De Beers opens its largest Forevermark store in Mumbai, expanding in India amid rising demand and shifting strategy.

De Beers is expanding its Indian retail footprint with the opening of its largest Forevermark store in Mumbai, aiming to open 25 stores by 2026 and 100 globally by 2030, as India emerges as its second-largest market after the U.S. The move targets rising affluence in smaller cities and growing demand for natural diamonds, despite global challenges like weak China demand and U.S. tariffs on Indian exports. The company is shifting toward self-purchases in India and exploring franchise models, while also discontinuing its lab-grown jewelry brand Lightbox.