De Beers announces plans for Forevermark

May 01, 2008

By Michelle Graff

London—De Beers' plans for its Forevermark diamond brand will be announced over the next few days to a select group of retailers and diamantaires in London, the company has announced.

Following pilots in Asia, De Beers will attempt to make its mark with Forevermark through select jewelers in Hong Kong, China and Macau in the fourth quarter of 2008, Japan in the first quarter of 2009 and South Africa in the second quarter of 2009.

When asked if there were plans for the Forevermark beyond the second quarter of 2009, De Beers spokeswoman Lynette Gould told National Jeweler, "Yes of course, and I am sure we'll hear about them in due course. The focus now is on Asia."

The Forevermark is the latest branded diamond to hit the market, as the industry searches for new ways to market diamonds to consumers. It also is the first branded diamond for De Beers, which no longer controls the majority of the world's diamond supply and lately has shifted focus to its retail component.

Forevermark diamonds have a unique identification number and icon inscribed on the facet that is invisible to the naked eye. Diamonds must be at least 0.18 carats, SI2 clarity, J color and have a cut rated "good" to meet the Forevermark standards.

In addition, De Beers has announced the opening of state-of-the art facilities in Belgium and England whose sole purpose will be to grade Forevermark diamonds.

Commenting on the launch of Forevermark, De Beers Chairman Nicky Oppenheimer said the Forevermark would meet the concerns of today's more educated, socially conscious consumer.

"Consumers are becoming more knowledgeable, more demanding and more concerned about the well-being of the world at large. Forevermark will...give assurance and comfort," he said.

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