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Forevermark Holiday Sales Outperform Rest of Trade

Jan 19, 2017 9:45 AM   By Rapaport News
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RAPAPORT... Forevermark diamond sales in the U.S. jumped 6.4 percent during the holiday season as product launches and focused marketing campaigns paid off, De Beers chief executive officer Bruce Cleaver said.

Sales of the De Beers-owned brand added 7.6 percent in 2016, Cleaver told Forevermark partners at a speech in New York. The figures are based on a survey of a representative sample of Forevermark jewelers.

The performance of the Forevermark brand outpaced that of the wider U.S. jewelry industry in terms of sales growth and profitability for retailers, Cleaver (pictured) pointed out. Total jewelry sales edged up 0.7 percent in December and increased 0.4 percent in the full year, according to data from the MasterCard Spending Pulse cited by the executive. December sales growth at independent jewelers was 1.4 percent.

“Margins on Forevermark diamonds and diamond jewelry were four margin points higher than generic, reflecting your ability to achieve a premium with Forevermark and improve your profitability for the same invested dollars,” Cleaver told jewelers.

Forevermark’s growth comes on the back of several initiatives, including a responsible-sourcing campaign that drew a positive response from millennials and older, more affluent women, Cleaver explained. The company also expanded Forevermark inscriptions down to diamonds as small as 0.10 carats and started offering the possibility of buying a Forevermark diamond set in jewelry that is 100 percent approved by the brand. A campaign to promote two-stone jewelry also helped drive consumers into stores that sell Forevermark diamonds, Cleaver added.
Tags: Bruce Cleaver, De Beers, Forevermark, Jewelry, MasterCard Spending Pulse, Millennials, Rapaport News, retail
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