The company aims to scale down its current business model of operating through leading chains and focus more on exclusive stores
Mumbai: De Beers, a global leader in the diamond industry, has announced that it will enter the retail segment in India with the opening of 15 Forevermark brand stores in the current year. De Beers India Managing Director Amit Pratihari said the plan is to establish 100 retail stores by 2030 with a revenue target of $ 1 million.
“We are investing in retail through the Forevermark jewellery brand. We will open 15 stores, eight in Delhi and the rest in Mumbai this year,” Pratihari told news agencies.
The retail spaces for opening the stores have been identified, and the first store is expected to open in June or July, he said, but declined to share financial details.
Pratihari said the company plans to scale down its current business model of operating through leading chains and focus more on exclusive stores, either owned or franchisee, to expand its market-share. He noted that there is huge scope for expansion in the market, given only 10% diamond jewellery penetration in India.
Pratihari also addressed concerns regarding the rise of synthetic diamonds, assuring that the natural diamond industry faces no significant threat from lab-grown diamonds. He emphasized the importance of quality certification to differentiate the two, protecting consumers’ interests.
At the 11th Retail Jeweller India Forum 2025 held recently, where Pratihari was a speaker, he had said, “We are refocusing our efforts on India and aligning with the Make in India vision to capitalize on the country’s growing premium segment and rising disposable incomes.”The company is actively collaborating with the Government to further this cause, he mentioned.
Forevermark was launched in 2008 as a subsidiary of the De Beers Group. Its launch was initially focused on Asia, with markets in Hong Kong, China and Japan established by 2009. The brand expanded to the United States and India in 2011. Forevermark diamonds are available at more than 2000 jeweller locations worldwide.
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