Is the goal of Lightbox to lower the price of lab-growns?
De Beers Group announced last week that Nancy Liu will become the new Forevermark CEO, stepping up from her current role as COO and taking over the day to day responsibility for the leading diamond brand. Stephen Lussier, Executive Vice-President of Consumer & Brands for De Beers Group, will continue to oversee the strategic role Forevermark plays within the Group’s brand portfolio as Forevermark Chairman. Lussier has been the brand’s CEO since 2009.
Forevermark, the diamond brand from De Beers Group, has announced the launch of Libert’aime by Forevermark, a new flagship store at HKRI Taikoo Hui in Shanghai, the Group writes in a press release. The opening marks the 1,000th Forevermark store in China, and comes as the brand celebrates its 10-year anniversary in the country.
De Beers Group's diamond jewelry endeavors are expanding to Saudi Arabia, in Moscow and its Forevermark brand will launch a new store in Indonesia as it continues on its global growth trajectory. De Beers Diamond Jewelers, the company's retail chain, will launch in capital city of Riyadh and is the brand’s first location in Saudi Arabia. JCK's Rob Bates explains that the two new stores in Russia’s capital are a new flagship on Petrovka Street and an intimate new store in Vremena Goda Mall.
Following its successful 2017, with 19% growth globally, and a solid start to 2018, De Beers has announced it plans to grow its presence of its Forevermark brand on the European market. Starting in Germany, where Forevermark will enter the market for the first time after signing with an exclusive licensee partner, De Beers is in advanced-stage discussions with potential partners in France and Italy. In Germany, Forevermark is partnering with Heinz Mayer, an Idar-Oberstein-based diamond jewelry specialist.
At the start of Positive Week, an initiative run by Positive Luxury to encourage environmental practises in business, Jo Blake, head of communications at De Beers' brand Forevermark, argued that the regulations that govern diamond mining allow the practice to be more eco-friendly and sustainable than synthetic diamonds, which are hardly regulated at all. “The [synthetics] industry is not particularly regulated in comparison to the natural diamond mining," she said.
In their recent addition to the Diamond Insight reports focusing on diamond jewelry demand and emerging trends, De Beers said it expected single women's acquisitions and spend to increase in 2017, leading to an increase in self-purchasing in non-bridal, discretionary jewelry categories, driving incremental demand above and beyond the fundamental driver of demand, namely, bridal diamond jewelry.
Forevermark diamond, part of the De Beers Group, announced it had inscribed its two millionth diamond, a 3.48 carat round brilliant which now bears the unique inscription of ‘2,000,000’. The diamond was mined, cut and polished in Namibia, then inscribed in the Forevermark Diamond Institute in Surat and will be set in a piece of jewelry at the Forevermark Design innovation Centre in Milan, Italy.
Forevermark, the diamond brand from the De Beers Group of Companies, has expanded to 2,000 retail outlets globally with the intention of expanding by an additional 10% this year, said CEO Stephen Lussier. The opening of the 2,000th Forevermark outlet, the Zen Diamond Anatolium store in the city of Bursa in Turkey, was followed by an announcement of a strong 2016. The brand spent US$85 million on consumer-facing marketing activities in 2016 to help stimulate global demand for diamond jewelry.
"As consumer expectations lean increasingly toward transparency, a brand’s dedication to sustainable business practices is more important than ever before," write Jen King for Luxury Daily in her report on the “Sustainability is the New Black: Consumers Expect Ethical Transparency” session at Luxury FirstLook: Time for Luxury 2.0 on Jan. 18. She writes, "Panelists from the jewelry, spirits and hospitality sectors discussed how their businesses approach corporate social responsibility.
Rob Bates of JCK has gathered his sources to put together an overview of holiday jewelry sales and says that, "The data shows a mixed, but not altogether downbeat, picture. This year, holiday results appear to be all over the map—some independents did great; others recorded a 1 to 2 percent gain, which has become standard for many since the recession. In a surprise, we also saw mixed results at the mass-market level as well." Below are a few notable takeways from the information JCK has gathered.
Forevermark, the diamond brand from The De Beers Group of Companies, unveiled The Forevermark Black Label Collection, a new generation of beautiful fancy shape diamond cuts creating an exceptional sparkle. The brand developed its own propitiatory technology that maximizes the brilliance of each stone, as a diamonds beauty is intrinsically related to the way light is refracted. The new technology allows for perfectly symmetrical cuts which are presumed to be unprecedented in accuracy in every shape.
Stephen Lussier, the CEO of De Beers brand Forevermark, said steps taken in the second half of 2015 after production was reduced had proved their effectiveness with a stronger performance for De Beers in 2016. "We are pretty optimistic," he told Bloomberg TV. "Demand is holding up but I would call it steady rather than booming in terms of consumer sales. This makes us cautious and careful about the second half of 2016 but the polished market has really been stable."
The diamond industry should stress the rarity and economic value of diamonds to retailers, writes Lisa Levinson, country manager, Forevermark UK and Ireland, in Professional Jeweller. "Diamond purchases evoke feelings of love, celebration, and euphoria. It is what sets them apart from other consumer categories. Being both expensive and emotionally significant, consumers want diamond jewelry to honor these attributes. They want rarity and they want reassurance. Diamond buyers want their diamond to be as unique as the feeling it portrays."
