A press meet was organized by the Diamond Trading Corporation (DTC), the marketing arm of De Beers to announce the launch of their umbrella brand, Forevermark, in India recently. It was chaired by MD, DTC, Varda Shine.
This brand targets all people, young and old and the signature line is to be �gift a diamond�. The receiver could be anyone you love be it your grandmother or your sister.
This is a marked departure from the traditional wisdom of buying precious as a form of investment which Shine emphasized was commodification of love. She, however, added that the price of diamonds were far more stable than even gold over the past 30 years.
The company also announced that it would permit its Indian sightholders to defer purchasing to offer (ITOs) till after Diwali in November. This, according to Shine, was meant to alleviate the suffering of those affected by the Surat floods.
Shine dismissed talks of diamond sector facing tough times in the US saying that the area showed an overall growth between 5 to 7 per cent. Emphasizing that India and China were the next big markets, she insisted that the future of diamonds was bright in these areas. The company will launch a limited run of the Forevermark brand first batch going to hundred odd celebrities taking into account their numerology and astrology consciousness � they will be permitted to choose the number that comes with the diamonds. Shine said that jewellery for men was an interesting area and she was hoping for a larger market in the area in this section in the coming years. She also said that the company is introducing diamonds set in yellow gold in India as the Indian buyer is partial to yellow gold. As time passes and with awareness they would make a shift from yellow gold to white and thereafter platinum.