De Beers sees strong demand in South India
De Beers Forevermark, a leading diamond brand, has witnessed a huge response from customers post the second wave.
image for illustrative purpose
Hyderabad De Beers Forevermark, a leading diamond brand, has witnessed a huge response from customers post the second wave, and compared to the pre-festive season consumption, it is looking forward to a growth of over 35-40 per cent over the next few months given the extended wedding season and pent-up demand coinciding with the timely easing of Covid-19 restrictions. The brand has 270 doors in India spread over 60 markets of which around 100 doors are in South India currently.
The company is now focused on consolidation in the South as it sees immense potential in the growing number of metros, tier-2 and tier-3 cities in the region, where it partners with select authorized retailers who share the same brand ethos as De Beers Forevermark. The company's research has shown that there is increasing demand for its natural, rare, beautiful and responsibly sourced diamonds in South India and that consumers here value the diamond's quality over size.
Sachin Jain, MD, De Beers India said: "People want to invest in luxurious products but ones that hold value and want an assurance of genuineness. The market will witness good growth in the upcoming festive and wedding season. While the year 2020 was a big setback due to the pandemic, we see the 2021 festive season to be the strongest one in a decade."
