De Beers Looks to India to Boost Demand for Natural Diamonds
It is partnering with retailer Tanishq on educating salespeople, shaping the in-store experience, and a “360-degree” marketing campaign.
On Wednesday, De Beers Group announced a new strategic collaboration with Tanishq, a retail chain that is a household name in India, with nearly 500 stores nationwide.
The announcement came at a press conference held in Mumbai and attended by De Beers Brands CEO Sandrine Conseiller and Ajoy Chawla, CEO of the jewelry division of Titan Company Ltd., Tanishq’s parent company.
Modeled on the partnership De Beers formed with U.S. retailer Signet Jewelers earlier this year, the collaboration with Tanishq includes educating both Tanishq staff and consumers about natural diamonds; shaping customers’ experiences around the stones; and a “360-degree” marketing campaign aimed in part at first-time diamond buyers.
The marketing campaign is still in the development phase, as Tanishq and De Beers work to identify the cities and towns where they should direct their focus.
At the press conference, Chawla said that while diamond jewelry currently accounts for about 20 percent of total jewelry sales in India by value—a market where gold reigns supreme—Tanishq’s share is higher.
Sales of diamond jewelry make up 30 percent of sales (in value terms) at Tanishq and its subsidiary, Carat Lane. And those sales are all natural diamonds; Tanishq does not sell lab-grown diamonds and has no plans to do so at present, Chawla said.
“In an increasingly man-made world where virtual living is becoming the norm, people crave authentic brands, real experiences, and value natural, wholesome products,” Chawla said in the press release announcing the partnership.
“All Tanishq diamonds are natural, rare, and valuable and have attracted our customers with innovative designs. The collaboration with De Beers will unlock new opportunity for both Tanishq and the diamond sector.”
The collaboration comes at a time when De Beers is grappling with declining diamond jewelry demand in China, where consumers are turning to gold amid the country’s economic uncertainties, and increased competition from lab-grown diamonds in its largest market, the U.S.
These headwinds, coupled with a surge in demand for diamond jewelry among Indian consumers, have made India the second-largest market for diamond jewelry in the world, surpassing China.
A De Beers spokesperson said according to the company’s data, Indian consumers now account for 11 percent of global diamond jewelry demand in value terms, while China’s share of demand has slipped to a single-digit percentage.
The U.S. remains the largest market for diamond jewelry, accounting for more than half of global demand in value terms, the spokesperson said.
In addition to marketing natural diamonds, De Beers and Tanishq are exploring supply chain agreements, “especially when there are requirements for large quantities of similar stones for special [jewelry] collections,” Chawla said at the press conference.
They are also cooperating on diamond traceability and lab-grown diamond detection technologies.
Tanishq’s manufacturing arm already uses De Beers’ technology for detecting lab-grown diamonds. The company may start using De Beers’ new retail countertop diamond verification instrument at its stores, Chawla said.
Tanishq is part of Mumbai-headquartered conglomerate The Tata Group and has more than 475 stores in more than 270 cities across India.
The jeweler opened a store in the U.S. in New Jersey in 2023, and added two more later that same year.
It opened a fourth U.S. store in Chicago earlier this year.
—Stephen Rego, a Mumbai-based journalist, contributed to this report.
The Latest
Estimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
The highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
Carrie Forman joins the brand to guide it into the next phase of growth with major and independent retailers in the U.S. and abroad.
The high jewelry collection features 14 one-of-a-kind pieces, with serpent and ribbon motifs winding their way through the collection.
While no reputable jeweler would knowingly sell lab-grown stones as natural, it's a growing possibility.
A federal judge gave Benjamin Preacher 59 days in jail, plus 10 months of home confinement and two years of supervised release.
In a CNBC interview, CEO Tehmasp Printer discussed the IPO in India and what declining lab-grown diamond prices mean for the company.
The offering included vintage Rolexes, timepieces worn in “Titanic,” Steve McQueen's watch, and a special Citizen pocket watch.
The 13-piece “Stephanie Gottlieb x Studs” collection is the piercing studio’s first fine jewelry offering to feature the gemstone.
The Brazilian jewelry brand made a home on New York City’s Madison Avenue with exclusive pieces only available at the location.
An Adobe Analytics report explored the rise in mobile shopping, the popularity of Buy Now Pay Later options, and peak shopping hours.
The inaugural Dick Greenwood Memorial Scholarship in Gems Science will cover the fall 2025 and spring 2026 semesters.
A Piazza Italia pavilion will feature Italian designers and manufacturers while “MJSA Showcase” brings over a piece of the MJSA Expo.
“Ray Griffiths: The Works” tells the story of the master jeweler’s career, which started with an apprenticeship in Australia at age 15.
Davis is the director of business development at Select Jewelry Inc., and Mobley is the jewelry and watch editor at the Natural Diamond Council.
The retailer has been upping its marketing spend to drive revenue growth and brand awareness.
Mike Straub and John Treiber opened Treiber & Straub in 1980 with the goal of bringing Milwaukeeans the best jewelry brands.
The color for 2025, “Mocha Mousse,” embodies thoughtful indulgences and everyday pleasures.
The Yoruba word for ant, “Kokoro” embodies the strength of womanhood in ant society while highlighting responsible sourcing.
The retailer’s jewelry sales doubled, with branded jewelry performing especially well.
The jewelry retailer addressed the lab-grown diamond “disruption,” the price of gold, and its holiday weekend performance.
A more positive view of the current labor market boosted the Conference Board’s index last month.
The director of the Swiss Gemmological Institute (SSEF) will be honored for his impact on gemology and dedication to advancing the science.
Sponsored by 2025 AGTA GemFair Tucson