In 1888, Cecil Rhodes incorporated his company, De Beers Consolidated Mines, which became the largest, most successful diamond company in the world. De Beers's memorable ad campaign, A Diamond Is Forever, secured its place as one of the top luxury brands. In 2004, De Beers pleaded guilty and paid a $10 million fine to settle charges of anticompetitive behavior and price-fixing, which had prevented it from selling its collection in the United States for the previous 10 years. De Beers formed a joint venture with Moët Hennessey Louis Vuitton (LVMH) and launched its first store in New York City the same year.
Historical Dictionary of the Fashion Industry. Francesca Sterlacci and Joanne Arbuckle.