In a fascinating tete-a -tete with Soma Bhatta, ace New York designer, Bibhu Mohapatra and Sachin Jain, MD, Forevermark, share their thoughts on collaborative success, the role of technology in evolving storytelling and the opportunity such iconic design partnerships create for Forevermark retail partners to differentiate their brand and to keep the diamond category resonating in the minds of young consumers.
Soma Bhatta: The new nature-inspired designs for your Artemis collection mark your second tryst with Forevermark diamonds. What has the experience been like?
Bibhu Mohapatra: It’s an incredibly educational and exciting experience for me. For this venture, we explored the soft and more tangible side of nature, such as flowers and leaves. The designs are inspired by the lily flower. So it is elegant and romantic, but, at the same time, it has a linear dimension. This time we have incorporated the yellow diamonds to create shading. Artemis is an idea that we created together, and it has a long way to go. We launched it during the London Fashion Week of September 2019 where I presented the Spring 2020 collection. It was very well-
received.
SB: What has it been like working with Bibhu? Tell us about the thought behind continuing the Artemis collection.
Sachin Jain: It has been a great opportunity to open up mind-space for new ideas and new forms of creativity. Global research points toward rising aspirations and self purchase getting bigger. As an industry we need to look at aspiration in a more inclusive way and create offerings which feed it. Collaboration with an internationally acclaimed designer is a great way for us to stoke demand, not only for Forevermark, but diamond as a category.
SB: How do you see the Indian consumer evolving, and how is Forevermark reaching out to her?
BM: Consumer tastes are continuously evolving. I work across many countries in the world and observe women across different cultural milieus have evolved. As such, they are seeking unique products that tell a story, but the story has to be authentic. I partnered with Forevermark because these values are deep-seated in their brand.
SJ: Forevermark is taking new strides when it comes to addressing the new-age consumer. Collaborating with like-minded professionals is part of the process. We hope that such collaborative design initiatives create compelling storytelling opportunities for retail partners. Besides, we are introducing technology in mainstream retail, which will allow retailers to make the story behind the brand accessible to those who are interested in knowing about it. Such initiatives will help to deepen the engagement of buyers with not only Forevermark but also the product category.
At a time when millennial consumers are supposed to be going away from the category, these measures will bring them back into the fold. Earlier, we were more conservative about our associations as we wanted to take our time to learn, but now we are ready with the technology and ready to partner with like minded retailers who may wish to collaborate with us in bringing new experience to the diamond customer.
SB: The idea of affordable luxury and everyday wear jewellery is growing. How accessible is the new range of Artemis?
BM: Forevermark is known for its iconic designs. But I want a bit more than creating such designs. I want to touch as many lives as I can. We talked about it and agreed to do iconic collections that are aspirational, but are supported by more affordable prices. I wanted people of different strata of society to be able to own the collections. We have these four iconic pieces that have been there since inception, and from there, we created about 12 pieces of sharper price-point derivatives.
SJ: The diffusion line which is inspired from the original pieces comprises entry-level products. We are also allowing a bit of customization for those who wish to fit this collection in their budget. Bibhu’s collection is very accessible. The rings start from about Rs 1 lakh, so it’s a price point which is very approachable.
SB: How ready are Indian Forevermark retail partners for such collaborative design offerings?
BM: It was a big project to take this from concept to realisation, and there was lot of effort that went into it. But the actual work starts now. I think that’s where the legacy of De Beers and Forevermark helps. The way people connect with the brand enables us to take these unique collaborations to the retailers, who, then, tell the story to the consumer in a way that leads to success.
SJ: Collaborations have a new meaning today. We don’t collaborate with just about anybody. We have partnered with somebody who has brought pride to the country overseas, and he’s now giving back by way of ingenious design creations. So that is a very powerful story. It is a very special partnership for us.
Collaborations like these are one of the ways De Beers brings differentiation in the category. For the industry to leverage it, it will have to be bit more open in trying out new ideas. These are the initiatives by which you get the consumer eyeballs on to the category and stand out as a retail brand. Our partner, PMJ of Hyderabad, who is responsible for this creation, is very open-minded, and it was a pleasure to work with him.
