Published
Oct 24, 2022
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De Beers Forevermark bets big on South India for festive jewellery sales

Published
Oct 24, 2022

De Beers Forevermark has a positive outlook for this year’s winter festive season and believes it could be one of its strongest to date. The diamond jewellery brand counts South India as its biggest market and expects it to drive double digit growth this season. 

Natural diamond jewellery by De Beers Forevermark - De Beers Forevermark


The business expects strong sales volume this festive season, De Beers Forevermark announced in a press release. The business expects between 10% and 12% growth during the season with strong consumer sentiment and the positive outlook of the retail industry.
 
“There is a lot of positive sentiment in the industry as the festive spirits resumed this year in full fervour after a two-year break,” said the business’ vice president Amit Pratihari in a press release. “We are already seeing an increase in consumer spending, particularly for jewellery and diamonds are most sought after owing to their inherent preciousness. This has also got to do with the shift in consumer buying pattern too as they are now more inclined to purchase items that holds meaning and value. South India is our biggest market and has been the key driver for the growth of our brand that contributes to around 40 to 45% of volume. With this growth outlook and strong demand, we are confident that this festive and wedding season is going to be one of the strongest.”

Expecting strong sales, De Beers Forevermark began the festive season by launching three new, contemporary designs for its Forevermark Avaanti collection. The rings, pendants, and earrings are designed to be paired with traditional or western wear, in line with customer trends. 
 
“The festive season has always been an auspicious time to buy jewellery,” said Suraj Shantakumar, director of Kirtilal Kalidas Jewellery in Hyderabad, a De Beers Forevermark retailer. “There has been a remarkable improvement in consumer sentiment, and we are still witnessing a pent-up demand with consumers making emotional purchases. Now, we see the growing trend of self-purchase among modern independent women, as jewellery, particularly diamonds, has become a visible symbol of their self-expression and independence. The festive season is a wonderful opportunity for the jewellery industry to capture a big slice of consumer spending. Consumers would want to purchase valuable and niche products that bring in bonding too, especially in the context of a festive season.”
 

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