Forevermark eyes $100 mn India business by 2030

Forevermark, the diamond jewellery brand under the De Beers Group, has officially entered the Indian market as a standalone jewellery brand. The newly launched identity marks a strategic shift for the company. The debut marketing campaign ‘This One’s For Me’, which was launched today, targets the evolving Indian consumer.

The campaign features a cinematic film that explores a woman’s many facets. It reframes diamonds as companions on her personal journey rather than as mere adornment. The film includes a voiceover challenging conventional perceptions of identity. “So, you think you know me? Is that all that’s visible of me? Let’s turn the facet, shift the perspective slightly. Others see what they see, but this one’s for me.”

Shweta Harit, Global CEO of Forevermark, said the campaign reflects a fundamental shift in consumer behaviour. “We’re seeing a clear evolution in how Indian consumers perceive and purchase diamonds. Self-purchase is growing significantly and diamonds are no longer reserved only for weddings or milestone occasions. They are becoming an everyday expression of individuality and style.”

She added that another strong trend is shaping design choices. “Consumers are embracing both global aesthetics and local artistry, leading to a dynamic, hybrid design preference that defines modern luxury.”

Sandrine Conseiller, Global CEO of De Beers Group, also highlighted the changing trends. “We’re seeing a clear evolution in how Indian consumers perceive and purchase diamonds. Self-purchase is growing significantly and diamonds are no longer reserved only for weddings or milestone occasions. They are becoming an everyday expression of individuality and style. Another strong trend is the fusion of international sensibilities with Indian craftsmanship.”

Harit said the India entry is anchored around empowering personal choice. “What excites me most is focusing on self-purchase. So, it’s for us to buy for ourselves rather than waiting for a man or a wedding. I find that a very interesting opportunity.”

She explained that the campaign’s insight came from conversations with women. “Everyone will say the modern Indian consumer is well travelled, well heeled, and knows what she wants. But that just feels like something all brands can say. We spent a lot of time trying to understand where the real tension lies. Some people said my pat on the back happened when I went back to work. Or someone said my pat on the back happened when I decided never to work again. But that is not celebrated. I feel that’s where I like the brand being anchored because it makes us speak to her much better than the generic festive season.”

Harit said Forevermark’s jewellery combines luxury cues with daily wearability. “The jewellery is international. Even the inside of this ring, if you put your finger through it, you will find it’s very soft on the inside. It’s trying to bring those luxury cues, something that you can wear every day. You will not get an extra ring your skin comes on. Designs are absolutely international, but for every day. Not for something that you keep in the locker.”

Both Harit and Conseiller clarified that Forevermark is not an Italian brand but an international brand with its design studio in Milan. “We are not an Italian brand. We are an international diamond brand with our design studio based in Milan. The Milan connection brings a sense of understated elegance and timeless design to our jewellery,” said Conseiller.

“At Forevermark, it’s always diamond-first. We handpick each diamond for its beauty, brilliance and sparkle and the design simply enhances what’s already exceptional. Indian consumers appreciate this authenticity as they seek meaning and craftsmanship in what they buy, much like our global audience, but with a deeper emotional connection to the diamond itself,” she added.

Harit said India presents both potential and complexity. “India is always a challenge between being international but accessible, being exclusive but accessible. We will learn. The jewellery sector is getting more and more organised. It’s still only 40% organised so there’s a long way to go. And diamonds today are less than 10% penetration. From a potential perspective, there is a lot of opportunity and we have to take the steps properly to actually get there.”

On marketing and retail, Conseiller said the approach will be more integrated than expansive. It’s not about a jump in marketing spends, rather it’s about a shift in strategy. 

“With our own stores and e-commerce channel now live, our investments are more focused on building a connected retail ecosystem. We have always invested in growing the diamond category in India, and now our spends will align with the pace of store expansion and business growth. It’s a more integrated approach focused on creating long-term brand and category value rather than short-term bursts,” Conseiller added.

Harit also revealed the brand’s growth ambition for India. “What’s the ultimate goal? Forevermark as a brand in India, I want to be $100 million by 2030,” she said.

The brand plans to combine offline retail with e-commerce, influencer collaborations, and traditional media. The initial focus will be on North and West India. The strategy targets women who value authenticity, craftsmanship, and comfort in daily wear, a growing demographic shaping the next chapter of India’s diamond story.

With diamond penetration under 10% and the jewellery sector only 40% organised, Forevermark sees a long runway ahead. But shifting consumer loyalty from local jewellers to an international brand, Harit concluded, will take time and trust.