To commit to better quality goods that are 100% Forevermark. If we can do that, then we can drive up our market share.
So what is the demand like in India?
Each market has its own preferences. Americans tend to buy larger diamonds upwards of half a carat. The Chinese tend to buy goods between 30 points and 60 points, which is the average size for an engagement ring. One of the things that differentiates India from some of the other markets is that the solitaire segment is a growth area. The designs are India-centric so medium goods account for a larger share, but it is a good way to introduce the consumer to solitaire-type designs.
Are there any plans to sell Forevermark diamonds online in India?
No, because it would mean that we are competing with our partner jewellers and we would not want that. You can’t see the beauty of a Forevermark diamond on paper. We want people to experience a Forevermark diamond first-hand, and for this, our partner jewellers play an extremely important part.
What are the challenges you foresee when it comes to expanding your footprint in India?