrevers strategi reason de beer unabl rebuild stock quickli reduc de beer maintain close econom link competitor dtc market sell arm de beer central sell organis cso number de beer competitor sell signific proport output dtc channel contract dtc russia account world diamond product approxim eur billion russian produc alrosa suppli half output account recit half sold sale contract de beer dtc channel bhp entrant diamond produc sector make sale bhp decid oper extent dtc channel market share larg produc ekati mine canada bhp suppli signific proport product dtc channel sale agreement significantli reduc incent compani compet activ de beer activ competit lead lower price good sell directli lower sale make dtc creat incent compani behav price follow de beer price leader de beer custom depend suppli de beer switch limit extent supplier mine yield higher percentag larger higher qualiti stone mine yield higher percentag smaller colour lower qualiti stone footprint mine chang time depend variat or mine moment aggreg output numer mine de beer group help de beer smooth fluctuat composit product time turn enabl de beer provid consist product produc signific de beer posit market reflect respons commiss receiv market investig respons question eas switch purchas dtc respond highlight purchas rough diamond supplier de beer produc guarante form consist suppli fact supplier produc rough diamond limit number mine mean unabl provid consist sourc suppli turn suppli provid ad hoc basi de beer confirm factor stress aggreg output numer mine de beer group help smooth fluctuat composit product time de beer organis market dtc sell rough diamond suppli carefulli select number compani call quot sighthold quot sighthold entitl make applic broker purchas rough diamond annual quot sight quot organis dtc select sighthold de beer dtc consid highest honour diamond industri gener confid diamond pipelin level jewelleri manufactur retail compani work accept sighthold dtc year utmost convinc dtc financi situat strong reput clientel irreproach sighthold select submit detail confidenti financi data dtc regular basi report rough polish diamond sell level stock dtc check data unannounc premis sighthold manufactur facil request discuss banker sighthold appoint dtc purchas rough diamond estim repres total world market rough diamond sighthold trader diamond cutter polish manufactur quot prepar quot prepar stone cut polish combin locat tradit diamond cut centr york antwerp tel aviv mumbai surat extent south africa east countri commiss investig shown dtc complet discret quantiti qualiti diamond alloc sighthold ten annual sight de beer detail knowledg econom condit downstream diamond pipelin enabl determin volum qualiti diamond releas market price diamond sold year dtc produc annual sale target base data share suppli rough diamond anticip global demand broad categori rough diamond determin sale target realis rang good made dtc determin amount categori plan sell year proport categori alloc region cut centr forecast number box plan sell individu sighthold year produc annual sale target dtc assist de beer quot market control quot respons prepar period report prevail market condit tradit cut centr respons propos alloc categori good adequ avail region cut centr balanc custom market segment enforc de beer role custodian market contribut keep market stabl ensur cut centr promin larg alloc sighthold base centr statist rough diamond cut india presenc de beer downstream core activ diamdel compani polish divis effect competitor client contribut detail depth market assess diamdel compani purchas rough dtc sell secondari market level sighthold cut centr de beer polish divis bui rough dtc sell polish wholesal jewelleri manufactur activ enabl dtc understand polish market feedback market report broker numer survei consum tast demand market diamond jewelleri add vast detail knowledg de beer entir diamond pipelin world quot mine consum quot intern valuat purpos de beer dtc sort rough diamond size shape qualiti colour classif refer price point de beer dtc determin price classif basi price model seek determin polish stone expect polish rough stone produc de beer dtc sourc estim polish stone polish divis price book price inform recognis trade magazin inform obtain market calcul current polish diamond dtc calcul price point rough dtc chang price reflect market condit price appli equal categori made categori reflect movement polish deriv rough diamond sort grade blend quot sell mixtur quot divid specif rang good quot box quot de beer dtc map sighthold yearli alloc take account indic requir sighthold sight cycl period gener demand special event christma demand strong consum market quot full quot pipelin quot full quot diamond pipelin assess de beer regular basi relat stock rough polish diamond carri entiti activ deal manufactur rough diamond level diamond pipelin de beer assess demand stage estim sale assimil de beer control sighthold depend de beer dtc alloc box sighthold respons applic receiv dtc quot menu quot categori box regularli specifi minimum quantiti sighthold appli quot indian fanci usd quot categori undergon statist analysi determin minimum number stone box guarante consist assort rough minimum number stone multipli averag price carat compon part box determin minimum sighthold appli box requir categori quot spot box ct quot usd sighthold inform advanc alloc sight make financi arrang effect cash payment made de beer good sighthold abil negoti price inform individu price point purchas box select rang good number price point leav set price feed comment sight sighthold quantiti ask proportion alloc categori diamond request suspend categori discret dtc sight sight year sighthold refus small proport box alloc dtc part due buoyant market year fact short suppli jeopardis sight risk lose de beer full knowledg control margin sighthold obtain sale diamond present made gari ralf manag director de beer emphasis import factor decis de