De Beers‘ subsidiary Forevermark is set to transform from a provider of loose diamonds to a dedicated jewellery brand focusing on the Indian market.
The brand will phase out its association with the De Beers name, a notable shift from a rebranding strategy implemented three years ago. The transition is planned to start in April 2024 and is expected to be completed by January 2026.
Transition to a Dedicated Jewellery Brand
Forevermark will discontinue its supply of loose diamonds, shifting its focus towards the sale of finished jewellery exclusively at its branded outlets. In a letter to Forevermark partners, Sandrine Conseiller, CEO of De Beers’ brands, and Paul Rowley, its executive vice president for diamond trading, stated, “Forevermark has played an integral role in advancing the marketing and retailing of natural diamonds since its inception in 2008. As we continue to evolve the brand for a commercially successful future, we have decided that, from January 2026, Forevermark will be refocused only as a jewellery brand.”
During this period of transition, Forevermark retailers will still have the opportunity to buy and sell both Forevermark loose diamonds and jewellery. However, starting January 2026, Forevermark jewellery will be sold solely in franchised and wholly owned stores, marking a shift from its availability in various retail settings, as noted by David Johnson, head of strategic communication at De Beers.
Focus on the Indian Market
The brand’s decision to focus on India is driven by the strong market performance and consumer demand in the region. David Johnson highlighted the brand’s recognition, saying, “There’s really strong recognition of the Forevermark name in India.” After establishing the new model in India, De Beers intends to explore opportunities in additional markets.
Leadership and Strategic Review
Shweta Harit has been appointed as Forevermark’s global senior vice president to oversee this strategic shift. This move is part of a broader examination of De Beers’ downstream activities, with further details expected to be announced at the JCK Las Vegas show. Commenting on the strategic direction, Johnson elaborated, “We’ve been looking at our strategy across the De Beers business…Part of that has been looking at our downstream and retail-facing activities and considering how best to progress in that direction.” He also clarified De Beers’ commitment to Forevermark, stating, “The focus throughout the [strategic] review has been on getting the right commercially successful proposition…We’ve looked at a range of options, but it’s a key part of our natural-diamond promotion and differentiation work.”
Industry Implications
This strategic redirection signifies a new phase for Forevermark and reflects broader trends in the jewellery industry, with a focus on brand-led retail and market-specific strategies. The shift towards a more direct retail model in India, and potentially other markets later on, indicates changing dynamics within the industry, particularly around brand engagement and retail strategies. As Forevermark undergoes this transition, the industry observers and professionals will be keen to gauge the impact on global and local jewellery markets.
