De Beers hopes to score big with forevermark

For cashed-up Chinese who are pursuing a better life and luxury products, a plain diamond is obviously not enough. More and more of them want them with a unique mark that essentially says: "This is mine."

Nancy Liu, managing director of Forevermark in China, displays a diamond necklace at a fashion show. Provided to China Daily

The pursuit of that something extra special is giving the diamond company De Beers Group cause for applause.

The De Beers offshoot Forevermark says that an inscription, invisible to the naked eye, is placed on diamonds, in effect a guarantee of the rigor that has been gone through in obtaining the diamond, its selection and its processing.

"Our inscription is not only proof that each diamond is as unique as the relationship it signifies for couples, but also allows our customers to register their diamonds on our website for extra assurance," says Nancy Liu, managing director of Forevermark in China.

"Fewer than 1 percent of the world's diamonds are eligible to be inscribed as Forevermark and to be numbered, which makes them very precious and unique."

The Forevermark is made up of a rhombus-form symbol and an identification number that is inscribed on the table facet of diamonds over 0.30 carats. The size of the mark is only 1/20 of a micron deep (1/500 the thickness of a human hair).

The brand allows diamonds to be offered to master diamond cutters and retail jewelers that were once offered only to authorized bulk buyers of the Diamond Trading Company, the rough diamond sales and distribution arm of De Beers.

"In a world where international brands are sought after and valued, the majority of diamonds were being still sold unbranded so there was great opportunity in this area to brand diamonds," Liu says.

In China, the distribution channels of Forevermark are retail jewelers including Chow Tai Fook, Chow Sang Sang and Larry Jewelry, which will use Forevermark diamonds to design and create various pieces of jewelry.

"The Forevermark team has a clear vision," Liu says. "We work in partnership only with the world's leading diamond jewelry retailers, and every step is a strict selection from the mine right through to the jeweler."

Another thing that distinguishes Forevermark from other diamonds is that each diamond goes through the Forevermark Diamond Institute in Antwerp, Belgium, where diamond experts are told to check the diamonds at least five times.

In partnership with retailers, Forevermark diamonds are now available in 240 jewelry stores in 16 cities, including Beijing, Shanghai, Dalian and Shenzhen.

"Our experience with the initial launch in 2008 was excellent, and we are looking to explore second- or even third-tier cities, which will be the key markets for our business growth in the next few years," Liu says.

Last year sales of diamonds globally grew 25 percent, Liu says, China being one of the fastest-growing markets.

Sales of Forevermark diamonds in China rose 25 percent last year, she says, and those sales accounted for about 7 to 8 percent of the global market. By 2016 Forevermark sales revenue in China is tipped to account for 16 percent of the global market.

A report issued by the British consulting firm Bain & Company last month said the value of sales in the world luxury goods market are expected to rise to 191 billion euros this year, up 8 percent from last year, and the Chinese luxury market is expected to grow 35 percent.

De Beers diamonds bearing the Forevermark will soon be launched in the United States, the world's largest diamond market.