beer ensur proper margin box sold sighthold envisag quot supplier choic quot arrang increas de beer control custom call quot supplier choic quot arrang encompass strateg review de beer start aim strengthen de beer control sighthold order ultim boost demand polish diamond increas price rough diamond quot supplier choic quot arrang formalis relationship dtc sighthold number wai ultim make de beer sell rough diamond strongest dynam player market order achiev de beer set select sighthold part quot supplier choic quot effort extrem detail confidenti inform exist potenti sighthold collect inform amount financi audit sighthold combin assess busi plan detail request sighthold manufactur abil sale strategi distribut abil presenc strength market plan invest promot market plan activ downstream evalu descript model assess sighthold rel perform basi result model dtc select limit number sighthold henceforth busi determin level alloc sighthold receiv order track perform sighthold time de beer intend updat detail inform sighthold descript frequenc updat give de facto perman transpar view largest part market determin elig sighthold determin meet applic box addit criteria recit dtc account sighthold compli dtc practic principl involv commit engag unaccept practic child labour trade diamond area conflict ensur treatment natur diamond disclos understood mainstai de beer price alloc polici remain unchang de beer descript size reduct reduc number sighthold request full transpar activ relat purchas rough diamond sighthold sale custom strengthen control sighthold knowledg market de beer intent descript size reduct reduc number sighthold keep geograph distribut suppli fulli suppli directli larg proport requir ensur regular trust pipelin creat total depend exclus tighten dtc suppli channel suppli sighthold de beer reduc inter client competit suppli fulli restrict number sighthold de beer ensur select sighthold make long term downstream suppli commit incur financi risk link uncertain irregular suppli turn boost demand end pipelin move look parallel develop forevermark result regain confid dtc singl suppli channel renew attract rough diamond produc increas confid gener upstream premium achiev downstream signific strengthen de beer domin posit market rough diamond creation joint ventur lvmh joint ventur develop exploit brand potenti de beer synonym high qualiti diamond propos creation joint ventur lvmh result strateg review cover aspect de beer busi start process de beer manag identifi number initi includ measur increas demand rough diamond opportun utilis de beer diamond jewelleri brand main pillar quot de beer quot aim realis signific untap potenti de beer brand creation rapid world nm rothschild amp son advis de beer state confidenti inform memorandum respect project rapid joint ventur section de beer brand descript de beer assess brand potenti reason de beer brand heritag base compani year histori diamond industri leader de beer began build relationship consum de beer initi market unit state america origin focuss diamond engag ring diamond engag ring purchas approxim engag coupl unit state america begin consum market activ de beer consum market divis successfulli work develop quot diamond dream quot base physic attribut beauti rariti emot valu love romanc prestig statu mystiqu histori supplement core attribut etern quot diamond forev quot de beer strong relationship consum result de beer commun histori successfulli posit compani quot mentor quot consum choic diamond jewelleri de beer invent global promot cs carat colour clariti cut enabl consum make inform decis diamond engag ring salari guidelin advertis quot make month salari forev diamond engag ring quot led signific increas price diamond engag ring de beer brand awar imag result diamond market campaign carri de beer cumul market expenditur amount approxim usd million de beer brand command high prompt awar proport target consum correctli identifi de beer diamond compani mention worldwid unit state america europ itali germani unit kingdom japan consum unit state america japan associ de beer brand descript type diamond descript result de beer research brand awar show de beer brand consum joint ventur develop global consum brand potenti de beer exclus worldwid right de beer brand luxuri good consum market joint ventur focu premium diamond jewelleri joint ventur base de beer uniqu expertis select offer diamond de beer de beer signific accumul diamond expertis basi joint ventur distinct consum offer de beer central rough diamond trade market divis sell third world gem qualiti diamond sighthold cut centr world diamond valu sort number expert descript expert experi due technic skill aesthet sensit de beer expert assess technic characterist diamond analys nuanc form ultim subject judgment diamond produc balanc optim level fire brillianc joint ventur de beer expertis select beauti diamond alongsid formula grade tradit cs develop distinct diamond jewelleri consum offer technic servic agreement de beer transfer joint ventur de beer personnel technolog descript purpos transfer descript diamond select process relat select criteria manner select diamond brand descript object de beer institut connect rapid world de beer domin posit market rough diamond control sighthold ensur joint ventur access diamond qualiti polish diamond suppli import oper issu joint ventur de beer brand reli deliveri highest qualiti joint ventur enter descript rapid world expect arrang suppli polish diamond supplier polish diamond joint ventur sighthold de beer de beer world main supplier expens qualiti diamond de beer enorm rough diamond alloc power sight system due leav box alloc system sighthold depend de beer provid grade diamond busi sighthold provid de beer regular basi detail inform oper product financi perform polish rough stock polish custom de beer sighthold suppli polish diamond joint ventur de beer rough diamond alloc power enabl direct high qualiti diamond