Diamond brand ended year with 1,542 retail stores across 34 markets.
Diamond jewellery brand Forevermark saw impressive growth in 2014, ending the year with 1,542 retail stores in its portfolio across 34 markets – an increase of 20% compared to 2013.
The 2014 results were driven primarily by demand in the US, with the growing middle class in India and China also helping to boost sales internationally.
Stephen Lussier, Forevermark chief executive officer, commented: “With Forevermark achieving sales at a retail value of around $750million (£486.4m) a year, our retail partners and consumers are really embracing the brand.”
Lussier continued: “Consumer preference for branded diamonds and diamond jewellery is set to continue to increase in 2015. As Forevermark’s distinctive brand proposition addresses confidence issues on quality and integrity, and provides the assurances that today’s consumers are demanding from their high value purchases, we are well positioned to succeed as a leading force in the category.”
Forevermark’s licensee program saw the brand expand into Botswana and Turkey. Since the Turkish launch with exclusive partner Zen Diamond in May last year, Forevermark diamonds are already available in 42 of their stores, with more openings planned in 2015. In addition, Middle East partner, Damas opened a new store in Saudi Arabia selling Forevermark.
The ongoing success of Forevermark has also led to significant growth at The Forevermark Diamond Institute. In 2014, grading and inscriptions increased by a significant 67% and 47% respectively, year on year, and a milestone was reached when the one millionth diamond was inscribed with the Forevermark unique inscription number and icon.
In the last quarter, a new inscription and grading facility in Surat, India began operations, with 100 newly trained staff. It is expected to have the same capacity as the Antwerp facility by the end of 2017.
Marketing and brand awareness was also a top focus in 2014, with fresh campaigns and an overhauled website proving popular among consumers.
Lussier concluded: “We have set ourselves ambitious targets for 2015 and continue our plans to expand further in existing and new markets. We look forward to working with our partners around the world to maximise what is a real opportunity for Forevermark in the year ahead.”