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Magazine > Market Survey > News Content

Forevermark sales top $100 million

12/9/2009 10:06:57 PM

The Ponahalo Diamonds, which are 102.11 and 70.87 carats respectively, are the two largest Forevermark diamonds in the world. Forevermark exceeded $100 million in sales in its first year.

London--De Beers' branded diamond, the Forevermark, has garnered more than $100 million in retail sales within the first 12 months of its launch, Forevermark Chief Executive Officer Stephen Lussier announced earlier this week.

"The launch of Forevermark into China, Hong Kong and Japan has, despite the economic downturn, gathered strong momentum," Lussier said in a release. "Our partner jewelers have seen Forevermark, with its unique promise of quality, integrity and inspiration, create strong consumer interest, and this is even more relevant in these times of discerning luxury when consumers are taking more time in considering their luxury purchases."

Forevermark diamonds--which are defined by a unique identification number along with the Forevermark logo and must be at least 0.18 carat, SI2 clarity, J color and "good" cut--now are available in about 250 authorized jewelers across Asia, according to the release.

The branded stone also has its own print advertising and public relations campaign, consumer Web sites tailored with local language, and black-and-white branding and visual merchandising.

In addition to its penetration into the Asian market, this past year, the world's two largest Forevermark diamonds--The Ponahalo Diamonds, at 102.11 and 70.87 carats, respectively--sold at Christie's New York Jewels sale.

And De Beers unveiled the Forevermark Precious Collection, a grouping of stories and jewelry designs inspired by the word "precious" and comprising more than 1,000 carats.

Those who contributed to the collection include Alek Wek, UK Jeweller of the Year 2009, Shaun Leane and Theo Fennel. According to the release, the Precious Collection debuted in a number of high-profile exhibitions in Hong Kong, Beijing and Tokyo, attracting some 20,000 consumers.

In addition, the brand also unveiled its first retail design collection--The Forevermark Encordia Collection--which was inspired by the ancient Greek knot of Hercules, also known as the love knot.

The Hercules knot also was the inspiration for De Beers' Everlon Diamond Knot Collection, released in the U.S. market this fall.

"This has been an exciting first year for Forevermark, culminating in the launch of The Forevermark Encordia Collection. We look forward to building on our success with a further series of innovative marketing plans and initiatives to be launched in 2010," Forevermark Worldwide Marketing Director Dominic Brand said in the release.

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