RAPAPORT… De Beers Forevermark will require its partners to sell the brand’s own jewelry designs in a strategic shift aimed at achieving greater consistency.
Previously, Forevermark customers were able to select loose diamonds from the brand and place them in their own or third-party designs. The company’s target for implementing the change is January 1, 2023, Charles Stanley, president of De Beers North America, told Rapaport News Wednesday.
Buyers will be able to pair listed loose diamonds to Forevermark bridal designs on the brand’s business-to-business (B2B) portal. They can request loose diamonds to show clients or to fill final orders.
The new system, which applies across North America, will enable consistent pricing and reduce customers’ need for large inventory of loose diamonds and semi-mounts — a term for settings without center stones, Stanley argued.
“Our bridal offer meets clients where they are, providing a curated yet customizable finished bridal collection,” the executive added. “Clients do not want to be overwhelmed by an abundance of choices.”
The brand announced the update at the recent Couture show in Las Vegas. De Beers showcased collections from De Beers Forevermark and De Beers Jewellers together for the first time at a jewelry trade fair, Stanley pointed out. The group has been working to consolidate its retail brands, including by adding the De Beers name to the Forevermark label a year ago.
Image: A loose Forevermark diamond seen through a loupe. (Ben Perry/Armoury Films/De Beers)