Forevermark to open about 140 stores next year

Forevermark, the diamond brand from De Beers Group, is

planning aggressive retail expansion in India and is planning to open about 140 retail outlets by the end of next year. At present, De Beers has partnerships with 85 retailers in the country and is present in 13 cities.

Sachin Jain, Managing Director, Forevermark India feels there is a change in Indian consumers. They are keen to have daily wear diamonds. Forevermark is a diamond brand that will offer diamond purchasers, quality, integrity and inspiration.

The brand forayed into Kerala by associating with Sunny Diamonds, known for its unique blend of traditional and contemporary designs, and unveiling a new collection. In Kerala, the group will be looking for one or two more partnerships.

“De Beers controls 40 percent of market share globally. The jewellery business in India was worth Rs 1.20 lakh crores with diamond business accounting for 25 percent. It was growing fast,” Jain says, adding, “In Bangalore, where De Beers and the central government were undertaking joint exploration of diamond since the past 9-10 years, there could be some production in the next 4-5 years.”