Forevermark grows 36% in 2019
Global demand for diamonds has been affected by the geopolitical tension between the US and China
- Published 24.01.20, 1:18 AM
- Updated 24.01.20, 1:18 AM
- a min read
Forevermark, the diamond brand of DeBeers Group, has posted a 36 per cent growth in 2019 despite a challenging year for the industry.
Industry data shows there has been a 7.51 per cent decline in the import of rough diamond by volume between April and December 2019.
Global demand for diamonds has been affected by the geopolitical tension between the US and China, which are the leading diamond markets.
“It has been quite a challenging year for the industry overall. But for us, it has been a very good year. We have grown 36 per cent this year (by volume) in 2019 against 2018,” said Sachin Jain, president of Forevermark, at the launch of the second Forevermark Boutique store in the city in partnership with Indian Gems and Jewellery Creation.
The numbers were achieved by addressing the consumer’s preference for branded everyday jewellery along with a wider distribution network.