De Beers Group to set up 130-140 retail outlets by 2013-end

De Beers Group

Forevermark, the diamond brand from De Beers Group of Companies, is planning to set up 130-140 retail outlets in the country by 2013-end, a top official today said.

"We intend to open 130-140 doors (retail outlets) by 2013 end," Sachin Jain, Managing Director, Forevermark India, told reporters here.

"We are a very young brand and are only one year old in Indian market. Our intention is to ensure that right diamond goes to the right consumer," he said.

At present, De beers has partnerships with 85 retailers in the country and is present in 13 cities. A change being seen in Indian consumer was that they were keen to have daily ware diamonds, he said.

The brand today announced its launch in Kerala by associating with Sunny Diamonds, known for its unique blend of traditional and contemporary designs, and unveiling a new collection.

Jain said the Forevermark is a diamond brand that will offer diamond purchasers, quality, integrity and inspiration.

Sunny Diamonds Managing Director P P Sunny also spoke.

In Kerala, the group will be looking for one or two more partnerships, Jain said.

De Beers controls 40 per cent of market share globally.

The jewellery business in India was worth Rs 1.20 lakh crore with diamond business accounting for 25 per cent business. It was growing fast, jain said.

In Bangalore, where Debeers and Central government were undertaking joint exploration of diamond since the past 9-10 years, there could be some production in the next 4-5 years, he said.

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