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De Beers plans 100 Forevermark stores in India by 2030, up from 10 today
Our read
De Beers is more likely than not to grow Forevermark's India footprint several-fold by 2030, mostly through franchisees, but the full 100 stores is closer to a coin flip than a certainty.
For operators
If you run a jewellery store in India's top 20 cities, expect Forevermark to open flagship and franchise outlets nearby as it grows from 10 stores today to 100 by 2030, so plan now how you will compete on diamond range and service.
Watch
Announcements of named franchise partners or multi-city franchise agreements
The report,
Forevermark will focus on multiple stores in the top 20 cities, as De Beers cites average annual demand growth of 13 per cent in India. The 100 outlets will be a mix of flagship and franchise stores.
Store and format facts
From the report. Source details below
| Company-owned Forevermark stores currently: | six |
|---|---|
| Franchise Forevermark stores currently: | four |
| Share of growth driven by Gen Z: | 51 per cent |
| Women's ownership of diamond jewellery in India: | 15 per cent |
| Average caratage demand in India: | 0.79 carats |
What it means for the format
With Forevermark planning a tenfold rollout to 100 stores by 2030 through both flagship and franchise formats, and only four of today's 10 stores franchised, the franchise route is where a partnership or multi-outlet deal could open up in the top 20 cities.
The counter-case
The case against this reading — not reported by the source.
A 10x jump in under five years is a target, not a commitment, and it rests on the franchise model carrying most of the load. Only four of today's 10 stores are franchised. Hitting 100 means finding and funding dozens of franchise partners in a category where Indian jewellers such as Tanishq, Kalyan and Malabar already own the diamond shelf space and customer trust. The 13% average annual growth figure is a company-cited demand number, and it may not translate into branded, certified diamond sales. Lab-grown diamonds are pulling price-sensitive buyers away from natural stones, gold prices are at record highs and squeezing discretionary jewellery budgets, and natural diamond prices have fallen sharply. De Beers is also in the middle of a parent-level restructuring and sale process at Anglo American, so capital and strategic priorities could shift well before 2030. Past brand expansion targets in Indian retail have often been missed or quietly revised. Treating this as a confirmed 100-store rollout would overstate what is really an ambition.