Jeweller - May 2024

News
Changing tides: Forevermark to undergo another
rebrand as market strategy evolves further
The De Beers Group has confirmed that
Forevermark will cease supplying loose
diamonds and shift to becoming a jewellery
brand.
The brand will stop using the De Beers name,
reversing a rebrand from three years ago, and
operate its own brand-only stores.
The transition will begin in April 2024 and is
expected to be complete by January 2026.
In a letter to retail partners, De Beers stated that
Forevermark will transition to exclusively selling
finished jewellery.
The brand previously supplied loose diamonds to
retailers.
“Forevermark has played an integral role in
advancing the marketing and retailing of natural
diamonds since its inception in 2008,” the letter
reads.
“As we continue to evolve the brand for a
commercially successful future, we have decided
that, from January 2026, Forevermark will be
refocused only as a jewellery brand.”
From January 2026, Forevermark jewellery will
be sold exclusively in franchised and wholly
owned stores, rather than as products sold
wholesale to retailers.
David Johnson, head of strategic communication
at De Beers, told Rapaport News that India would
be a key focus during the rebrand and said the
company has no plans to sell Forevermark.
“There’s a really strong recognition of the
Forevermark name in India. It’s done really well
as a brand there,” Johnson said.
“There’s often a lot of interest in what
Forevermark is doing in the country. It’s a
place where we’re seeing good performance
for consumer demand for natural diamonds
generally.”
He continued: “We’ve been looking at our strategy
across the De Beers business. Part of that has
been looking at our downstream and retail-facing
activities and considering how best to progress in
that direction.”
The Forevermark brand was launched in
Australia by De Beers in 2013 with Storch &
Co acquiring local distribution rights, with the
products sold through 'authorised jewellers'
including Diamonds International (Brisbane),
as well as Percy Marks and Musson Jewellers
(Sydney). Mazzucchelli's was named an
authorised jeweller later that year.
Available in more than 2,000 store worldwide
today, the brand was initially launched in 2008.
Shopping centres join the fight against retail crime
A national campaign targeting retail crime
across Australian shopping centres has been
deemed a success by trade associations.
The campaign began on Melbourne Cup Day (7
November) and concluded on Christmas Eve
(25 December). Ads appeared on digital screens
at more than 270 shopping centres, comprising
more than 30,000 retailers.
Known as the ‘No One Deserves A Serve’
campaign, it was organised by the Shopping
Centre Council of Australia (SCCA), the Shop,
Distributive and Allied Employees’ Association
(SDA), and the National Retail Association.
According to organisers, the adverts
emphasised the importance of ensuring retail
worker safety and were viewed more than 200
million times by consumers.
SCCA CEO Angus Nardi said that while retail
crime remains a pressing issue, the campaign
succeeded.
“The central purpose of the campaign is retail
worker safety, and I look forward to continued
engagement with the SDA and NRA on this
important issue,” he said.
“While most people do the right thing,
unfortunately, retail crime continues to be a
major challenge, including reoffending, brazen
theft, violence and use of weapons.
“We’ll continue to engage with Governments
on this pressing public policy issue alongside
our industry’s dedicated community safety and
security task force.”
Research from the SDA suggested that
more than 85 per cent of retail workers
have experienced abusive behaviour from
consumers.
Northern migration begins:
Bevilles heads to Queensland
Australian jewellery retailer Bevilles will relocate its
corporate head office and distribution centre from
Melbourne to Brisbane later this year.
This development comes one year after Michael
Hill International (MHI) announced its acquisition of
Bevilles for $45.1 million in April of 2023.
Bevilles was founded in 1934 by Leo and Raie Beville,
beginning with a store in Bourke Street in Melbourne.
The relocation is scheduled to be completed in
July with the alignment of Bevilles and Michael
Hill in Queensland expected to reduce operational
expenses.
In a statement, MHI CEO Daniel Bracken said that
improving operational efficiency was an essential
priority given the current economic climate.
“The Bevilles relocation is not only a reflection of
our strong focus on managing operational costs
in the current retail environment but an excellent
opportunity to leverage the Group’s existing
infrastructure, systems and expertise to drive
Beville’s operational performance and customer
experience,” he said.
This is the latest change from MHI since acquiring
Bevilles. In February, it was revealed that Bevilles
has withdrawn its membership with the Jewellers
Assocation of Australia.
Jeweller's 2024 State of the Industry Report found
that MHI had 141 stores in Australia, while Bevilles
had 30 stores across New South Wales, Victoria and
Queensland.
MHI recently announced that it would begin
‘rebadging’ certain Michael Hill stores under the
Bevilles brand. The retailer's store count is expected
to increase to 36 by July.
MHI operates more than 300 stores worldwide and
reported a 4 per cent increase in sales in the first
half of the financial year.
May 2024 | 21