De Beers-owned retail brand Forevermark has registered a “strong” sales recovery at its stores in China since the outbreak of Covid-19, according to Rapaport.
Buyers in the populous Asian country are said to be returning to Forevermark’s stores “quicker” than projected and the brand’s jewellers have reported that the average sales price has remained stable, while the conversion rates in stores have doubled.
“In China, Forevermark’s business has come back more rapidly than anticipated, as shoppers have begun to return to luxury goods, with branded jewelry, and bridal in particular, leading the recovery,” the company was quoted as saying.
Image credit: Forevermark (Facebook)
Forevermark chief executive Nancy Liu said diamonds will continue to serve as a powerful symbol of strength, resilience, beauty although the coronavirus pandemic will alter consumer expectations forever.
Forevermark’s US president Charles Stanley said the company will offer an expanded bridal product range.
“Throughout this crisis, we are seeing the significance of brands being maintained as consumers look to purchase fewer, better things that represent timelessness and have enduring value,” he was quoted as saying.
“The new collections we are bringing to market provide a breadth of product to connect with consumers across bridal, self-purchase and holiday occasions.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
