De Beers to expand Forever brand in India
September 27th, 2011 - 9:03 pm ICT by IANSChennai, Sep 27 (IANS) Global diamond major De Beers is hoping to earn around 15-20 percent of its targeted global revenue over the next five years from its expanded Forever brand chain in India, a top company official said Tuesday.
Launching the brand here, De Beers group CEO Stephen Lussier told reporters: “The global revenue from the brand this year is expected to be around $300 million up from $250 million in 2010. The growth in Indian and Chinese jewellery market is expected to contribute to the turnover in the future.”
The brand will be launched in Kolkata and Hyderabad by the end of this year. The brand has been launched earlier in Bangalore, Delhi and Mumbai.
“We have tied up with around 400 jewellers worldwide and plans are there to increase that to 800 by this year end,” Lussier said.
In India, Forever has tied up with around 30 retailers and plans are there to increase the partnership with 43 retailers by the end of this year.
While the jewellery will be designed by the retailers, the diamond that will be used would be that of Forever brand.
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Tags: bangalore, chennai, de beers, diamond, group ceo, hyderabad, India, jewellers, jewellery, kolkata, lussier, next five years, partnership, turnover, year end