With the onset of the festive season, De Beers Forevermark is upbeat about the demand for diamonds in South India. The brand has already witnessed a huge response post the second wave and is looking forward to growing over 35-40 per cent over the next few months given.
The brand continues to grow in South India, the largest market for De Beers Forevermark in India. While the brand has 270 doors in India spread over 60 markets, it has around 100 doors in South India currently. The brand also has 10 exclusive boutique stores in India and plans to increase this to 30 by next year.
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.
Commenting on the festive season outlook, Sachin Jain, Managing Director, De Beers India, said:” 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 and expect to perform at 25-30% higher than 2019 which was our best year. The growth trajectory has been very strong for us in the past few years and we are hopeful it will continue. One of the key lessons the pandemic has taught us is to value that which is genuine and real.”
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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