De Beers to Open 15 Forevermark Stores in India by 2025
De Beers, a global leader in the diamond industry, will soon expand its retail presence in India. The company plans to open 15 Forevermark stores by the end of 2025. This move highlights De Beers’ commitment to strengthening its position in India, one of the world’s largest diamond jewellery markets.
The Forevermark brand, known for its high-quality and ethically sourced diamonds, will spearhead this expansion. The first store is expected to open in June or July 2025, with eight stores planned for Delhi and the remaining seven for Mumbai. De Beers believes this approach will allow it to connect more directly with consumers and capture a larger share of India’s growing luxury market.
Exclusive Retail Strategy
De Beers India’s Managing Director, Amit Pratihari, explained the company’s decision to move away from large retail chains. Instead, De Beers will focus on exclusive stores, either owned directly or operated by franchisees. This strategy will provide a more personalized shopping experience for customers, creating a direct connection between the brand and consumers.
“We are investing in retail through Forevermark jewellery. We will open 15 stores this year, eight in Delhi and the rest in Mumbai,” Pratihari said. “We believe that exclusive stores will help us build trust with customers and enhance their shopping experience.”
This shift towards exclusive stores is part of a larger trend in the luxury goods sector. Many high-end brands are focusing on creating a curated, premium experience in standalone locations rather than relying on third-party retail chains.
Long-Term Expansion Plans
De Beers has set its sights on even greater growth. The company plans to establish 100 Forevermark stores in India by 2030. The brand’s revenue target for this period is $1 million. With only 10% of India’s population currently purchasing diamond jewellery, De Beers sees a huge opportunity to expand. India is the world’s second-largest diamond jewellery market, making it a crucial region for future growth.
By focusing on exclusive retail stores, De Beers aims to provide a superior shopping experience while capturing a larger share of the market. The company sees this as a long-term investment that will pay off as India’s middle class grows and its demand for luxury goods increases.
Introducing Diamond Verification Technology
As part of its push for greater transparency, De Beers has launched a new diamond verification technology in India. This tool will allow consumers to distinguish between natural and synthetic diamonds. It is designed to provide greater confidence to buyers, ensuring they receive only authentic, high-quality diamonds.
Pratihari noted, “This simple technology will help detect whether a diamond is natural or synthetic. It will play an important role in protecting consumers and ensuring they make informed decisions.”
The technology has already been commercialized in India. It represents a critical step toward ensuring transparency in the growing diamond market, where consumers are becoming more discerning and knowledgeable.
No Threat from Synthetic Diamonds
Despite the rise of synthetic diamonds, De Beers remains confident in the continued success of natural diamonds. Pratihari explained that quality certification is essential to differentiate natural diamonds from their synthetic counterparts. He emphasized that De Beers’ commitment to quality and authenticity would ensure the company’s place at the forefront of the diamond industry.
De Beers is also collaborating with the Indian government to develop clear standards for diamond certification. These efforts aim to protect consumers and ensure that all diamonds in the market are properly labeled and verified.
The Future of the Diamond Market in India
India’s diamond jewellery market has seen tremendous growth in recent years. As more young professionals and affluent individuals purchase diamond jewellery for weddings and personal celebrations, demand continues to rise.
De Beers is positioning itself to benefit from this trend by creating a direct connection with consumers through its Forevermark stores. By offering high-quality, certified diamonds and leveraging innovative technology, the company is poised to become a leader in India’s luxury diamond market.
Conclusion
De Beers’ plan to open 15 Forevermark stores by 2025 is a major step in its strategy to expand its footprint in India. With a goal of 100 stores by 2030, the company aims to capture a significant share of the growing diamond jewellery market. By focusing on exclusive retail stores, embracing diamond verification technology, and promoting quality certification, De Beers is set to lead the way in providing consumers with authentic and ethically sourced diamonds.
As De Beers continues its expansion into India, it will be interesting to see how the brand’s focus on exclusivity and transparency will shape the future of the Indian diamond market.
