Forevermark opens 9th India store in Bengaluru, targets 100 outlets and $100M revenue by 2030
De Beers' Forevermark is doubling down on natural-diamond retail in India, opening its 9th store in Bengaluru and planning ~100 outlets across cities like Hyderabad, Chennai and Kochi. The bet: capture a ₹49,700 crore market growing to ₹1.5 trillion by 2030, even as lab-grown diamonds ($300-350M in 2024) surge.
What happened
De Beers' Forevermark is expanding India retail, opening its 9th store in Bengaluru and targeting ~100 outlets and $100M revenue in four years, betting on
Key facts
- 9th store
- 100 outlets planned
- $100 million revenue target
- market ₹49,700 crore in 2024
- ₹1.5 trillion by 2030
- lab-grown market $300-350 million 2024
- 12% CAGR
Why this matters
De Beers' aggressive India expansion signals partnership, franchise, or acquisition openings in regional jewellery retail as it races to lock 100 outlets over four years.
What to watch
- Store count trajectory vs 100-target milestones (per-year additions)
- Lab-grown vs natural price differential and consumer mix shift
- Same-store revenue and average ticket size disclosures
- De Beers group natural-diamond supply/pricing commentary
- Gold price moves reshaping jewellery wallet allocation
- Competitor natural-diamond store expansion announcements
- Sign regional franchise/JV partners in Hyderabad, Chennai, Kochi to fund rapid store rollout
- Ramp provenance/authentication marketing (inscription, De Beers heritage) to differentiate from lab-grown
- Launch tiered pricing and bridal-focused collections to defend mid-market share
- Rivals (Tanishq, De Beers-licensed peers, lab-grown brands like Aukera/Fiona) accelerate competing store openings