De Beers branded diamond creeps closer to U.S.

We publish courtesy of National Jeweler

London—Forevermark, De Beers’ branded diamond that is available across Asia, will be making its way into the Western Hemisphere, the diamond giant announced Thursday.

After reaching $150 million in retail sales in its first 18 months on the market, Forevermark will be made available in Mexico and select Caribbean islands, as well as in India and Singapore, before the end of the year.

According to a media release from De Beers, Caribbean retailer Diamonds International will carry Forevermark diamonds and diamond jewelry in seven doors in the Caribbean and Mexico. Information on the locations of those seven doors was not immediately available.

The miner-turned-retailer is barred from selling the branded diamond in the United States due to antitrust laws, but now, De Beers will be making Forevermark available at jewelry stores where American tourists shop to take advantage of Diamonds International’s duty-free status.

Diamonds International, which bills itself as the “largest duty-free jeweler in the world,” operates more than 125 jewelry stores throughout the Caribbean, Mexico and Central America and recently opened stores in Key West, Fla., Alaska and Las Vegas. The company’s corporate headquarters are in New York City.

In Singapore, Aspial and Lee Hwa stores will carry Forevermark, while in India, where the branded stone has had a presence at select private events since late 2009, De Beers is in talks with a number of retailers. De Beers plans to select authorized Forevermark dealers in India before the end of the year.

“We launched Forevermark a little more than two years ago with the goal of becoming the world’s leading diamond brand,” Forevermark Chief Executive Officer Stephen Lussier said in the release. “We wanted to develop a brand that not only defines quality and integrity within the diamond industry but that also inspires leading independents jewelry manufacturers and retailers to create precious and exciting diamond jewelry. We believe that growing into these new and vibrant markets is bringing us closer to realizing that goal.”

Each Forevermark diamond is inscribed with a unique identification number and the Forevermark logo and is graded at a Forevermark-specific lab. The minimum requirements for a Forevermark stone are 0.18 carats, SI2 clarity, J color and a cut rated “good.”

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