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India, China drive Forevermark growth

Diamond brand Forevermark boosted its global store network by 20 per cent in 2014.

The De Beers-owned midpoint brand ended the year with 1542 retail stores across 34 markets.

The 2014 results were driven predominantly by growing demand in the US where the economy is resurging – and the growing middle class of India and China who are increasingly choosing diamond jewellery to mark important occasions such as engagements and weddings.

Stephen Lussier, Forevermark CEO, said Forevermark achieved sales at a retail value of around US$750 million last year, evidence its retail partners and consumers were really embracing the brand.”

“Consumer preference for branded diamonds and diamond jewellery is set to continue to increase in 2015. As Forevermark’s distinctive brand proposition addresses confidence issues on quality and integrity, and provides the assurances that today’s consumers are demanding from their high value purchases, we are well positioned to succeed as a leading force in the category.”

Forevermark’s licensee program saw the brand expand into Botswana and Turkey last year. Since the Turkish launch with exclusive partner Zen Diamond in May last year, Forevermark diamonds are already available in 42 of their stores, with more openings planned in 2015. In addition, Middle East partner, Damas opened a new store in Saudi Arabia selling Forevermark.

The company also unveiled a powerful new marketing campaign in 2014 that aims to highlight the brand’s driving belief in the power of a promise, and why only a Forevermark diamond can truly convey consumers’ most important promises in life. It has been positively received in the US, India and licensee markets to date and will launch in Greater China this spring.

Recognising the increasing importance of digital in a consumer’s journey to purchase, Forevermark re-launched its brand website in the latter part of the year with a new look and feel that fully immerses consumers in the brand’s story. Since the refreshed site went live, there have been over 1.5 million page views.

Lussier added: “We have set ourselves ambitious targets for 2015 and continue our plans to expand further in existing and new markets. We look forward to working with our partners around the world to maximise what is a real opportunity for Forevermark in the year ahead.”

 

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