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Forevermark Sales Reach $750M Annually

Feb 27, 2015 8:59 AM   By Jeff Miller
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RAPAPORT... The Forevermark diamond brand confirmed that it experienced strong growth in 2014 with the retail value of sales topping out around $750 million, according to  Stephen Lussier, Forevermark's CEO. In addition, Forevermark's store presence increased 20 percent year on year to 1,542 locations. Demand for the branded diamonds was strong in the U.S. and increasingly higher in India and China due to these countries'  emerging middle classes.

Lussier said,  “Consumer preference for branded diamonds and diamond jewelry is set to continue to increase in 2015. As Forevermark’s distinctive brand proposition addresses confidence issues on quality and integrity, and provides the assurances that today’s consumers are demanding from their high-value purchases, we are well positioned to succeed as a leading force in the category.” 

Forevermark’s licensee program expanded in Turkey during the year and just since the launch in May, the brand is now available in 42 stores through an exclusive partnership with Zen Diamond. In addition, Middle East partner Damas opened a new store in Saudi Arabia that sells Forevermark diamonds. The brand also launched in Botswana.

The Forevermark Diamond Institute inscribed its one millionth diamond in 2014, while grading of stones increased 67 percent year on year and inscriptions rose 47 percent, according to the group.

Forevermark unveiled a new marketing campaign, aiming to drive the belief in "the power of a promise" and that only a Forevermark diamond conveys the most important promises in life. The brand relaunched its website to immerse consumers in Forevermark’s story. 

Lussier said,  “We have set ourselves ambitious targets for 2015 and continue our plans to expand further in existing and new markets. We look forward to working with our partners around the world to maximize what is a real opportunity for Forevermark in the year ahead.”



 

Tags: branding, De Beers, diamonds, Forevermark, Jeff Miller, Jewelry, retail
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