De Beers Forevermark to expand footprint in Hyderabad
We are exploring two new boutique stores in Hyderabad on a franchise model with the leading jewellers in the city. We currently have 10 boutique stores in the country and the intention is to have 30 exclusive stores by the end of 2022.
Hyderabad: Diamond brand De Beers Forevermark is expanding its footprint in Hyderabad. The brand, which currently operates one boutique diamond jewellery store in Hyderabad, is actively looking to add two more stores in the city in the next 4-6 months.
Sachin Jain, MD, De Beers India, told Telangana Today in an exclusive interview, “We are exploring two new boutique stores in Hyderabad on a franchise model with the leading jewellers in the city. We currently have 10 boutique stores in the country and the intention is to have 30 exclusive stores by the end of 2022. So, work for that is already on and we are looking at retail spaces in prime locations, partners, and all that this year.”
“Our investment primarily goes into offering 360-degree support, including national and local marketing, visual merchandising, exclusive product design, sales training and retail sales support to all our partners. Our marketing strategies in India have been very region and consumer-specific and have worked well for the brand. We will continue to explore interesting and innovative marketing strategies for De Beers Forevermark in India in the future as well,” he added.
Collaboration with retailers
De Beers Forevermark along with Kirtilals launched its first boutique store in Hyderabad in 2019 at Forum Sujana Mall, which exclusively carries a wide variety of jewellery and loose diamonds. The synergy of these two brands has brought collaboration over the past few years to offer hallmark diamond jewellery.
Jain further explained, “We only collaborate with retailers who are not only passionate about diamonds, but also meet the brand’s stringent criteria of business, social and environmental integrity. With our boutique stores, we aim to provide a contemporary retail experience to reflect the needs of the modern Indian woman, showcasing some of the best collections the brand has to offer.”
Southern focus
While the brand currently has 275 doors (stores owned by jewellers) in India spread over 60 markets, it has around 100 doors in south India. The brand also has ten exclusive boutique stores in the country and plans to increase this to 30 by next year.
“Of the proposed 20 stores, five will come in southern India alone. The company is now focused on consolidation in the south as we see immense potential in the growing number of metros, tier-2 and tier-3 cities in the region, where we partner with select authorised retailers who share the same brand ethos as De Beers Forevermark,” Jain informed.
The company’s research has shown that there is an increasing demand for its diamonds in south India and that consumers in the region value the diamond’s quality over size, he further added.
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