De Beers Forevermark witnesses strong diamond demand in South India, plans retail expansion in 2022
South India is De Beers Forevermark’s largest market in India and it plans to continue to expand in the area, the brand announced in a press release. The brand currently has 270 points-of-sale in India in 60 markets and plans to reach a total of 300 this year. De Beers Forevermark also plans to expand its exclusive brand outlets from 12 to 30 by the end of the calendar year.
“The growth trajectory has been very strong for us in the past few years and we expect it will continue,” said De Beers India’s managing director Sachin Jain in a press release. “People want to invest in luxury products but ones that hold value and want an assurance of genuineness. Despite the challenges experienced due to the pandemic, Indian consumers have expressed strong demand for diamond jewellery, outstripping demand for other luxury categories. We have created a world of unique precious jewellery - urbane, intricate, minimalistic designs that are informal and experimental for everyday wear. One of the key lessons the pandemic has taught us is to value that, which is genuine and real.”
The business has seen retail demand evolve over the past few years with more women purchasing diamond jewellery for themselves instead of just receiving it as a gift. De Beer’s natural, responsibly sourced diamonds are seeing increasing demand in South India and the brand sees significant growth potential in Tier 2 and 3 cities where it retails through partnerships with authorised multi-brand stores.
De Beers Forevermark plans to continue to capitalise on its South India growth.
“Our expansion in the South is testament to our commitment to make contemporary jewels accessible to customers across different regions,” said Jain.
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