Leading diamond house Storch & Co has acquired the local distribution rights for the brand, which was first released by De Beers in 2008. It will be sold through “authorised jewellers” including Diamonds International in Brisbane and Percy Marks and Musson in Sydney.
The event, held on Monday 21 October, was attended by 150 celebrities, media and VIP guests who witnessed a collection of Forevermark diamond jewellery that previously had been worn by international stars like Alicia Keys, Elizabeth Hurley and Elizabeth McGovern. Television presenter and journalist Sarah Harris hosted the party at the Guillaume at Bennelong restaurant.
Forevermark CEO Stephen Lussier said he expected the brand to do “exceptionally well” in Australia.
“Australia is a natural extension for us, having expanded extensively around the globe since launching in 2008. Anyone wearing Forevermark can be assured that each diamond is responsibly-sourced, beautiful, rare and of the highest quality."
According to De Beers, only 1 per cent of the world’s diamonds are eligible to be inscribed with the Forevermark icon and individual number.
Benchmark for local industry
Storch & Co managing director Daniel Storch said the brand would provide a good benchmark for the Australian industry and that there were plans for gradual expansion into other cities and states.
He believed the main drawcards for the local market included: brand strength and expertise, responsible sourcing, innovation in diamond cutting, strong retail partnerships and point-of-sale marketing material.
As previously reported by Jeweller, diamond companies like De Beers and Rio Tinto Diamonds are now specifically allocating marketing resources for their branded diamond offerings.
De Beers CEO Philippe Mellier explained to jewellery retailers earlier this year at the JCK Las Vegas jewellery show that the industry’s future was more about branding than trying to promote generic diamonds.
He added that discussing ethical sourcing with customers provided an interesting story that steered the conversation away from the four Cs, which often ended in debates about price.
The Forevermark brand was first piloted in Hong Kong in 2004 and officially launched in 2008 as a wholly-owned subsidiary with a focus on Asia. It was introduced in the US and India in 2012 and has a special distribution licence program in Singapore, the Caribbean, Mexico, Malaysia, South Africa and the UAE.
The Forevermark business has extended its existing partnership with Canada-based diamantaire, Crossworks Manufacturing, to now include Australia. The brand is available in more than 1,100 stores worldwide.
Storch & Co has been sourcing and supplying diamonds in Australia since 1950.
FOREVERMARK AUSTRALIA LAUNCH EVENING
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