Forevermark to Make Greater Use of De Beers Name

RAPAPORT... De Beers will associate its corporate identity more closely with Forevermark, enabling the diamond-jewelry brand to benefit from group-wide efforts in the realm of sustainability and responsible sourcing."Aligning Forevermark more closely with the De Beers name will ensure Forevermark more directly maximizes the benefit of its association with De Beers, and that we have a single, unified and powerful social-purpose message we can deliver to consumers," a spokesperson for the mining company said Monday.Last week, De Beers announced that its consumer and brands department would merge with its corporate affairs division, forming a new team - brands and consumer markets - focused on social purpose. De Beers has been able to display its own brand more widely since buying LVMH's 50% stake in De Beers Jewellers - its chain of high-end retail stores - in 2017. The deal gave the miner more control of its own name, which it has since attached to other businesses, including De Beers Group Industry Services, previously the International Institute of Diamond Grading and Research.Forevermark and De Beers Jewellers will remain distinct brands, the spokesperson noted. The company will speak to partners of the brands and announce updates in early 2021, it said.Image: Forevermark store inside J Vincent Jewelers, Colts Neck, New Jersey. (Ben Perry/Armoury Films/De Beers)