Forevermark Becoming India-Focused Jewelry Brand
By Rob Bates | March 26, 2024
"De Beers is pulling the plug on any Forevermark activities in the United States, as it transforms the loose diamond brand into a jewelry line focused on the Indian market.
“From January 2026, Forevermark will [become] a jewelry brand,” said a letter to Forevermark partners signed by Sandrine Conseiller (pictured), who became CEO of De Beers Brands last October. “We will initially look to develop the new model in India, where we expect the commercial potential to be greatest. After we have evolved the proposition in India, we will look at the potential opportunities for the refocused Forevermark brand in other consumer markets, alongside other retail propositions that we continue to develop.”
Shweta Harit, a veteran marketer who is currently chief commercial officer for breast-pump manufacturer Elvie, will oversee the Forevermark repositioning in her new role as the brand’s global senior vice president, the letter said.
During the changeover, Forevermark will move away from using the De Beers name, which was affixed to the brand in 2021.
Forevermark’s future has been an open question for some time, with executives repeatedly telling anxious retailers and manufacturers that “all options” were on the table. Sources said the decision about Forevermark grew out of De Beers’ ongoing strategic review, which could involve trimming as much as $100 million from its bottom line.
In recent months, De Beers has increasingly embraced “category marketing” for natural diamonds, in response to weak gem sales. The diamond giant plans to roll out another generic campaign later this year, following the “Seize the Day” advertising it ran in 2023.
Ironically, when De Beers first brought Forevermark to the United States in 2010, it was a sign that the post-cartel company was pivoting toward promoting its own products rather than the natural diamond category as a whole. Now, with natural diamond sales sputtering, De Beers seems to be pivoting back.
“De Beers remains wholly committed to ... "
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