Amid intense competition from lab grown diamonds, Tanishq, a leading jewellery brand and De Beers, the world’s leading diamond company, have joined hands to promote natural diamonds across India.
The collaboration will capitalise on Tanishq’s deep understanding of the Indian market built up over three decades, combined with De Beers’ expertise in the diamond category, to deepen consumer desire for and confidence in natural diamonds, underscoring their inherent value, rarity and timelessness.
Authenticity
Tanishq already uses De Beers’ proprietary diamond verification technology to support the assurance of the authenticity of its products. The two parties are also in talks to collaborate on traceability and strengthening Tanishq diamond supply needs and further opportunities to use De Beers’ proprietary technologies to support pipeline integrity.
Ajoy Chawla, CEO, Jewellery Division, Titan Company said the demand of diamonds is still very strong and of the ₹45,000 crore of company’s turnover last year about 30 per cent was of diamond jewellery.
Both lab grown diamond and natural diamond have different audience with lab grown catering to the fashion industry while natural diamond targeting the aspiring consumers, he said.
The natural diamond has huge market as the penetration of studded jewellery is still very low and with the rising per capita incomes the demand will increase steadily, he said.
Strictest standards
Tanishq Diamonds adhere to strictest standards, with all diamonds responsibly sourced in compliance with the Kimberley Process Certification Scheme and the Tanishq Suppliers Engagement Protocol.
Chawla said some of the jewellers who have sold their lab grown diamond wares through a buyback offer will face challenges as prices have been falling steadily.
“We offer our own certificate of Tanishq Diamond guarantee and have the most transparent buyback policy in India, enabling trust and peace of mind for our customers,” he added.
Sandrine Conseiller, CEO, De Beers Brands said with the deep understanding of the Indian market, both companies will work together to create something special to connect more Indian consumers to these natural treasures and their enduring value.