MUMBAI (Diya TV) –Tanishq, India’s largest jewelry retailer, has signed a major long-term agreement with De Beers Group to enhance the allure of natural diamonds in the Indian market. The collaboration aims to educate consumers, instill confidence in natural diamonds, and capitalize on the rapidly growing demand in India, which has recently surpassed China as the world’s second-largest market for diamond jewelry, according to the joint statement.
The strategic alliance will see Tanishq, a brand of Titan Company Ltd., utilize De Beers’ diamond verification technology to assure customers of the authenticity of its products. This move aligns with De Beers’ strategy to boost diamond consumption in India, a country with a promising economy and an expanding middle class of increasingly discerning buyers.
The partnership will include an integrated marketing effort to raise consumer awareness about the rarity and value of natural diamonds. “The association with De Beers will give Tanishq a new direction and open new possibilities, not only for Tanishq but for the diamond category as a whole, in celebrating the timelessness of these natural gems,” said Ajoy Chawla, Chief Executive Officer of Tanishq’s Jewelry Division.
Tanishq operates more than 400 boutiques across India and has consistently been at the forefront of making diamond jewelry accessible to modern and progressive consumers. The brand will also invest in training its store employees on natural diamonds and De Beers’ technologies to further educate potential buyers.
The companies are targeting the significant opportunity presented by the low penetration of diamond jewelry in India compared to more mature markets. Since diamond jewelry accounts for 30% of Tanishq’s sales, increasing consumer confidence could drive stronger growth in a market traditionally dominated by gold.
India is the world’s most significant hub for cutting and polishing diamonds, with nine out of ten polished diamonds being processed there. Despite this, India’s exports of polished diamonds have fallen this year due to weaker demand from China, highlighting the need for new growth avenues.
The Tanishq-De Beers partnership will also explore opportunities in diamond traceability and enhancing the integrity of the diamond supply chain. This investment reflects a broader trend of increasing focus on natural diamonds amid growing interest in lab-grown alternatives.
Together, the two companies aim to tap into India’s expanding market potential, where diamond acquisition rates still lag behind those in mature markets like the United States. This collaboration seeks to position India as a major contributor to the global diamond economy.