Following a strong 2015 that saw Indian demand for De Beers' jewelry brand Forevermark grow by 35%, the brand is expecting 30% growth in sales in India in 2016, according to an interview with the Forevermark CEO Stephen Lussier in The Economic Times. Lussier said they are being cautious with their estimates due to the jewelers strike earlier in the year. "We are expecting 30% growth in India this year on the back of stable diamond prices globally. We are the number one diamond brand in the country and we are focused on expanding deeper in the country through our jeweler partners.
Forevermark will be promoting its 'Ever Us' two-stone diamond collection in the fourth quarter aimed at driving consumers into jewelry stores during the holiday season. Forevermark executives said at the JCK Show they would focus on emotional, product-specific advertising. The campaign will include a nationally televised commercial featuring the Ever Us two-stone diamond collection, showing the bypass ring as well as other two-stone designs including earrings and pendants. In addition to the commercial, the Ever Us Forevermark ads also will run in digital and social media.
Forevermark CEO Stephen Lussier, who is also Chairman of the Diamond Producers Association (DPA), says De Beers won't be making available the famous 'A Diamond Is Forever' slogan for the DPA's use. Its marketing team is working hard on its own strong concepts, he says.
De Beers' Forevermark diamond brand has launched its first India-specific advertising campaign, featuring Capricci, a nose pin collection which has been released across all advertising formats. Sachin Jain, Forevermark India President, said, "This is our first India-based campaign. In India, as per our diamond acquisition study, the nose pin is the second most widely purchased item after finger rings." India's diamond jewelry consumer market is estimated at $8 billion per annum, according to a Times of India report.
De Beers Forevermark brand has been launched in Hungary, Thailand and South Korea, and is now available in more than 1,700 outlets in 38 consumer markets, the firm said in a statement. Stephen Lussier, Forevermark CEO, said: “Forevermark has enjoyed remarkable growth since it was established eight years ago. Hungary, Thailand and South Korea are very promising markets with high growth potential.”
De Beers subsidiairy Forevermark hosted a Botswana Rhino Rescue Fundraiser, attended by high dignitaries and Hollywood actress Uma Thurman, in support of the Tlhokomela Trust, a newly established organisation preserving wildlife in the Jwana and Orapa game parks, close to Debswana’s major diamond mines in the central towns of Jwaneng and Orapa. De Beers has been involved in projects regarding the conservation of natural resources in Botswana since the 1970s. For every acre of land used for mining by De Beers, five acres are dedicated to the conservation of nature.
For the last few years, the [jewelry] industry has posted small but steady growth - usually in the single digits. This holiday looks to continue this pattern. Sales grew, but not by a huge amount ... At the Forevermark cocktail party on Jan. 11, De Beers CEO Philippe Mellier said his stats showed sales for both the holiday season and the year rose 7% at Forevermark jewelers ... Concerning the diamond business in general, the overall (but certainly not absolute) consensus is that it is starting to bottom out, and we should see a turnaround by this summer.
Michelle Graff of National Jeweler considers De Beers/Forevermark's new holiday commercial (It’s a Long Journey to Become the One), which revisits the "A Diamond is Forever" theme of yesteryear, and wonders why De Beers did not take this opportunity to show where Forevermark diamonds come from and how they are helping the communities where they are mined. "Why didn’t Forevermark emphasize its responsibly sourced origins in this year’s holiday advertising campaign?" They could have.
JCK reports Signet and Forevermark are teaming up to promote a new concept for the holidays called Ever Us, a jewelry line where two equal diamonds touch each other, symbolizing the love and friendship couples share. The collaboration between the two retail brands is unique. Signet's US president Charles Stanley: “If you are going to create an iconic global strategy, who better than Forevermark and the [De Beers] team, which have done so many of these great brands in the past." “Signet and Forevermark want to build on each other’s activities.
In a press release, the De Beers Group of Companies today announced that it will make a "major investment in a holiday marketing campaign to generate increased consumer demand for diamond jewellery during the year-end holiday season. The additional marketing investment will be made in the US and China, the world’s two leading diamond jewelry markets. The campaign will target men purchasing diamond jewelry as gifts for partners over the holiday period.
Forevermark CEO Stephen Lussier discussed a range of issues relating to the Indian jewelry market on the sidelines of the Forevermark Forum held in Hyderabad.
In his latest blog post, diamantaire Leibish Polnauer applauds De Beers’ move to revive the world-famous slogan “A Diamond is Forever”, but the approach will need to be very different, he says. Polnauer argues that targetting Millennials will require an online and mobile-friendly approach, rather than TV or print ads. But most importantly, they need to be told about the facts; the stable value of our product.
The De Beers diamond brand will have more room at the Luxury by JCK show.
De Beers has invested $10 million to equip it with advanced proprietary diamond technology. The facility will select and inscribe De Beers' Forevermark brand diamonds with unique serial numbers and provide grading services for the diamonds.
"A diamond is forever, if it's beautiful, rare and responsibly sourced". This is the new phrase coined by De Beers, world's largest diamond miner, on Tuesday. Stephen Lussier, CEO of Forevermark diamonds said, "Not all diamonds qualify for Forevermark and those who do certainly have a chance to command a premium in the market."