Forevermark 2014 Retail Reach up 20%; Sales ~$750 Million
March 01, 15
(IDEX Online News) – Forevermark, the diamond brand from De Beers, has announced that its retail reach increased 20 percent over 2013. The brand ended 2014 with a presence in 1,542 retail stores in 34 markets and saw sales in the region of $750 million.
The company said the results were mainly driven by demand in the US, along with the increased diamond consumption of the growing middle class in India and China.
The brand expanded into Botswana and Turkey though its licensee program. Forevermark diamonds are already available in 42 Zen Diamond stores in Turkey. In addition, Middle East partner, Damas opened a new store in Saudi Arabia selling Forevermark.
In 2014, grading and inscriptions increased by 67 percent and 47 percent respectively, year-over-year. In the last quarter, a new inscription and grading facility in Surat, India began operations ahead of schedule and is expected to have the same capacity as Forevermark’s Antwerp facility by the end of 2017.