Titan Company Limited’s fine jewellery brand Tanishq has announced a long-term strategic collaboration with global diamond business De Beers Group to promote natural diamonds in the Indian market, engage with shoppers, and tap into opportunities for growth.
“India’s love affair with diamonds has flourished over thousands of years, and we are thrilled to partner with Tanishq to unlock the full potential of this vibrant market,” said De Beers Brands’ CEO Sandrine Conseiller in a press release. “Like De Beers, Tanishq recognises the power, preciousness and prestige of natural diamonds and combining our expertise with their deep understanding of the Indian market, we will work together to create something special to connect more Indian consumers to these natural treasures and their enduring value.”
India’s growing middle class has fuelled demand for natural diamond jewellery. This has contributed to India replacing China as the second largest market in the world for natural diamond jewellery.
However, diamond purchasing in India is still significantly below levels in the US and both Tanishq and De Beers see this as presenting a strong opportunity for growth in the country. Through the partnership, the businesses will roll out education, marketing, and consumer engagement initiatives to boost demand for natural diamonds and studded jewellery.
“The opportunity in India for diamonds is massive, given the very low penetration of studded jewellery and the rising per capita incomes in the world’s most populous country,” said Titan Company Limited’s jewellery division CEO Ajoy Chawla. “Tanishq has been a pioneer in democratising diamond jewellery in the market for three decades and has always targeted the modern progressive woman. Tanishq Diamonds adhere to strictest standards, with all diamonds responsibly sourced in compliance with the Kimberley Process Certification Scheme (KPCS) and the Tanishq Suppliers Engagement Protocol (TSEP).”
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