DiamondBuzz
De Beers to open 100 Forevermark stores in India by 2030
De Beers aims to open 100 Forevermark stores in India by 2030, as it taps into the world’s second biggest market for natural diamond jewelry after the US.It expects demand in India, currently at around $10bn, to double in that time.
De Beers plans to open 15 of its prestige Forevermark stores in Delhi and Mumbai in 2025, with a goal of reaching 100 stores in 40 cities by 2030.
India’s natural diamond jewellery market is currently valued at around $10 billion and is expected to double to $20 billion by 2030, with an annual growth rate of about 12%. This robust growth is fueled by rising incomes, a young population, increasing financial independence among women, and a cultural affinity for jewellery.
The aggressive expansion by De Beers and other major players is expected to accelerate the penetration of diamond jewellery in India, which, while growing, still lags behind gold in terms of household adoption.
Al Cook, the company’s CEO, , said: “We’re very confident in the future of India. It has become the second largest market for natural diamond jewellery globally, overtaking China last year.”We’ve seen double-digit growth for the last few years, and we actually see natural diamond demand in India, which is growing at 12 per cent annually, to double over the next five years by 2030.”
DiamondBuzz
India LGD Sector Is Pushing Back Against Aggressive Discounting
Trade Body, Leadership Urged Traders and Brokers To Enforce Price Floors and Eliminate Undercutting.
India’s lab-grown diamond (LGD) sector is pushing back against aggressive discounting as shrinking margins squeeze manufacturers and erode industry profitability. At a September 7 meeting of the Surat Lab Grown Diamond Association, leadership urged traders and brokers to enforce price floors and eliminate undercutting.
Raw Price Shift: Polished LGD prices recently rebounded by 20% to 25%.
Discount Compression: In response to rising costs, traders scaled back buyer discounts from ~7% to a tighter 3%–4% range.
Margin Squeeze: Association President Babu Vaghani warned that uncontrolled discounting directly erodes manufacturer earnings, forcing wage cuts and destabilizing supply chain economics.
Industry Outlook
The sector faces a structural dilemma: lower consumer prices drive adoption, but severe price erosion starves manufacturers, polishers, and labor of viable margins.
Continued downward pressure is pushing skilled labor out of the market and forcing polishing units to explore alternative industries. Stabilization hinges on widespread compliance with pricing discipline across the Surat hub.
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.