With this year’s festivity in full swing, De Beers Forevermark, the leading and trusted diamond brand, is confident of a strong sales volume this year, particularly from South India which is the top-performing and largest market in the country for the brand. The diamond major is expecting around 10-12 percent double-digit growth this season with the strong consumer sentiment and the positive outlook of the retail industry seen over the last few months.
The diamond brand kicked off the festive season this year with the launch of three new contemporary designs in the Forevermark Avaanti collection. The new set of rings, pendants, and earrings feature a genuine and natural diamond, set in 18K yellow, white, or rose gold.
Amit Pratihari, VP De Beers Forevermark said, “There is a lot of positive sentiment in the industry as the festive spirits resumed this year in full fervor after a two-year break. We are already seeing an increase in consumer spending, particularly for jewellery, and Diamonds are most sought after owing to their inherent preciousness. This has also got to do with the shift in consumer buying pattern too as they are now more inclined to purchase items that holds meaning and value. South India is our biggest market and has been the key driver for the growth of our brand which contributes to around 40 to 45 percent of volume. With this growth outlook and strong demand, we are confident that this festive and wedding season is going to be one of the strongest.”
Suraj Shantakumar, Director, Kirtilal Kalidas Jewellery, Hyderabad, said, "The festive season has always been an auspicious time to buy jewellery. There has been a remarkable improvement in consumer sentiment, and we are still witnessing a pent-up demand with consumers making emotional purchases. Now, we see the growing trend of self-purchase among modern independent women, as jewellery, particularly diamonds, has become a visible symbol of their self-expression and independence. The festive season is a wonderful opportunity for the jewellery industry to capture a big slice of consumer spending. Consumers would want to purchase valuable and niche products that bring in bonding too, especially in the context of a festive season".
Princeson Jose, Prince Gold, and Diamonds India Pvt Ltd, Chennai, said, “With greater mobility and uptick in consumer demand, we are optimistic about this year’s festive sales. We are seeing huge demand across all our designs, particularly in diamond jewellery as it complements both the worlds of traditional and western outfits. This demand is seen across all consumer segments. Since this is also the season of gifting, it is the occasion for celebrating love and showing unconditional affection to the special people in one’s life and people now are more inclined to purchase gifts that are meaningful like jewellery. Compared to the last two years, public celebrations are back with a bang, and this has increased consumer spending, particularly on jewellery.”
Pratap Madhukar Kamath, MD, Abaran timeless Jewellery Pvt Ltd, Bangalore, said, “Festive spirits have resumed this year in full fervor after a two-year break. We see demand for minimalistic and everyday wear jewellery, particularly in solitaires like diamonds as the sentiment has now shifted towards wearing diamonds for any occasion including the festive season. There is also increased demand from the millennials and Gen-Z, as they prefer jewellery to complement their personality and define their individual style statement. With the rise in footfalls, owing to the fully operational festive season, we are confident, that this year is going to be one of the strongest in recent times.”
De Beers Forevermark, which has already witnessed robust growth with a strong presence in the South Indian Market, is also penetrating into Tier ll and Tier lll locations that have immense growth potential. The brand also ensures to partner with select authorized retailers who share the same brand ethos as De Beers Forevermark.