The ninth edition of the Forum, which was held from 18 – 20 August 2020, provided a platform for Forevermark to equip its partners with the newest retail innovations, latest technologies and consumer insights to help them optimise their business and stay ahead of the consumer curve. As 2020 marks the beginning of a new decade, the theme ‘Meaningful Tomorrows’ is aimed at helping the brand and its partners imbibe learnings and lay down new practices. These efforts are aimed at paving the way for a more meaningful world that prioritises the current consumer’s sentiment and embraces conscious luxury.
“I welcome all our partners to Forevermark’s first virtual Forum in India, a feat of true innovation and creativity. The Forum’s theme, Meaningful Tomorrows, is particularly relevant in the current environment, where the pandemic has reinforced the importance of our personal relationships and the role diamonds can play as we all look forward to a brighter tomorrow. It has been and remains an extraordinary time, but change can also bring opportunities. Forevermark is a brand with a strong social purpose, with a focus on intrinsic and lasting value - traits which we know are of fundamental importance in inspiring a meaningful tomorrow for our consumers,” stated Stephen Lussier, Forevermark Chairman and Executive Vice-President, Consumer and Brands, De Beers Group.
To further encourage growth and better understand the Indian consumer, Forevermark also shared the results of an in-depth piece of research that the company had undertaken to understand current consumer sentiment. The report revealed that while Indian consumers remained cautious of how they are spending, their appreciation for diamonds remains very strong. It also showed that since jewellery is woven into the fabric and rituals of festivity and celebration, it is highly prioritised amongst luxury spending categories, and acquiring diamonds for gifting or for self-purchase remains a top preference for young women. The report stated that the market is improving, and people have embraced living in the new normal. Another positive statistic shared was that online consumption is at an all-time high, reinforcing the importance of Forevermark’s e-tail proposition for consumers.
Speaking about the brand and its growth in India, Nancy Liu, CEO, Forevermark said, “We all recognise that it has been an incredibly challenging start to the year. Forevermark is responding to these challenges by drawing on the latest consumer insights and our unique brand strengths as we prepare for the re-emergence of strong demand as lockdowns ease and retail environments re-open. In India in particular, we have seen phenomenal success over the past few years, and we look forward to a strong return to growth in 2021.”
Among the key trends for 2020 highlighted at the Forum were the jewellery trends for the year that are futuristic yet sustainable. Forevermark displayed over 1700 designs with four key moods: Urban Nature, Open Mind, La Suerte and Royal 2.0.
Attendees at the Forum were taken through the successful consumer campaigns, namely The Forevermark Tribute collection, with the premise that seasons change but a diamond is forever, a symbol of continued success; Forevermark Icon Collection, a new trademark collection to be launched later this year; and the Forevermark Traditional Setting collection inspired by South India’s rich heritage.
The Forum also highlighted some of Forevermark’s popular retail programmes, including Exceptionals, a selection of some of the most exquisite diamonds, each at least three carats though many much larger, the Exceptional Diamond Collection represents the pinnacle of the Forevermark promise; the Red Carpet collection that sees celebrities radiate in pieces showcasing India’s finest craftsmanship on international platforms like the Academy Awards, Screen Actors Guild Awards and Golden Globes, with the exquisite 2020 collection on display at the Forum; and the Circle of Trust, a radiant collection of diamond bangles.
The special Knowledge Series at the Forum was designed to bring experienced and intellectual minds together for discussions that foster inspiration, are idea-focused and provoke meaningful conversations. Eminent speakers at the series this year were Ms. Randi Zuckerberg, Founder & CEO at Zuckerberg Media, Mr. Deep Kalra, Founder, MakeMyTrip and Sonam Wangchuk, engineer, innovator and education reformist. In addition to the partners, the Forum was also attended by key industry influencers, retail chain owners and independent jewellers from the industry. Special break-out sessions were also organised by De Beers Group experts on topics like sustainability and conscious luxury.
As part of the entertainment quotient, the multitalented and award-winning superstar, Farhan Akhtar enthralled the attendees of the Forum with an interesting fireside chat and a live acoustic performance.
“Forevermark has always aimed at creating roadmaps and leaving footprints that the diamond industry can follow. Going virtual is not just by chance but by choice as well. The digital disruption is paving the way for new options to interact with our consumers, understand their aspiration and develop products that match their sensibilities. When we think about the future, a diamond is more than a symbol of love; it is a reminder of what we can achieve together,” said Sachin Jain, Managing Director, De Beers India.
Through its virtual Forum, Forevermark has provided its partners the ability to network, transact and gain new perspectives on Forevermark’s growth. Partners from 37 countries worldwide and 434 cities in India were able to meet and discuss diversity in thought, design and innovation, learning how together they can redefine their product, services, and business practices today for a more beautiful and meaningful tomorrow.
