Welcoming new retail partners

Forevermark is present in India for the past 3 years and has partnered with renowned retailers across 22 cities. Since taking on the role of Global CEO, Forevermark, Stephen Lussier has seen the brand grow to 300 doors across Asia and reach over $150 million in retail sales. To know more about the global outlook for 2016 and plans for India, Kunjal Karaniya spoke to him.

Tell us about the Importance of India in the global context for Forevermark

India is the third diamond largest market after America and China. We certainly see great opportunities in India. The macroeconomic growth that is forecast for the Indian market will lift more and more people into the diamond consumer market. People are increasingly interested in diamonds in gold jewellery – diamonds’ share of the jewellery market is on the increase.

There is a particular drive around building Forevermark – a very successful brand, and building and strengthening our network with jewellers across India.

What is your take on the current global diamond market and outlook for the year 2016 in light of recent developments?

A positive holiday season in the US from a retail perspective, low levels of rough diamond purchases by the midstream late in 2015, and a subsequent reduction in manufacturing have seen polished diamond stocks start to pull through the pipeline.

This has resulted in firmer polished prices.

Retailers restocking after the end of year holiday season are supporting demand for polished diamonds and, in turn, we are seeing improved demand from the midstream for rough diamonds.

These are very positive signs but we remain mindful of the need for a cautious approach as the recovery continues.

What are the new marketing strategies adopted and fresh updates?

Forevermark is supporting its retail partners through different key marketing initiatives. Last year, we re-launched the slogan ‘A diamond is forever’ with a new advertising campaign, which had a positive effect on consumers, driving additional diamond sales.

We have also developed new exclusive collections with our retail partners. Capricci, The Nose Pin Collection is one of our highest selling collection and we are pleased that it has been that well received by consumers.

In the upcoming months, we will also launch Forevermark trend reports, to give our retail partner further inspiration on jewellery designs with Forevermark diamonds. Forevermark collections as MilleMoi, Encordia and Cornerstones remain some of our best-selling diamond jewellery as they offer classic and elegant pieces of diamond jewellery.

This year, Forevermark will also launch two collections designed by key fashion designers. We are pleased to have developed diamond jewellery collections with New York based fashion designer Bibhu Mohapatra and with India’s favourite bridal Designer Sabyasachi. Both designers are renowned for their creative skills.

We plan to continue to extend our presence across India by increasing the number of doors we are present in but also by welcoming new Forevermark retail partners.