Forevermark Diamond Jewellery Plans Retail Expansion to Reach 100 Stores and ₹100 Crore Revenue by 2026

NEW DELHI — Forevermark Diamond Jewellery, operating under the De Beers Group, is scaling up its retail presence across India. The expansion comes at a time when the country's natural diamond jewellery segment is experiencing steady growth.

According to the company, the natural diamond jewellery segment is growing at a rate of about 13.5 percent, outpacing the broader jewellery segment's growth rate of roughly 10.5 percent. India currently stands as the second-largest jewellery consumption market globally.

Mallikarjuna Reddy Yarabolu, Managing Director of Forevermark, De Beers India Pvt. Ltd., stated that the brand has opened 12 stores since launching nearly a year ago, with its latest outlet established in Gurugram. The company expects to add two to three more stores by the end of December, bringing its total count to 14 or 15 stores. The brand is targeting a total of 100 stores over the next four years.

Forevermark has set a revenue target of ₹100 crore by the end of 2026. Looking further ahead, the company aims to scale its revenues to approximately ₹1,000 crore by 2031 while maintaining a network of 100 stores.

For its retail expansion, the brand intends to focus primarily on the top 20 cities in India. Alongside physical storefronts, Forevermark is scaling its omni-retail strategy. The company reports that nearly 40 to 45 percent of consumers visiting its physical stores have previously interacted with the brand online.

The retail stores offer various product lines, including the Icon, Avaanti, and Milliemoi collections. The inventory also features solitaires, bridal jewellery, festive pieces, and everyday wear designs.

Company leadership noted that demand across current stores remains strong, supported by favorable momentum leading into the festive season. Younger demographics, particularly Gen Z consumers, are reportedly contributing to the consumption of natural diamond jewellery in the market, alongside an increase in the number of individual pieces purchased by consumers.

"Forevermark's structured retail expansion strategy highlights the robust underlying demand in India's natural diamond segment, particularly among Gen Z consumers. By targeting top-tier cities and integrating an omni-channel approach where a significant share of buyers transition from online discovery to physical stores, the brand is effectively aligning with modern consumer behavior. Setting clear milestones, such as scaling to 100 stores and ₹100 crore in revenue by 2026, demonstrates a disciplined approach to long-term market penetration in the world's second-largest jewellery consumption market." — Dr. Shishir Gupta, Founder & CEO, StartupLanes