Forevermark to tap smaller cities to double sales in India

By

Maverick Martins

Published
Jul 16, 2018

Forevermark, the diamond brand from the De Beers Group is looking to strengthen its presence in tier 2, 3 and 4 cities of India, as it looks to double its sales during the current financial year.

De Beers witnessed 100 percent growth in the country last fiscal with its brand Forevermark, despite the fall in overall demand jewellery in India by 15 percent, following the Nirav Modi fraud case.
 
The brand is now looking to tap the buying potential of consumers in the smaller cities by partnering with retailers to increase its presence in these cities.

"There is a strong appetite for diamonds in smaller cities. We plan to increase stores gradually in those cities by partnering local retailers," Forevermark CEO and Executive VP De Beers Group of Companies, Stephen Lussier, told PTI.
 
"We are doing much better with our brand. We had 100 per cent growth in 2017. In 2018, we will double again," he added.
 
Forevermark recently held its seventh edition of the Forevermark forum in New Delhi which was attended by leading jewellers from across the country.
 
Commenting on the forum, Stephen Lussier in a statement said, “Given our De Beers heritage and pedigree, our partners look at this forum as a source of information, learning, strategy and direction to understand the future industry, management and product trends. We have always been a disruptor brand and are pleased to continue to work with our valuable partners to bring fresh perspective and futuristic retail innovations to the industry.”
 
Forevermark entered the Indian market in 2011 and currently has over 250 stores through partnerships with retailers across the country. The brand has two exclusive boutique in the country located in Benguluru and Kolkata.