sighthold suppli joint ventur ensur joint ventur consist receiv highest qualiti lvmh expertis develop luxuri good brand manag retail network ensur joint ventur success retail de beer brand diamond expertis domin product market rough diamond de beer retail brand manag skill retail merchandis expertis start jewelleri retail activ chose partner contribut expertis develop luxuri good brand manag retail network lvmh world lead luxuri product group ideal partner develop consum potenti de beer brand lvmh bring extens experi develop luxuri brand roll premium retail concept lvmh uniqu portfolio powerfulli evoc brand great name activ luxuri product compris wine champagn brand moët amp chandon dom pérignon veuv clicquot krug pommeri chateau yquem hennessi fashion leather good brand loui vuitton loew céline berlutti kenzo givenchi christian lacroix fendi pucci fragranc cosmet brand givenchi guerlain christian dior kenzo watch jewelleri brand tag heuer ebel chaumet zenith fred joallier consolid net sale lvmh rose eur billion cognac champagn lvmh number worldwid share cognac share champagn loui vuitton world lead luxuri good brand select fragranc cosmet lvmh number worldwid number europ luxuri watchmak lvmh number worldwid lvmh oper own retail outlet lvmh consid control retail distribut kei success luxuri brand enabl captur retail distribut margin ensur brand imag environ product sold highest qualiti lvmh separ select retail busi group world leader select retail luxuri good lvmh network encompass exclus boutiqu global store fashion leather good hous duti free shopper df luxuri good store sephora perfum cosmet store le bon marché posit exclus depart store pari df number worldwid intern travel retail lvmh acquir miami cruiselin servic base compani world leader duti free luxuri good cruis ship complement activ df joint ventur base lvmh extens experi develop luxuri brand roll premium retail concept kei part lvmh luxuri good portfolio complementari strength de beer lvmh enabl joint ventur achiev lead posit retail higher end brand diamond jewelleri diamond jewelleri fine jewelleri piec diamond estim de beer approxim usd billion retail sale global basi usd sale account diamond jewelleri piec price usd piec retail sale level high end diamond piec descript rapid world product focu diamond jewelleri industri highli fragment major sale made small scale independ jewel typic oper tradit store format specialist stand retail account total retail luxuri jewelleri franc germani itali spain unit kingdom specialist stand import distribut channel luxuri jewelleri unit state america share japan depart store account major luxuri jewelleri retail share depart store import distribut channel franc germani spain unit kingdom duti free import distribut channel larger player industri brand high end jewelleri retail tiffani cartier bulgari van cleef amp arpel retail brand diamond jewelleri sector substanti develop luxuri brand jewelleri segment estim usd billion retail lead player luxuri brand jewelleri cartier turnov usd million tiffani turnov usd million bulgari turnov usd million watch exclud tiffani number turnov usd million cartier turnov usd million number worldwid tiffani lead jewelleri good brand unit state america tiffani account high end piec global scale brand high end jewelleri cartier lead jewelleri brand franc germani unit kingdom lead western jewelleri brand japan cartier account high end piec global scale brand high end jewelleri cartier bulgari lead brand luxuri jewelleri itali spain propos creation joint ventur base de beer heritag world foremost diamond compani effici cost reduct diamond product broad base brand equiti lvmh experi support intern retail sale oper market joint ventur sell diamond jewelleri descript type retail outlet focu higher end diamond jewelleri detail rapid world focu premium diamond jewelleri descript expect structur rapid world joint ventur open number store detail locat store open number store open number store open number boutiqu establish locat geograph breakdown global network compris number store countri number store countri number store kei countri rest world number boutiqu combin de beer brand diamond expertis lvmh design skill brand manag expertis global distribut network enabl joint ventur lead player brand high end jewelleri retail joint ventur net sale project usd usd basi project descript anticip success rapid world perform rel jewelleri retail project oper result usd consequ joint ventur market posit de beer brand establish lead brand brand diamond jewelleri joint ventur significantli strengthen de beer proprietari suppli channel framework forevermark strateg review de beer set separ de beer exclus brand rapid joint ventur dtc trademark forevermark quot diamond forev quot dtc forevermark ident main compon compani dtc world famou slogan quot diamond forev quot visual icon dtc logo call forevermark forevermark intend propos forevermark diamond base dtc diamond practic principl forevermark diamond natur untreat area conflict consist environ practic social behaviour ethic sound forevermark stand integr diamond link qualiti diamond measur tradit cs descript potenti scope applic forevermark fact forevermark repres confid establish dtc quot forevermark quot devic identifi select diamond origin dtc de beer aim significantli increas demand diamond origin dtc forevermark intend synonym conflict free legitim diamond dtc sighthold detail propos forevermark dtc sighthold show diamond conflict free origin result sourc diamond greater issu consum increasingli demand conflict free diamond origin dtc de beer forevermark intend proprietari product assur make dtc diamond intrins valuabl client open market rough support premium price dtc rough de beer aim creat consum pull end pipelin forevermark diamond concentr demand diamond origin dtc result independ produc time decid sell diamond signific extent dtc channel past de beer convinc independ produc alrosa bhp devot portion