British Jeweler Plans to Release the Remaining Pink Diamonds Over Approximately 10 Years

The Argyle Pink Diamonds story is entering a new chapter.

British luxury jeweler Boodles has acquired the Argyle Pink Diamonds brand from Rio Tinto, along with the remaining inventory of Argyle pink diamonds, associated trademarks, and the brand’s website and digital marketing assets.

The transition was completed October 1, 2026.

And we can tell you that those remaining pink diamonds will not be coming to market all at once. Boodles plans to release them gradually over approximately 10 years.

Gary Roskin
Roskin Gem News Report

That timeline was first reported by the Financial Times in its coverage of the acquisition and has now been confirmed directly to the Roskin Gem News Report by Boodles.

“I can confirm The Financial Times report that Boodles is acquiring Rio Tinto’s remaining inventory of Argyle pink diamonds and plans to release those diamonds gradually over approximately 10 years,” Isabel Eversfield, PR Manager for Boodles, told the Roskin Gem News Report.

Boodles and Rio Tinto have not disclosed the size or value of the inventory. Robyn Ellison, who handles consumer and trade media for Rio Tinto’s Argyle Pink Diamonds, confirmed to the RGNR that details regarding the volume and value of the inventory cannot be shared.

More Than the Diamonds

The agreement goes well beyond the remaining inventory.

According to Rio Tinto, Boodles has also assumed ownership of a suite of trademarks associated with the Argyle Pink Diamonds brand, as well as its website and digital marketing assets.

Who is Boodles?

For Boodles, the relationship with Argyle is not new.

The sixth-generation family-owned British jeweler purchased its first Argyle pink diamond in 1998 and later became a member of the Argyle Select Atelier program.

Boodles Managing Director Jody Wainwright said in announcing the acquisition:
“We are incredibly proud and honoured to be entrusted with the future of Argyle Pink Diamonds brand. Boodles is deeply committed to these extraordinary Australian gemstones. The rarity and beauty of Argyle Pink Diamonds have helped to create exquisite jewellery designs for more than 40 years.”

Rio Tinto Diamonds General Manager, Sales and Marketing Patrick Coppens said the company’s priority was to place the brand with an owner that understood its history and could responsibly steward it into the future.

What Happens Next?

That may be the most interesting question for the gem and jewelry trade.

As you know, the Argyle diamond mine in Western Australia ceased production in November 2020 after 37 years of operation.

And what an extraordinary 37 years.

The mine became synonymous with some of the most extraordinary pink, red and violet diamonds the industry has ever seen, not to mention millions of carats of “champagne” diamonds. According to Rio Tinto, the Argyle diamond mine produced virtually the entire world’s supply of rare pink diamonds during its 37 years of operation.

Yes, mining at Argyle ended nearly six years ago. But the Argyle Pink Diamonds brand did not. For several years after the mine’s closure, Rio Tinto continued to sell from its remaining inventory, including through special auctions. But with that inventory dwindling, it was inevitable that something was going to change.

Now the brand, its remaining diamonds and much of the infrastructure surrounding its identity have moved from one of the world’s largest mining companies to a luxury jewelry house.

Australia News Coverage

Angela Han, Publisher of Australia’s Jeweller magazine, told the RGNR that the transition naturally raises questions for members of the existing Argyle trade network.

“Naturally, the existing Argyle trade network seeks clarity on how Boodles plans to manage current agreements, brand IP, and certifications. A transparent plan and timeline for this transition will be essential for the network to properly uphold and preserve the Argyle legacy.”

For more from Australia, read Angela Han’s in-depth report in Jeweller:
“Argyle Pink Diamonds reveals new ownership.”

So, When Will We See the Jewelry?

In fact, Boodles already features Argyle pink diamonds in several of its collections.

“Argyle pink diamonds are already a key feature of some of our most iconic collections, including Play of Light, Be Boodles and Raindance,” Eversfield told the RGNR. “They will continue to play an important role in our design going forward, as we look for new ways to showcase their colour and individuality.”

But something new is coming.

Boodles is already designing a High Jewellery collection centered around Argyle pink diamonds for 2027. Of course.

“We have an exciting High Jewellery collection planned for next year, centred around Argyle pink diamonds, and the designs are already well underway,” Eversfield said.

And while the remaining inventory is expected to be released gradually over approximately 10 years, Boodles is not planning around a predetermined number of jewels each year.

“Beyond that, we will continue to develop the collection thoughtfully over time rather than working to a set annual volume,” Eversfield said.

So, after more than four decades in which Rio Tinto controlled one of the diamond world’s most recognizable brands, Argyle Pink Diamonds has a new owner.

The mine may have closed in 2020, but some of its most spectacular treasures have yet to make their debut.

And so for the next decade, it appears Boodles will be … in the pink.

NOTE:
Special thanks to Angela Han, Robyn Ellison, and Isy Eversfield for their speedy assistance with this report.