Forevermark, a De Beers Group subsidiary producing top-end polished diamonds, is spreading its network services around the world. Its branding program was created to offer customers and the jewelry industry a safe and inexpensive way to identify certified natural diamonds. The brand’s diamonds are awarded their "Seal of Excellence" by the Forevermark Diamond Institute in Antwerp, Belgium. Our correspondent in Brussels asked Stephen Lussier, CEO of Forevermark, to share his view on how the brand is progressing.
How successful has the Forevermark brand been since its inception?
Since launching in 2008, Forevermark has expanded rapidly from the launch markets of China, Hong Kong and Japan, to India, the U.S,. Singapore, Mexico and the Caribbean, Malaysia, South Africa and the U.K.
We’re on track to have Forevermark diamonds available from around 1000 doors globally by the end of this year – a milestone that we’re pleased to have been able to reach so soon after launch.
What sort of challenges have you been facing?
Inevitably, launching during the economic downturn proved challenging. However we were confident that the offer of a diamond brand with a promise from the De Beers Group would be one welcomed by consumers. Buying a diamond, especially the first one, is no easy task. Forevermark makes this simpler and has therefore proved to be a trusted and popular choice.
What marketing programmes for loose diamonds and diamond jewelry can be considered successful, and why?
Obviously the De Beers’ ‘A diamond is forever’ campaign was, and remains to this day iconic. Personally, I feel that campaigns that harness the emotional power of diamonds, and link them to the profound moments in life are the ones that endure. Forevermark’s integrated marketing programme is based on ‘promise’. This brings to life the brand promise that each and every Forevermark diamond is beautiful, rare and responsibly sourced, but crucially also links our diamonds to the ‘promise’ moments in life – whether that’s a bridal, gifting or a self-reward purchase.
Is it necessary or beneficial to promote diamonds and diamond jewelry through advertising?
Diamonds are treasures of nature, they have been revered for their beauty and their mystical allure for centuries. Advertising is quite simply the modern way of continuing to share their appeal. As part of the De Beers Group, Forevermark firmly believes in helping to convey the diamond dream, not only through advertising but through fully integrated marketing campaigns encompassing PR, Digital Marketing and Visual Merchandising.
Is there any prospect for generic advertising these days?
Forevermark is the sole focus of consumer marketing within the De Beers Group.
Looking at the demography of diamond buyers, which gender and age groups can you say are the major consumers of gems?
It varies per market. India and China are the fastest growing markets at present and it’s interesting to see how it’s the younger consumers who are mainly driving this expansion.
What is the level of demand for the Forevermark brand in India and China?
We’ve seen, and continue to see a great consumer response to the brand in these markets. We knew pre-launch that consumers were looking for more with their branded jewellery, specifically the magic and mystique inherent to powerful brands. With the unique inscription on the table of each Forevermark diamond, we were confident that consumers would have faith in the promise we were making, something that has held true for us in these exciting markets.
Forevermark has operations in South Africa. Do you have plans to expand into other African countries?
At present, while we’re concentrating on consolidating the rapid growth we have seen in our existing markets, we would very much like to see our partners develop opportunities in other African markets such as Botswana and Namibia.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
