Belonging to the De Beers group, the diamond brand Forevermark expects that in 3-4 years India will account for about 30% of its total sales revenue.
Currently, Forevermark's sales in India are around 15% of the total global sales.
IdexOnline portal quoted the statement of Forevermark CEO Stephen Lussier that despite the fall of the Indian economy, last year sales by volume and in value terms jumped by 40%. According to him, the growth is due to the fact that the Indians began to consider diamonds as an alternative object of investment.
Lussier noted that prices for Forevermark diamonds are growing, and last year they increased by 15%, and this year it is expected that the brand's sales will be about 50,000 diamonds.
"Together with the changing role of Indian women, their buying preferences are changing," said Lussier. "Now women are looking to buy more modern jewelry that fits any clothing, and it is here that diamonds play an important role as a universal product."
The Forevermark brand entered the Indian market three years ago, and demand for branded diamonds in small Indian cities is expected to grow soon. Forevermark products are currently available in 19 cities in India.