De Beers Forevermark opens its first store in Hainan

By Ding Xin / / Updated: 17:25,14-January-2022

De Beers Forevermark Diamond Jewellery opened its first store in the CDF duty-free shop in November. The shop is located on the L floor of the Sagittarius Building in Haikou’s Mova Mall. Customers can be seen visiting the shop’s counter. FENG SHUO / HAINAN DAILY

"In 2021, sales in the Hainan island departure duty-free shops exceeded CNY 60 billion, which shows the prosperity of the departure duty-free market," said Wu Feng, Vice President of Business Transformation & Operations of De Beers Forevermark Diamond Jewellery. "De Beers Forevermark is accelerating its establishment pace in Hainan. As a member of the duty-free market in Hainan, we believe that De Beers Forevermark products will be welcomed by more and more consumers.”

De Beers Forevermark is a diamond brand from De Beers Group, which has a vast history of diamond expertise spanning back more than 130 years. In the past year, this brand has cooperated deeply with the Hainan Free Trade Port.

In May 2021, the first China International Consumer Products Expo (Hainan Expo) was held in Haikou, capital of China’s Hainan Province, and De Beers Forevermark Diamond Jewellery participated in the Expo, putting its diamond products on display. This is the first time that the brand has displayed its diamond pieces on such a large scale in a comprehensive expo.

"The Hainan Expo is China's first national-level exhibition that focuses on consumer goods, and attending to the Expo is very compatible with our development needs," said Wu Feng, "The policies and measures of Hainan Free Trade Port have great attractions for us. While participating in the Expo, we also look forward to more opportunities to invest in the Hainan Free Trade Port."

Right after the first Hainan Expo, De Beers Forevermark decided to come to Hainan to invest immediately. On June 19, 2021, De Beers Forevermark signed a contract with the Hainan Provincial Bureau of International Economic Development and the Haikou Comprehensive Bonded Zone in Haikou to set up the De Beers Forevermark Hainan Free Trade Port Operation Center to further develop its supply chain in the Asia-Pacific region.

In the process of working on the project, Wu Feng found that the Hainan Free Trade Port not only has policy advantages but also has business environment advantages. "A large number of policies have been implemented in the Hainan Free Trade Port. At the same time, when handling some matters, we found that Hainan is the fastest and most efficient," said Wu Feng. De Beers Forevermark has registered a company in Haikou and has stepped up the construction of a processing plant in the Haikou Comprehensive Bonded Zone, which is expected to begin work in 2022.

In November, the first De Beers Forevermark store in Hainan opened in Haikou’s Mova Mall, one of Haikou's largest shopping malls. The mall occupies 12 buildings on Guoxing Avenue. De Beers Forevermark implemented the construction and planning of the supply chain, processing, manufacturing, and distribution in Hainan Free Trade Port to further push the duty-free market forward, and the new shop has proved popular with many shoppers.

At present, the brand is actively carrying out preparations for participation in the 2022 Consumer Expo and plans to further expand investment in the Hainan Free Trade Port to seize the development opportunities of the FTP. "We are very confident in investing in Hainan," said Wu Feng.



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