Philippe Mellier, Chief Executive, De Beers Group, welcomed Forevermark partners during a private cocktail event in New York City where he addressed the challenges and opportunities facing the diamond industry. Special focus was given to the strategic reasons behind the emergence of diamond brands and the growth of Forevermark.
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- Philippe Mellier, Chief Executive, De Beers Group
“Of course, many of us in the diamond industry know that we are selling far more than the most beautiful of gemstones – we are in fact marketing the concept of forever,” stated Mr. Mellier.
Speaking about the US market, Mr. Mellier said, “It is undeniable that the consumer landscape in the US is changing. There has been a clear increase in consumer preference for brands and people are also changing how they engage in the retail process”.
Mr. Mellier continued by highlighting the benefits of the Forevermark proposition, emphasizing how it answers the consumer’s growing desire for branded products that can be trusted and that can evidence their ethical credentials. In order to deliver on this potential he stressed that the industry needs to understand the challenges, identify the opportunities and employ a coherent and future-proof strategy for sustained success.
The 2014 release of the Diamond Insight Report published by the De Beers Group showed survey results that diamond jewelry takes the top place in the US market where 74 percent of Forevermark retailers reported that their overall diamond jewelry sales were equal to, or greater than, the prior year. Authorized Forevermark retailers grew by 18 percent over the last year with demand amounting to over 350,000 inscribed diamonds.
Mr. Mellier also addressed progress within the De Beers Group in diamond investment and development projects in producing countries around the world.
