Forevermark opens 1st flagship store in Delhi, plans 100 outlets by 2030

Forevermark targets metros and tier II cities with affordable luxury focus

De Beers Group is strengthening its presence in India, with the launch of its first Forevermark jewellery store in Delhi on Wednesday, marking a significant shift by repositioning the luxury diamond brand as a standalone jewellery line.

 

“This is a very different model and a reset in many ways. We have our name on the door now, which allows us to provide a seamless experience to customers across our stores over the country,” said Shweta Harit, chief executive officer, Forevermark, and global senior vice-president at De Beers Group.

 

The brand has outlined an aggressive growth path, going beyond the metro into Tier-I and Tier-II cities. With plans to reach 100 stores by 2030 and clock a revenue of $100 million in the same time, the brand aims to open 15 stores by March 2026.

 

“We will do this by strengthening our ecommerce vertical, which will allow us to penetrate deeper into the country. We hope that it can be 10-12 per cent of our overall business in a few years,” Harit added.

 

With the first store opening in Delhi’s famed South Ex market, the brand plans to travel to metros like Mumbai, and Tier-II cities like Patna, Mangaluru, and Chandigarh.

 

“The Indian market has large jewellery retailer chains and maisons from the West offering luxury jewellery. There is a space in the Indian market for a brand like Forevermark – international but rooted in Indianness,” said Sandrine Conseiller, chief executive officer - brands and diamond desirability, De Beers Group.

 

Priced between ₹1 lakh to ₹1.5 lakh and online collections starting below ₹50,000, Forevermark is positioning itself as an “affordable luxury” brand.

 

Amid the rising competition from the rise of lab grown diamonds, the brand is focused on offering authenticity to customers.

 

“The fact is that natural and lab grown diamonds are different and it is our responsibility to tell the customer that. Natural diamonds are authentic, unique and rare. Apart from that, they are enduring in value, and that’s what we are offering,” Conseiller added.

 

“We have seen year-on-year double-digit rises in consumer demand for natural diamond jewellery in India,” she added, highlighting India’s importance for the brand.

 

Meanwhile, amid the rise of lower caratage jewellery, Harit said, the brand will stick to 18 karat gold, adding, “It’s not our positioning.”