As gold and diamond prices reach record highs, major corporations are exploring lab-grown diamond jewellery as a more affordable alternative for consumers.
Tata͏͏ Group’s͏͏ fashion͏͏ retail͏͏ arm,͏͏ Trent,͏͏ has͏͏ introduced͏͏ a͏͏ new͏͏ lab-grown͏͏ diamond͏͏ brand͏͏ called͏͏ ‘Pome,’͏͏ while͏͏ Senco͏͏ Gold͏͏ and͏͏ Diamonds͏͏ debuted͏͏ its͏͏ luxury͏͏ brand,͏͏ Sennes,͏͏ at͏͏ the͏͏ Milan͏͏ Fashion͏͏ Week͏͏ Spring-Summer͏͏ 2025.
Trent͏͏ has͏͏ launched͏͏ Pome͏͏ in͏͏ select͏͏ Westside͏͏ stores͏͏ across͏͏ Mumbai,͏͏ Bengaluru,͏͏ Hyderabad,͏͏ and͏͏ Gurgaon,͏͏ with͏͏ plans͏͏ to͏͏ establish͏͏ an͏͏ LGD͏͏ jewellery͏͏ brand͏͏ through͏͏ the͏͏ rollout͏͏ of͏͏ Exclusive͏͏ Brand͏͏ Outlets.
Competitive͏͏ Pricing:͏͏
Describing͏͏ Pome͏͏ as͏͏ the͏͏ Zudio͏͏ of͏͏ the͏͏ jewellery͏͏ segment,͏͏ Kotak͏͏ Equities͏͏ in͏͏ a͏͏ report͏͏ noted͏͏ that͏͏ a͏͏ one-carat͏͏ solitaire͏͏ engagement͏͏ ring͏͏ is͏͏ priced͏͏ between͏͏ INR͏͏ 24,000͏͏ and͏͏ INR͏͏ 29,000,͏͏ whereas͏͏ a͏͏ similar͏͏ ring͏͏ in͏͏ Pome’s͏͏ LGD͏͏ jewellery͏͏ will͏͏ cost͏͏ approximately͏͏ INR͏͏ 13,000͏͏ to͏͏ INR͏͏ 17,000͏͏ per͏͏ carat.
On͏͏ average,͏͏ the͏͏ report͏͏ indicated͏͏ that͏͏ Pome’s͏͏ pricing͏͏ could͏͏ be͏͏ about͏͏ 30%͏͏ lower͏͏ than͏͏ natural͏͏ diamond-studded͏͏ jewellery͏͏ and͏͏ 80-85%͏͏ lower͏͏ than͏͏ high-value͏͏ natural͏͏ diamond-studded͏͏ pieces͏͏ priced͏͏ at͏͏ INR͏͏ 5͏͏ lakh.
Continue͏͏ Exploring:͏͏ Tata’s͏͏ Trent launches͏͏ Zudio͏͏ Beauty͏͏ to͏͏ compete͏͏ in͏͏ mass-priced͏͏ beauty͏͏ segment
Conversely,͏͏ Senco͏͏ Gold͏͏ intends͏͏ to͏͏ establish͏͏ a͏͏ separate͏͏ business͏͏ vertical͏͏ by͏͏ launching͏͏ a͏͏ range͏͏ of͏͏ products,͏͏ including͏͏ LGD͏͏ and͏͏ silver͏͏ jewelry,͏͏ luxury͏͏ leather͏͏ handbags,͏͏ and͏͏ perfumes.
Sennes͏͏ aims͏͏ to͏͏ provide͏͏ modern͏͏ luxury͏͏ with͏͏ an͏͏ eco-friendly͏͏ focus.͏͏ LGDs͏͏ possess͏͏ the͏͏ same͏͏ physical͏͏ and͏͏ chemical͏͏ properties͏͏ as͏͏ mined͏͏ diamonds,͏͏ but͏͏ at͏͏ a͏͏ significantly͏͏ lower͏͏ cost.͏͏ These͏͏ lab-grown͏͏ diamonds͏͏ are͏͏ certified͏͏ by͏͏ reputable͏͏ organizations͏͏ such͏͏ as͏͏ GIA,͏͏ IGI,͏͏ and͏͏ SGL͏͏ worldwide.
Continue͏͏ Exploring:͏͏ Senco Gold expects͏͏ 12%͏͏ revenue͏͏ growth͏͏ this͏͏ festive͏͏ season
Suvankar͏͏ Sen,͏͏ MD͏͏ &͏͏ CEO͏͏ of͏͏ Senco͏͏ Gold,͏͏ stated͏͏ that͏͏ the͏͏ response͏͏ to͏͏ the͏͏ four͏͏ Sennes͏͏ stores͏͏ opened͏͏ in͏͏ Kolkata͏͏ has͏͏ been͏͏ very͏͏ encouraging.͏͏ The͏͏ company͏͏ plans͏͏ to͏͏ invest͏͏ INR͏͏ 20͏͏ crore͏͏ in͏͏ this͏͏ new͏͏ line͏͏ of͏͏ business͏͏ under͏͏ the͏͏ Sennes͏͏ brand.
“We͏͏ do͏͏ not͏͏ anticipate͏͏ that͏͏ Sennes’͏͏ LGD͏͏ jewellery͏͏ will͏͏ impact͏͏ real͏͏ diamond͏͏ sales,͏͏ as͏͏ Senco͏͏ and͏͏ the͏͏ new͏͏ brand͏͏ target͏͏ different͏͏ audiences.͏͏ All͏͏ products͏͏ under͏͏ Sennes͏͏ will͏͏ be͏͏ manufactured͏͏ in͏͏ India͏͏ and͏͏ are͏͏ expected͏͏ to͏͏ contribute͏͏ about͏͏ 3-5%͏͏ of͏͏ our͏͏ overall͏͏ sales͏͏ within͏͏ five͏͏ years,”͏͏ he͏͏ said.
Lab-Grown Diamond Market Set͏͏ for͏͏ Growth:
The͏͏ Indian͏͏ market͏͏ for͏͏ LGD͏͏ jewellery͏͏ is͏͏ anticipated͏͏ to͏͏ become͏͏ more͏͏ diverse͏͏ with͏͏ the͏͏ entry͏͏ of͏͏ major͏͏ corporations͏͏ offering͏͏ products͏͏ at͏͏ affordable͏͏ price͏͏ points,͏͏ which͏͏ can͏͏ help͏͏ accelerate͏͏ the͏͏ penetration͏͏ of͏͏ LGD͏͏ in͏͏ the͏͏ market.
