De Beers Group is expanding its Forevermark diamond brand in India, aiming for ₹1,000 crore in annual revenue within five years. The company plans to grow its retail footprint to 100 stores to capture rising demand for natural diamonds, shifting focus away from lab-grown alternatives.
Forevermark, the luxury diamond jewellery brand owned by the De Beers Group, has outlined an aggressive growth strategy for the Indian market. The company intends to scale its presence to 100 stores nationwide over the next five years, aiming to reach a revenue milestone of ₹1,000 crore. This move marks a strategic shift for the parent company, which is prioritizing the natural diamond segment in response to evolving global consumer preferences.
Expanding the Retail Footprint
Currently operating nine outlets in India, the brand recently opened a store in Bengaluru and is set to add its tenth location shortly. The management plans to double this count to 20 by December 2026. This expansion aims to capture demand in both major metropolitan cities and emerging luxury markets, where consumers are increasingly seeking branded jewellery. To support this growth, the company is investing in an omnichannel strategy that integrates digital tools like virtual try-ons and WhatsApp-based commerce to bridge the gap between online discovery and physical store visits.
Strategic Shift Amid Industry Challenges
The decision to focus on India comes as the global diamond industry faces pressure from softening demand in key markets like China and the rising availability of cheaper, lab-grown diamonds. In early 2025, De Beers took the notable step of shutting down its own lab-grown diamond venture, Lightbox. This action signals a clear strategic pivot back to the core business of natural diamonds, which the company markets based on rarity and emotional value. While lab-grown diamond prices have experienced significant declines, the company maintains that natural diamonds remain a distinct product category in India, largely driven by their traditional association with major life events.
Investor Context and Market Dynamics
For investors monitoring the retail and luxury jewellery sector in India, this development highlights the competition for market share in the premium segment. While the jewellery market in India is highly fragmented, organized players continue to expand their reach through branded chains. The company’s growth plan will depend on its ability to effectively scale its physical presence while maintaining the brand's premium positioning against both local jewellers and other luxury international brands. A key monitorable for the company's progress will be the rate of store openings and the ability to convert growing consumer interest into consistent revenue growth amidst fluctuating consumer spending patterns in the luxury segment.