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With gold and diamond prices touching new high, large corporates are venturing into lab grown diamond jewellery as a cheaper alternate to masses.
Tata Group’s fashion retail company Trent has launched a new lab-grown diamond (LGD) brand ‘Pome’, while Senco Gold and Diamonds unveiled a new luxury brand Sennes on the global stage at the Milan Fashion Week Spring-Summer 2025.
Trent has introduced Pome in select Westside stores in Mumbai, Bengaluru, Hyderabad and Gurgaon and expects to carve out an LGD jewellery brand through roll out of Exclusive Brand Outlets.
Zudio of jewellery segment
Calling Pome as the Zudio of jewellery segment, Kotak Equities in a report said one-carat solitaire engagement ring is priced at ₹24,000-29,000 while the same in Pome LGD jewellery will be priced at about ₹13,000-17,000 a carat.
On an average, the report said Pome’s pricing could be at 30 per cent discount to natural diamond studded jewellery and 80-85 per cent discount to high value natural diamond studded jewellery of ₹5 lakh, it said.
On the other hand, Senco Gold plans to create a separate business vertical by launching suite of products including LGD and silver jewellery, luxury leather handbags and perfumes.
Real deal
Sennes will offer new-age luxury with an eco-conscious approach. LGDs match the mined diamonds in all its properties at a much lesser pocket pinch. All the physical and chemical properties of LGDs are identical to that of a mined diamond, which are certified by trusted bodies such as GIA, IGI and SGL across the globe.
Suvankar Sen, MD & CEO, Senco Gold said the response from the four Sennes stores launched in Kolkata has been very encouraging and the company plans to invest ₹20 crore in the new line of business under the new brand.
“We do not expect Sennes’ LGD jewellery to eat into real diamond sales as Senco and the new brand cater to different audiences. All the products under Sennes will be made in India and will contribute about 3-5 per cent of our overall sales in 5 years,” he said.
The Indian market for LGD jewellery is expected to get broad-based with the entry of large corporates with products at affordable price points and their presence can accelerate LGD penetration.
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