De Beers Group has appointed retail veteran Mallikarjuna Reddy Yarabolu as Managing Director for Forevermark India, effective January 2026, as part of the company’s strategic push to grow its presence in the fast-evolving Indian diamond jewellery market.
Yarabolu brings over 20 years of leadership experience spanning fashion, retail, FMCG and luxury. Most recently, he was Chief Revenue Officer at Arvind Fashions Limited, driving sales and revenue strategy for brands including U.S. Polo Assn., Arrow and Flying Machine. Announcing his departure on LinkedIn, he expressed his gratitude, writing that he was “deeply thankful to Sanjay Lalbhai, Kulin Lalbhai and Shailesh Chaturvedi for their complete trust in assigning me, at the peak of winter 2022, the responsibility to rebuild, transform, establish and stabilise the business, set robust processes, build high-quality and happy teams, re-ignite confidence, strengthen distribution presence, elevate consumer service and infuse positivity.”
Earlier, Yarabolu spent six years at Nestlé India, where he led Food Service & Retail formats — including Maggi Hotspots, KitKat Break Zones, Milk Booths and Nescafé kiosks — overseeing more than 750 outlets nationwide and pioneering branded QSR collaborations. His career also includes key roles at Aditya Birla Fashion and Retail Ltd. as Director – Sales at Peter England, Walmart India, and Godrej Agrovet.
What Yarabolu’s Appointment Means for De Beers in India
Yarabolu’s appointment comes amid a decisive strategic shift by De Beers to deepen its footprint in India’s burgeoning diamond jewellery sector. India has become the world’s second-largest market for natural diamond jewellery, with demand expected to grow strongly in the coming years as incomes rise, premiumisation accelerates and organised retail expands.
Under its Forevermark brand, De Beers has moved from selling loose diamonds to establishing a standalone retail jewellery presence in India, with plans to open 15 new stores across India in 2025 and ultimately reach 100 outlets by 2030.
The company’s focus on the Indian market reflects its confidence in long-term growth — with some forecasts projecting diamond jewellery demand in India could double (US $20 Billion) by 2030 — and positions Forevermark to capture a bigger share of the premium, branded jewellery segment.
Yarabolu’s track record in scaling organisations, driving channel expansion, and building high-performance teams is expected to play a key role in executing this next phase of growth for Forevermark in India, as consumer aspiration and organised retail continue to reshape the industry landscape.
