De Beers Group is strengthening its foothold in the Indian market through an aggressive retail expansion of its subsidiary, Forevermark. The company announced plans to open 15 new stores in Delhi and Mumbai by the end of this year.  

Amit Pratihari, Managing Director of De Beers India, shared the news at a recent media briefing, stating, “We aim to enhance Forevermark's presence with 15 additional stores in 2025, with a vision to reach 100 stores and $100 million in revenue by 2030.”  

The expansion will include a mix of company-operated outlets and stores opened through franchise partnerships. The first of the new stores is set to open in New Delhi this June.  

Forevermark, which recently restructured its operations in India, has shifted its focus from supplying loose diamonds to establishing itself as a prominent jewellery label in the country.  

Pratihari highlighted the immense potential of the Indian gems and jewellery market, which is currently valued at $85 billion. "By 2030, this market is projected to grow to between $120 billion and $140 billion, with natural diamonds accounting for over 10% of the segment, valued at $17 billion," he noted.  

India remains the world’s second-largest diamond market after the United States, holding a modest 10% share of the overall global gems and jewellery market. The expansion of Forevermark is seen as a strategic move to capture a larger slice of this growing market.  

The new stores will showcase a variety of Forevermark's premium jewellery collections, catering to the evolving preferences of Indian consumers who seek both timeless elegance and modern designs.