Forever­mark Out­lines Am­bi­tious Plans

Trends, dig­i­tal dis­rup­tion and more

Solitaire - - CONTENTS -

T he sev­enth edi­tion of the Forever­mark Fo­rum, held from July 9th11th, 2018 in New Delhi, was a cel­e­bra­tion of Forever­mark’s long jour­ney in the di­a­mond re­tail sec­tor. It show­cased col­lec­tions and spelt out the fu­ture plans of the di­a­mond brand from the De Beers Group of Com­pa­nies through var­i­ous new ini­tia­tives be­ing taken in this di­rec­tion – in keep­ing with the theme of the event, The Fu­ture Is Now.

The goal of this very suc­cess­ful fo­rum was to pro­vide a wide plat­form for all its part­ners to in­ter­act, trans­act and gain new per­spec­tive on Forever­mark’s growth in con­text to events within and out­side the in­dus­try. Part­ners dis­cussed di­ver­sity in thought, cul­ture, de­sign, and in­no­va­tion in a multi-faceted fu­ture brim­ming with di­verse op­por­tu­ni­ties.

Forever­mark, which en­tered the In­dian mar­ket in 2011, en­joyed 100% growth in 2017 here and hopes to re­peat the stel­lar per­for­mance this year. The brand has more than 250 stores in In­dia through its part­ner­ships with In­dian jew­ellers and two ex­clu­sive bou­tiques in Kolkata and Ben­galuru. It aims to reach out to more ci­ties in In­dia, es­pe­cially the tier II, III and IV ci­ties through a greater num­ber of re­tail stores, ex­clu­sive bou­tiques and part­ner­ships with In­dian jew­ellers as well as strengthen its on­line pres­ence.

At the event, Stephen Lussier, CEO Forever­mark, said, “Given our De Beers her­itage and pedi­gree, our part­ners look at this fo­rum as a source of in­for­ma­tion, learn­ing, strat­egy and di­rec­tion to un­der­stand the fu­ture in­dus­try, man­age­ment and prod­uct trends. We have al­ways been a dis­rup­tor brand and are pleased to con­tinue to work with our valu­able part­ners to bring fresh per­spec­tive and fu­tur­is­tic re­tail in­no­va­tions to the in­dus­try.”

Sachin Jain, pres­i­dent, Forever­mark In­dia, noted, “Over the years Forever­mark Fo­rum has been at the fore­front of tak­ing our part­ners through the fu­ture of the jew­ellery in­dus­try and has be­come a key event for all the jew­ellers in the di­a­mond busi­ness. With each fo­rum, we strive to build a legacy, strengthen part­ner­ships and lead the di­a­mond in­dus­try to a daz­zling fu­ture. With the chang­ing eco­nomic cli­mate, the im­por­tance of ethics in busi­ness is more per­ti­nent than ever be­fore. Dig­i­tal dis­rup­tion is paving the way for new ways to in­ter­act with our con­sumers and help us reach them with a story to tell in ev­ery im­por­tant event

in their life. When we think about the fu­ture sus­tain­able prac­tices can­not be left far be­hind and we are heav­ily in­vested in giv­ing back to the com­mu­nity through var­i­ous ini­tia­tives in gen­der equal­ity, en­vi­ron­men­tal con­ser­va­tion, em­ploy­ment gen­er­a­tion and ed­u­ca­tion.”

The star of the fo­rum was Sophia, an ad­vanced so­cial hu­manoid ro­bot de­vel­oped by Han­son, a Hong Kong-based com­pany. Modelled after ac­tress Audrey Hep­burn, Sophia is known for her hu­man-like ap­pear­ance and be­hav­iour com­pared to pre­vi­ous ro­botic vari­ants. Sophia ex­pressed her abil­ity to par­tic­i­pate in the whole process of se­lect­ing a Forever­mark di­a­mond and de­sign­ing a piece of jew­ellery with Lussier – a first in the jew­ellery busi­ness for any Ar­ti­fi­cial In­tel­li­gence!

The fo­rum also con­sisted of a spe­cial Knowl­edge Se­ries de­signed to pro­voke mean­ing­ful con­ver­sa­tions. This year’s em­i­nent speak­ers were Ron­nie Screw­vala, a me­dia pioneer and en­tre­pre­neur, and Ab­heek Singhi, se­nior part­ner and manag­ing di­rec­tor at The Bos­ton Con­sult­ing Group, who shared a fresh per­spec­tive on busi­ness and life, while also talk­ing about ex­pe­ri­ences that en­riched them as in­di­vid­u­als.

Over 2,000 jew­ellery de­signs cre­ated at a Mi­lan de­sign stu­dio and man­u­fac­tured in In­dia, which were in­spired by the four key moods of the trends for 2018, were put up for dis­play at the fo­rum—Think Pink, Gar­den of Won­ders, Game of Shapes and Time Cap­sule. “With the Forever­mark Trend Re­port 2018 we have iden­ti­fied four key trends which will in­spire jew­ellery col­lec­tions com­bin­ing time­less al­lure with con­tem­po­rary ap­peal,” said Fed­er­ica Im­pe­ri­ali, head of new prod­uct devel­op­ment at Forever­mark. “Each theme’s unique blend of imag­i­na­tive aes­thet­ics and emo­tional sig­nif­i­cance presents wonderful op­por­tu­ni­ties for the cre­ation of new and ex­cit­ing de­signs.”

Jain com­mented, “In­dian jew­ellers know ex­actly what con­sumers want. So we be­gan part­ner­ing with them and launch­ing our trend col­lec­tions to­gether, col­lab­o­rat­ing on de­signs and com­bin­ing our ex­per­tise and knowl­edge. We plan to do some­thing spe­cial for our 10th an­niver­sary to make it mem­o­rable. The cam­paigns we are work­ing on, such as the Half Carat, stack­ables, etc., will be the driv­ers of our growth.”

The fo­rum was at­tended by around 600 em­i­nent in­dus­try in­flu­encers, re­tail chain own­ers and jew­ellers, in­clud­ing C Kr­ish­niah Chetty & Sons, AS Moti­wala, Ha­zoo­ri­lal, Joy­alukkas, Ma­hesh Notan­das, Mal­abar Gold & Di­a­monds, Senco Gold & Di­a­monds, TBZ - The Orig­i­nal and Vum­midi Ban­garu Jew­ellers.

The fo­rum was suc­cess­ful in shin­ing a light on the fu­ture path for the brand as well as its part­ners to en­gage with their con­sumers more ef­fec­tively and to lever­age on their in­her­ent strengths and ca­pac­i­ties, in the face of the chang­ing world econ­omy.

Stephen Lussier and Sachin Jain flank Sophia, the ad­vanced so­cial hu­manoid ro­bot, who was the star at­trac­tion at the fo­rum.

Costantino Pa­padim­itriou, SVP - brand strat­egy and in­no­va­tion, Forever­mark, giv­ing an in­spi­ra­tional talk at The Knowl­edge Se­ries.

Sachin Jain

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