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De Beers to focus on smaller cities in India for expansion

Press Trust of India  |  New Delhi 

Global producer is looking to partner in smaller cities to boost sales which it claims grew at 100 per cent last year.

The company sells its jewellery through

250 partnered stores in the country under the brand 'Forevermark'.

"There is a strong appetite for diamonds in smaller cities. We plan to increase stores gradually in those cities by partnering local retailers," Forevermark Group of Companies told

Sales during January-June, 2018 remained robust and the overall sales volumes may double as compared to the last year, he said.

"We are doing much better with our brand. We had 100 per cent growth in 2017. In 2018, we will double again," he said adding that the Forevermark brand has 30 per cent market share in

The company is not only investing in marketing of its brand but also organising special events to equip partners with the new innovations, latest technology and consumer insights to help them leverage their better and stay ahead of the consumer curve, he added.

Stating that the fundamentals of are strong worldwide, Lussier said the sale of Forevermark brand jewellery grew on a monthly basis notwithstanding the fraud by diamantaire

Diamond prices are stable globally though prices of polished ones are on the rise when compared with rough diamonds, he added.

sources diamonds from its seven mines in and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, July 15 2018. 11:35 IST