RAPAPORT... Sales of Forevermark jewelry rose 8% year on year in the US in 2018, according
to the brand’s owner, De Beers.
That growth is nearly double the 4.4% increase for the
jewelry industry as a whole, De Beers CEO Bruce Cleaver noted in a speech to stockists
in New York earlier this month.
Forevermark also reported a successful marketing campaign
for its Tribute collection, which, it said, reached 80% of the affluent consumers
it was targeting. As a result, more than 50% of jewelers that carry Forevermark
reported that consumers came into their stores during the holiday season asking
for the brand, Cleaver said.
The company plans to adjust its marketing, as consumers are
becoming more pragmatic in their approach to marriage, with fewer people buying
into the idea of “forever” as a romantic notion, Cleaver observed. Forevermark
will introduce a new bridal collection and accompanying campaign in the US in
the middle of the year to reflect that change. It will provide more details on the project at the
Centurion Jewelry Show later this month, the executive added.
Correction, January 15, 2019: Forevermark’s 8% sales growth in 2018 was for the US only, and not as implied by an earlier version of this article. In addition, Bruce Cleaver is CEO of De Beers, not of Forevermark.
Image: A Forevermark diamond engagement ring. (Forevermark)
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