De Beers to launch affordable range of ‘Forevermark’ jewellery in India

De Beers is planning to introduce its niche ‘Forevermark’ brand on a large scale in India in December 2010 by creating a more affordable line of jewellery targeted at the ‘middle income’ segment. Till now the high-end 'Forevermark' jewellery comprised stones of 1.5-2 carats mainly for the high net worth individuals.

‘Forevermark’ was introduced by De Beers as an exclusive range of diamonds, inscribed with the brand name and a unique identification number. Less than 1 percent of the world's diamonds are eligible to be the ‘Forevermark’ diamonds, which are crafted by a select group of diamantaires and sold by select jewellers, globally. Currently the Forevermark branded jewellery is available all over the world in1.5-2 carat diamonds, targeting high net worth individuals.

The company is developing a range of diamond jewellery with the “Forevermark” diamonds set in 18-21 karat gold, with price points starting from Rs.10,000-12,000. They are expecting a high volume sales, and will be competing with existing diamond jewellery brands most of which are in similar price segments, reports say.

De Beers is preparing a Rs 100 crore marketing plan for this initiative and is looking at marketing and production alliances. It cites a huge growth potential in the Indian market, which is already showing signs of double-digit growth.