De Beers` new watch line is modeled after talisman medallions, which traditionally were worn for strength, protection and good luck.

New York–De Beers is now in the business of keeping time.

In November, the diamond giant launched a line of eight men`s and women`s watches priced between $12,000 and $38,000.

Though the watches can be seen on De Beers` Web site, Debeers.com , they can be purchased only at De Beers retail stores.

Called the Talisman line, the design of the watches was inspired by De Beers` Talisman Collection of diamond jewelry.

The collection started with the Talisman Suntime Watch. It now includes a range of Swiss-made automatic, manual and quartz watches in white or yellow gold with rough diamonds, baguette diamonds, full pavé-set diamonds, semi pavé-set diamonds or without pavé-set diamonds.

De Beers` foray into the watch world is the latest in a series of decisions by the company to diversify.

The company opened its first U.S. retail stores in 2005 and just celebrated the opening of its fifth U.S. store, in Washington, D.C. De Beers also has retail stores in New York, Las Vegas, Beverly Hills, Calif., and Houston, Texas.