As Valentine’s Day Nears, Forevermark’s Charles Stanley Distills Diamond Endurance

As Valentine’s Day Nears, Forevermark’s Charles Stanley Distills Diamond Endurance

According to Forevermark President Charles Stanley, diamonds are pandemic-proof. While the Coronavirus revealed the vulnerability of many business sectors such as goods and especially services, the diamond withstood this economic volatility. De Beers - the parent group of Forevermark - coined the term 'A Diamond is Forever' in 1947 and it was voted Slogan of the Century by Advertising Age. It's further proved its resilience through 2020 when Covid-19 wreaked havoc on lives, livelihoods and commerce. Forevermark President Charles Stanley said while the jewelry industry dipped drastically in Q2 of 2020, the rebounds were solid for diamonds.

Holiday Jewelry Joy 

"Jewelry is quite a high touch business, so store closings were not keen from a sales perspective,“ Stanley said, "the sector was down 70 percent, but it picked up in Q3 and Q4 and ended the year only down -16 percent.“ He pointed out that diamond jewelry outperformed other jewelry being the least affected overall when it came to discretionary spending. A survey conducted by Forevermark for their jewelry vendors showed diamond jewelry sales up +5 percent YOY and holiday period figures were even higher at +7 percent.

He attributes this to several factors: the comfortably employed continuing to spend discretionary income, the