In what year was De Beers Consolidated Mines Ltd. established?

De Beers Consolidated Mines Ltd. was established in 1888, which is significant as it marked the beginning of a major player in the diamond industry. The establishment of the company underscored the formation of a monopoly on diamond production in South Africa and laid the foundation for De Beers' dominance in the global diamond market. This year is crucial in the history of diamonds, as it was during a time when the diamond rush was gaining momentum, and De Beers was pivotal in shaping the industry's dynamics and marketing strategies, which are still influential today. The formation of this company is a landmark event that led to systematic control and the eventual establishment of diamond as a desirable luxury item, a status that persists in contemporary society.