Forevermark opens 9th India store, targets ~100 outlets and $100M revenue by 2030
De Beers-owned Forevermark opened its ninth India store in Bengaluru, betting on natural-diamond retail expansion across Bengaluru, Hyderabad, Chennai and Kochi. It plans ~100 outlets and $100M revenue in four years, even as India's ₹49,700 crore diamond market faces a $300-350M lab-grown surge.
What happened
De Beers-owned Forevermark opened its ninth India store in Bengaluru, targeting ~100 outlets and $100M revenue in four years, betting on natural-diamond retail
Key facts
- 9th store
- ~100 outlets planned
- $100 million revenue target
- market ₹49,700 crore (2024)
- ₹1.5 trillion by 2030
- 12% CAGR
- lab-grown market $300-350M (2024)
Why this matters
De Beers' India retail push signals openings for real-estate, franchise, and supply partnerships—but also invites lab-grown competitors and potential consolidation plays in the diamond segment.
What to watch
- Store-count cadence: are openings tracking to ~25/year pace needed for 100 by 2030
- Lab-grown market share crossing 20-25% of India retail diamond volume
- De Beers global rough-diamond pricing and inventory signals
- Competitor natural-diamond brand expansion or exits in southern India
- Consumer sentiment shift in bridal segment toward lab-grown acceptance
- De Beers doubles down on 'natural provenance' certification and traceability marketing to differentiate from lab-grown
- Franchise/shop-in-shop tie-ups with regional jewellery chains to hit store count fast
- Targeted bridal and festive campaigns in Tier-1 southern metros
- Possible price/margin defense as lab-grown undercuts natural stone retail prices