Editor’s Note
De Beers is making a significant push into the Indian market, doubling its marketing investment for natural diamonds to an all-time high. This strategic move underscores the country’s growing importance as a key consumer market. In an exclusive interview, company leaders discuss their vision and commitment to this vital region.
De Beers Doubles Marketing Investment in India
The De Beers Group is doubling its marketing spend for natural diamonds in India, with its investment now at an all-time high. De Beers Group CEO Al Cook and De Beers Group’s Global Senior Vice President & CEO of Forevermark, Shweta Harit, spoke about the company’s contribution to the Indian diamond market in an interview with Charlene D’Souza in Mumbai. Excerpts from the conversation:
Is De Beers Spending Too Much on Marketing in India?
“We will do two types of marketing next year. We will continue our category marketing, building on the success of campaigns like Love, From Dad, Love, From Bestie, and IPL. Alongside this, we will strengthen our marketing for Forevermark. From launch until this week, we have five Forevermark stores, which will increase to about 25 by the end of the year. We will also do specific marketing for Forevermark. India is becoming a fast-growing, important market for us, and we are investing here accordingly.”
“This year’s spend for Forevermark will be higher than last year. Last year we had fewer stores. This year, we are starting anew with a full focus on increasing marketing.”
How is the Indian Market Performing for De Beers?
India is the world’s second-largest diamond market after the US. How is the Indian market performing for De Beers?
“Actually, it’s growing even faster now. We believe that in 2025, India saw growth of about 11 percent, which is the highest compared to any country in the world. The reason is India’s economic growth, along with people’s deep love for jewelry and diamonds. This combination is very good for both diamonds and De Beers.”
Will Growth in Natural Diamonds Continue in 2026?
“India has been growing rapidly for several years. We have recorded double-digit growth in demand for natural diamonds for four consecutive years – 2022, 2023, 2024, and 2025. We expect this pace to continue in 2026 and 2027. High gold prices have had some effect. But the strength of the Indian economy has helped sustain demand. We are very happy with this. Now that we have a retail brand in India, along with our category-based diamond marketing, we can further boost this by creating synergy between these two – category marketing and Forevermark.”
Is There Increased Demand for Studded Jewelry?
Given current gold prices, are you seeing an increase in demand for studded jewelry?
“Yes, we are seeing many people approaching us specifically for the sale of diamonds or studded jewelry. There is pressure on gold margins, and selling just gold has become difficult. I believe the demand for studded jewelry will increase.”
Impact of Lab-Grown Diamonds on Natural Diamond Demand
Lab-grown diamonds are also becoming popular in India. Do you think this will affect the demand for natural diamonds?
“The Indian consumer is perhaps the world’s most knowledgeable jewelry consumer. Consumers elsewhere in the world do not emphasize knowing the quantity of gold and diamonds as much as in India. This knowledge matters, especially because there has been global uncertainty between lab-grown and natural diamonds. This is why lab-grown diamond prices first rose and then fell. In India, we are seeing something different. Lab-grown diamonds are entering retail, but at lower prices. Consumers understand what they are buying. They know it’s not a natural diamond, they know it has become a commodity.”
