Forevermark to expand in India, to add 30 retail partners by 2018

By

Maverick Martins

Published
Sep 18, 2017

Forevermark, the diamond brand from the De Beers Group of Companies is looking to expand its presence in the country and will be adding 20 to 30 retail partners by 2018 as it believes the diamond market is picking up again after a slowdown last year, said a top company official.
 

The company currently has around 230 retail partners in the country and looking to add more 20-30 across the country especially the metros and South Indian cities for growth.
 
Forevermark is happy with the growth the company is witnessing in India and expects GST & digital disruption to help the company grow further in the country.

"The market is slowly picking up and we are witnessing positive consumer sentiment. As we work with retail partners, we are planning to expand by 20-30 doors to take the total to 250-260 doors by the next year," Forevermark India President Sachin Jain was quoted as saying by a news agency PTI.
 
"For diamonds, we see south as the strongest market in terms of sales. After that, it is west and then north and east, which are almost at the same level," Jain said.
 
Forevermark CEO Stephen Lussier earlier had said that India is an important market for the company as it contributes 15-20% of the global market share more than USA and currently only behind China.
 
Forevermark launched in India in 2011 and is planning to launch the country’s second exclusive store in Kolkata later this year.