De Beers Forevermark, a diamond brand, has decided to deepen its focus on the southern market as it sees huge growth opportunities across metros, tier-2 and tier-3 cities in the region, it said in a statement on January 12.
The company said it was upbeat about demand for diamonds in South India in 2022 and it was expecting to grow in double digits this year too given the pent-up demand.
Sachin Jain, managing director, De Beers India, said, “The growth trajectory has been very strong for us in the past few years and we expect it will continue. Despite the pandemic-brought challenges, consumers have expressed a strong demand for diamond jewellery, outstripping demand for other luxury categories.”
With increasing disposable income, growing middle class population, rapid urbanisation, improving the standard of living and consumer preference towards investment in gems and jewellery, the diamond industry is looking forward to a high growth trajectory and gaining a significant share of consumer spending, according to Mr. Jain.
