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Forevermark launches in South Africa

28 Nov 2011

Forevermark, the separately managed division of diamond producer De Beers, will increase its retail outlets by year-end, Forevermark CEO Stephen Lussier tells Mining Weekly. Forevermark launched its brand in South Africa, in Johannesburg and Cape Town, on November 21 and 22 respectively.

Diamond distributor and jewellery manufacturer Caratco, through its retail outlet, Jewel Africa, became the first exclusive authorised Forevermark jeweller in South Africa and the company will target other South African provinces. Forevermark has 350 current retailers worldwide and it aims to double this to 700 in early 2012.

This year, Forevermark entered the US, Chinese, Japanese and Indian markets. "There is a rising middle class globally that we want to target," says Lussier. "Our focus in 2012 will be on South Africa and then we will aim to target select markets in Africa," he adds. The company aims to relocate its Diamond Trading Company operation in Botswana in 2014.

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