Tanishq and De Beers Forge Strategic Collaboration to Boost India’s Natural Diamond Jewellery Market

Partnership Aims to Enhance Consumer Education and Drive Growth in India’s Growing Diamond Market

India has emerged as the world’s second-largest market for natural diamond jewellery, and now De Beers Group, a global leader in diamonds, and Tanishq, India’s premier jewellery retailer from the Tata group, are joining forces. This long-term strategic collaboration aims to further connect Indian consumers with the allure and value of natural diamonds while tapping into the expanding market potential.

Expanding Market Opportunity

With India’s vibrant economy and a growing middle class, the demand for natural diamond jewellery has surged. Representing 11% of global demand, India has surpassed China as the second-largest market for natural diamond jewellery. Despite this growth, diamond acquisition rates in India remain relatively low compared to mature markets like the US, presenting a significant opportunity for further expansion.

Key Focus Areas of the Collaboration

The strategic alliance will focus on several key areas:

• Consumer Outreach: Extensive marketing campaigns and consumer engagement initiatives.
• Retail Staff Training: Enhancing the capabilities of Tanishq’s staff to effectively communicate the value and authenticity of natural diamonds.
• Consumer Education: Providing information on the authenticity and value of natural diamonds to boost confidence and interest.
• Customer Experience: Shaping and enriching the consumer journey to foster a deeper connection with natural diamonds and jewellery.

This collaboration builds on Tanishq’s existing use of De Beers’ diamond verification technology, ensuring product authenticity. Future discussions will explore opportunities for enhanced traceability and further integration of De Beers’ proprietary technologies.

Sandrine Conseiller, CEO of De Beers Brands, remarked, “India’s longstanding appreciation for diamonds is unmatched. We are excited to partner with Tanishq to fully realize the potential of this dynamic market. By combining our expertise, we aim to connect more Indian consumers with the timeless value of natural diamonds.”

Ajoy Chawla, CEO of the Jewellery Division at Titan Company Limited, added, “The potential for diamonds in India is immense, given the low penetration of studded jewellery and rising incomes. Tanishq’s pioneering efforts in democratizing diamond jewellery and its commitment to quality and transparency will be further strengthened through this collaboration. Our focus is on delivering genuine value and celebrating the eternal beauty of natural diamonds.”