De Beers has announced plans to open 100 Forevermark stores across India by 2030, as the company seeks to expand its presence in the world’s second-largest market for natural diamond jewellery, following the United States.
The diamond giant expects demand in India, which currently stands at approximately $10 billion, to double over the next five years.
In 2025 alone, De Beers plans to open 15 new Forevermark outlets in key cities such as Delhi and Mumbai. By 2030, the company aims to have a total of 100 stores operating in 40 cities nationwide.
Al Cook, Chief Executive Officer of De Beers, is currently visiting India on a three-day tour. Speaking about the company’s strategy, he said, “We’re very confident in the future of India. It became the second-largest market for natural diamond jewellery in the world last year, surpassing China.”
Cook noted that India’s demand for natural diamonds has grown steadily in recent years. “We’ve seen double-digit growth year after year. Currently, natural diamond demand in India is increasing at 12 percent annually. We believe it will double by 2030,” he added.
To support this growth, De Beers has committed to increasing its marketing investment in India. The company confirmed that its 2025 marketing budget for natural diamonds in India will be the highest it has allocated in the past decade.
The move underscores De Beers’ long-term commitment to India’s luxury jewellery market and its confidence in the country’s economic and consumer growth.
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