Forevermark to Rebrand with De Beers Name

RAPAPORT... Forevermark will change its name to De Beers Forevermark, enabling the retail brand to capitalize on the miner's reputation and sustainability efforts, a spokesperson confirmed to Rapaport News last week."Creating a stronger association between the De Beers name and Forevermark will deliver benefits for Forevermark partners and customers alike, by providing a deeper connection to the iconic De Beers brand and a more direct link to De Beers' Building Forever sustainability goals and framework," the spokesperson said.The new branding will apply to all Forevermark channels. It will start to take effect in July, though the timeline and execution may differ in different markets, the spokesperson noted.De Beers has indicated in the past that Forevermark would make greater use of the parent company's name. In November 2020, the miner said a closer association would benefit the Forevermark brand and facilitate a "single, unified and powerful social-purpose message." Around the same time, the miner also merged various consumer and corporate divisions to create a new team focused on social purpose. Founded in 2008, Forevermark had limited ability to use the iconic name in the past because of De Beers' retail joint venture with LVMH, which held a 50% stake in De Beers Jewellers, another of the miner's retail brands. The French luxury group sold its interest to De Beers in 2017, giving the company more control of its own brand. This enabled De Beers to attach its name to other businesses, such as De Beers Group Industry Services - previously the International Institute of Diamond Grading and Research (IIDGR).Image: Signage on a Forevermark store in Gaborone, Botswana. (Ben Perry/Armoury Films/De Beers)