De Beers India Aiming For $1-Million Revenue With Opening Of 100 Retail Stores By 2030

De Beers, a global leader in the diamond industry, on Wednesday announced it will foray into the retail segment with the opening of 15 Forevermark brand stores in India in the current year.

De Beers India Managing Director Amit Pratihari said the plan is to establish 100 retail stores by 2030 with a revenue target of $1 million.

"We are investing in retail through Forevermark jewellery brand. We will open 15 stores, eight in Delhi and the rest in Mumbai this year," he told reporters here.

The retail space for opening the stores has been identified and probably, the first retail store will open in June-July, the official said, but declined to share the financial details.

Pratihari said there is no threat to the natural diamond industry from synthetic diamonds while emphasising the need for quality certification to differentiate both to protect the interest of consumers.

The company is working closely with the government in this regard, he added.