product de beer de beer role price mainten futur de beer effect arrang power forevermark successfulli establish synonym conflict free diamond ad dtc back rough sale rais cost competit dtc produc hand hand dtc establish premium price dtc rough turn enabl dtc pai independ produc competitor time decid sell dtc singl suppli channel renew attract receiv inferior price open market product joint ventur adopt implement polici practic sourc diamond adher dtc practic principl descript term forevermark commiss investig confirm creation joint ventur establish forevermark joint ventur lead signific structur chang rough diamond market structur chang essenc brought de beer brand strategi descript term forevermark jewelleri industri fragment recit joint ventur base de beer diamond industri leadership intend author diamond jewelleri retail industri leader set standard retail level recit descript term forevermark contribut remain limit joint ventur oper build market posit high end diamond jewelleri brand year de beer publicli announc dtc increas expenditur global gener market campaign drive consum demand diamond invest approxim usd million consum market campaign world famou straplin quot diamond forev quot view de beer domin posit rough diamond appear dtc sighthold successfulli establish forevermark propos joint ventur conclud propos joint ventur lead signific strengthen de beer exist domin posit global market rough diamond vii summari conclud propos concentr lead strengthen domin posit result effect competit imped substanti part common market oper declar compat common market function eea pursuant articl merger regul articl eea agreement adopt decis articl notifi oper riverbank invest limit control de beer group sofidiv uk limit control lvmh moët henessi loui vuitton acquir joint control newli form undertak rapid world limit declar compat common market eea agreement articl decis address riverbank de beer charterhous street london ec ra unit kingdom sofidiv lvmh st georg street london de unit kingdom brussel juli commiss mario monti member commiss oj corrigenda oj oj oj part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk turnov calcul accord articl merger regul commiss notic calcul turnov oj extent figur includ turnov period januari calcul basi averag ecu exchang rate translat eur basi part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk central sell organis de beer stop make open market purchas order minimis risk diamond sell sourc call quot conflict region quot diamond jewelleri retail tiffani recent establish joint ventur mine compani term tiffani suppli directli proport mine output rough diamond tiffani contract diamond polish process rough diamond point carat rapid world expressli forbidden purchas polish diamond de beer own compani form section form section part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk form annex tabl estim share product mine data identifi de beer mine part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk base antwerp israel india hong kong south africa polish divis sale offic london antwerp israel hong kong russia part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk notifi separ commiss case comp part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk effect elimin dealer reduc pipelin de beer confidenti inform memorandum respect project rapid joint ventur rothschild juli page de beer confidenti inform memorandum respect project rapid joint ventur rothschild juli page op cit de beer brand page op cit page op cit page op cit page op cit page part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk op cit page part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark anasterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark withan asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk op cit page op cit page part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk project rapid busi plan decemb execut summari part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk de beer confidenti inform memorandum respect project rapid joint ventur rothschild juli page project rapid busi plan decemb execut summari idem part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk project rapid busi plan decemb appendix part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk op cit de beer institut part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk de beer confidenti inform memorandum respect project rapid joint ventur rothschild juli page joint press releas januari lvmh annual report page op cit page idem idem idem op cit page op cit page op cit page op cit page op cit page op cit page joint press releas januari part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk de beer confidenti inform memorandum respect project rapid joint ventur rothschild juli page part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk project rapid busi plan decemb execut summari op cit page datamonitor luxuri good jewelleri page percentag base op cit page percentag base op cit page percentag base op cit page percentag base datamonitor luxuri good jewelleri page op cit page op cit page project rapid busi plan decemb execut summari op cit page part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk idem part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk op cit page part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk op cit page part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk project rapid busi plan decemb financi project financi summari part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk op cit summari financi statement part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk dtc increas expenditur global gener market campaign drive consum demand diamond invest approxim usd million consum market campaign world famou straplin quot diamond forev quot joint press releas januari sharehold agreement page part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk joint press releas januari