De Beers’ Forevermark will cease loose diamond business and transform into a jewellery line focused on the Indian market.
Forevermark will move away from using the De Beers name and the transition will begin in April 2024 and be complete by January 2026. Until now, the brand has mainly sold loose polished diamonds to the midstream of the diamond industry and then the products would be offered in retail level. After the transition, Forevermark will sell finished jewellery.
According to a letter to Forevermark partners signed by Sandrine Conseiller, CEO of De Beers brands, Forevermark will become a jewellery brand from January 2026. The brand will initially look to develop the new model in India, where they expect the commercial potential to be greatest. After they have evolved the proposition in India, they will look at the potential opportunities for the refocused Forevermark brand in other consumer markets, alongside other retail propositions that they continue to develop.
De Beers launched Forevermark around the time it wrapped up its “A Diamond Is Forever” campaign, which signalled the end of its generic marketing efforts. In recent months, De Beers has increasingly embraced category marketing for natural diamonds. The group plans to roll out another generic campaign later this year, following its “Seize the Day” advertising in 2023.
02-04-2024
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