De Beers Forevermark is upbeat demand for diamonds in South India in 2022. The brand had already witnessed a huge response last year, and is expecting to grow in double digits this year too given the pent-up demand, an official statement highlighted.
The brand continues to grow in South India, the largest market for De Beers Forevermark in India. While the brand has 270 doors in India spread over 60 markets, it looks forward to expanding to 300 and expanding its exclusive boutique stores as well from 12 to 30 by the end of this year. Of the 30 exclusive boutique stores, the company will be setting up few stores in South India.
Sachin Jain, Managing Director, De Beers India commented on the outlook, and said “The growth trajectory has been very strong for us in the past few years and we expect it will continue. 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.”
He further added to the statement, “In recent years, we have seen changing consumer practices by women with more and more of them buying diamond jewellery for themselves. We also see great demand for our natural diamonds from the younger generation this year as they prefer jewellery to complement their personality and define their individual style statement. Our expansion in the South is testament to our commitment to make contemporary jewels accessible to customers across different regions.”