Forevermark to launch in India

Friday, 16 July 2010

De Beers, one of the world’s leading diamond company, is bringing their brand Forevermark to India this December. Encrypted in 18 to 21 carat gold, the jewelry will have a starting price of Rs 10,000 to Rs 12,000. Less than one per cent of the world’s diamonds are eligible to be inscribed with the Forevermark brand icon and a unique identification number. Right now, Forevermark is available all over the world for 1.5 to 2 carat diamonds, with high net worth individuals as the target customers.

Meanwhile De Beers is also getting its distribution act together for a volume-led sales growth. It has entered into marketing alliances with leading jewelers like Gitanjali Gems, the owner of brands like Nakshatra, D’damas, Gili and Ashmi. And to educate Indian customers about the virtues of Forevermark, De Beers has launched Rs 100 crores marketing blitz. The Indian diamond jewelry market is worth around Rs 35,000 crores. The country is world’s No. 1 consumer of gold and has the largest population of young people who aspire for diamond jewelry. Both India and China have been witnessing double-digit growth in diamond consumption but while India has shown a growth of 15 to 17 per cent, the number for China is 14 to 15 per cent.