Forevermark Targets 100 India Stores in Four Years

(IDEX Online) - Forevermark, the diamond jewelry brand owned by De Beers, plans to open 100 showrooms across India within four years, aiming for annual revenue of 1,000 crore rupees ($120 million).

"India is an extremely important market for Forevermark, and that is why we have set up this entire business with clear investments and an aggressive growth mindset," Mallikarjuna Reddy Yarabolu, managing director of Forevermark, De Beers India, told IndiaRetailing in an exclusive interview.

The brand currently operates around 10 stores in India, with plans to reach 20 stores by December 2026 before accelerating toward the 100-store target.

This aligns with Forevermark's previously announced goal of opening 25 global stores in India by the end of 2026 and 100 by 2030, as reported by IDEX Online in January.

Forevermark sells through 4,200 retail outlets globally, but the company-led standalone store concept is being tested exclusively in India.

The jewelry is designed in Milan, with diamonds sourced from De Beers mines, cut and polished in Surat, and converted into finished pieces by around eight Indian manufacturers.

The company is pursuing an omnichannel model in India, with exclusive physical stores complemented by its online platform.

"The consumer journey often starts online, where they browse, explore and build confidence, before coming into the store to experience the jewellery," Reddy told IndiaRetailing.

Forevermark currently distinguishes between marquee stores, such as its 3,000 sq ft outlet in South Extension, Delhi, and its 5,000 sq ft flagship in Mumbai, which is the brand's largest global store.

Standard stores are generally planned at between 1,000 and 1,200 sq ft. The brand offers 16 collections in India across white, yellow and rose gold, with prices ranging from around $400 to $40,000 and beyond.

The company expects its first year of the current India business to generate around 100 crore rupees ($12 million) in revenue.

The longer-term target is to reach 1,000 crore rupees ($120 million) in turnover over the next four years.

"We are investing aggressively, but we also want to be rational in how we build every store and every partnership," Reddy said. "Our ambition is to make the India business so successful that it becomes a story we can take from India to the world in the next few years."

Pic courtesy Forevermark.