India to Become 2nd Largest Market for Forevermark

Kolkata: Over the years, the Forevermark Forum has evolved into a unique platform for prominent sight holders, manufacturers and leading jewellers from across the country – to shed light on consumer and design trends, conduct business, network, share perspectives and discover the latest innovations. The much-awaited 6th edition of the Forevemark Forum, held by Forevermark, the diamond brand from the De Beers Group of Companies, known for beautiful, rare and responsibly sourced diamonds, took place from 11 to 13 July, 2017 in Kolkata.

This year’s theme at the Forum was ‘Inspire. Innovate. Illuminate’ ­– part of the core philosophy derived from De Beers’ illustrious heritage. Over 30,000 Forevermark diamonds and 1500 designs (earrings, nose-pins, pendants, necklaces, bracelets, bangles, rings etc.) were on display. In pursuit of the diamond dream, Forevermark strives to build a legacy, strengthen partnerships and lead the industry to a dazzling future.

Speaking on the occasion, Mr. Stephen Lussier, CEO Forevermark, said, “It is a matter of great pride for us to have all our partners here at the 6th Annual Forevermark Forum. This year we inscribed the two millionth Forevermark diamond at our lab in Surat which is a true testament of our growth in India. At Forevermark, the Forum reinstates our commitment to our partners by the offering among the world’s most beautiful diamonds at a single venue.”

De Beers’ Forevermark brand of diamonds this year as the company expects to more than double its sales volume in India this year.

“Last year, our sales volume in India stood at 60,000 pieces. This year, we expect this volume to increase and range between 100,000 to 130,000 pieces, thereby, making India the second largest sales volume generator for the Forevermark brand,” said Mr. Lussier.

He further said diamond prices in India, as per the global trend, is poised to remain at 2016 price levels this year.

Forevermark currently has a 20 per cent market share in the price segment it operates in. This price segment accounts for 35 per cent of the total diamond market in India. It also plans to increase its presence from 200 stores to 230 by the end of 2017 and will come up with three more exclusive outlets in Delhi, Mumbai and Kolkata apart from its exclusive store in Bangalore.

Mr. Sachin Jain, President, Forevermark India, stated, “The Forevermark Forum has emerged as the premier platform to stay connected and be informed in the world of diamonds today. Jewellers for whom the diamond business is important and significant, look forward to it as an event to key into their calendar. This is because they have seen over the years that we focus on new retail innovations, the latest technology and consumer insights to help them leverage their business.”

Some of the illuminating programs at the Forum were:

THE EXCEPTIONAL DIAMOND PROGRAM: Of all of the polished diamonds emerging from the rough diamonds mined by the De Beers Group of Companies, only one in a million has what it takes to be an exceptional Forevermark diamond. Typically above five carats after being polished, the gems in this program boast of a carat weight, colour and purity that make them extraordinarily rare.

THE CARAT PLUS PROGRAM: One of the largest collections of rare one-carat plus diamonds, it is an enduring testament to flawless craftsmanship and beauty that goes beyond the 4Cs. This program is available for exhibition and sale at Forevermark authorised jewellers.

THE BLACK LABEL: The Forevermark Black Label Collection is a new generation of diamonds cut with supreme symmetry and unprecedented accuracy to reflect dazzling light. The mesmerising result of decades of research and development by the De Beers Group of Companies, the study revolved around how light travels within a diamond – based on its cut and polish, facet alignment, and shape. Diamonds of unique shapes like the oval, square, cushion and heart, can exhibit the same brilliance as classic round cuts.

FUNCTIONAL JEWELLERY: This year’s spotlight focused on the versatility of jewellery, suitable for multiple occasions for the contemporary Indian woman. Catering to the evolving taste of a younger demographic, innovations such as necklaces converting to bracelets, cocktail rings to solitaires among others were seen.

CAPRICCI COLOUR THERAPY & FOUR SEASONS: Crafted around ‘Wear What You Feel’, the special edition of Capricci, the nose pin collection lets women express themselves creatively. The Colour Therapy range features seven exclusive enamelled jackets in different colours and shapes – each reflecting a different emotion and mood of a woman.

The Seasons edition is presented with four exclusive jackets, each in a different shape and shade of gold to highlight the different seasons of the year. The jackets can be interchanged and worn as different nose pins, and they can even be attached as hoop earrings.

THE ZANYAH COLLECTION: Launched in collaboration with master couturier Sabyasachi Mukherjee, the Zanyah collection brings the urban connoisseur truly stunning modern-day heirlooms created with Forevermark diamonds. Featuring exquisite craftsmanship and rich embellishments in signature Sabyasachi style, the collection comprises of a delicate range of enamelled drop earrings and vintage-style rings for men and women in yellow, rose and white gold.

THE ARTEMIS EXTENSION LINE: In keeping with the interstellar theme, the collection’s extension, designed by ace designer Bibhu Mohapatra revolves around three key motifs: the sun, moon and stars, as seen in earrings, rings, bracelets, pendants and brooches. The collection draws inspiration from ancient Vedic rites, retaining inner balance along with outer strength. It comprises of 44 stunning pieces and intricately mixes yellow and white gold.

THE TWOGETHER COLLECTION: Few things compare to the magic of love, partnership, friendship and companionship for life. The Twogether collection celebrates this enduring bond, featuring two sparkling Forevermark diamonds at the heart of each piece. Set in 18k yellow, white and rose gold, this exquisite mid-priced range includes rings, pendants and earrings.

THE CIRCLE OF TRUST: The Circle of Trust is a symbol of love and timelessness that features a radiant selection of bangles in a variety of designs. Each diamond in the bangles of this collection carries the Forevermark promise, with a unique inscription number and identification card bearing the assurance of it being rare and responsibly sourced.

THE RED CARPET COLLECTION: This year, Forevermark diamonds dazzled at the 89th Annual Academy Awards. Stars such as Octavia Spencer, Janelle Monáe, Halle Berry and Giuliana Rancic chose striking diamond statement pieces including swooping diamond earrings, stacked bracelets and multiple rings created by Forevermark’s exclusive partners.

TRENDS 2017: The Forum also displayed the latest trends for 2017. The Spring-Summer trends were Nature’s Beauty and Now & Forever while the Autumn-Winter trends were Geo-Deco and Declarations.

Additionally, this year, a special study, ‘Why Divya Doesn’t Wear Diamonds’ was conducted across India and the results were shared with the participants at the forum, highlighting the needs, aspirations and consumer trends around the modern Indian woman. Forevermark also showcased some great insights and tools to drive engagement and establish leadership over digital media.

In today’s dynamic social-economic environment, being able to adapt to ever changing tastes and markets is a crucial element of the industry. Forevermark engaged the expertise of an Italian expert to gain insights on Change Management, which they presented to their partners at the Forum.

The 2017 Forevermark Forum was attended by key industry influencers, retail chain owners and independent jewelers from the industry. C Krishniah Chetty & Sons, Hazoorilal, Joyalukkas, Mahesh Notandass, Malabar Gold & Diamonds, Senco Gold & Diamonds, TBZ – The Original and Vummidi Bangaru Jewellers were some of the leading jewelers from across India present at the platform.