SourcingJul 25, 2024
De Beers’ H1 Revenue Falls 21% in ‘Weak’ MarketSourcingAug 29, 2024
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.
Ajoy Chawla, CEO of Titan Company Ltd.’s jewelry division, (left) and De Beers Brands CEO Sandrine Conseiller pose with diamonds at a joint press conference held Wednesday in Mumbai, India. De Beers and retailer Tanishq, which is owned by Titan, are teaming up in an effort to boost demand for natural diamonds in India.
Mumbai, India—With diamond jewelry demand facing headwinds in both the United States and China, De Beers Group is turning to another market to bolster demand, and it is partnering with the country’s largest jeweler to do it.
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.”
Related stories will be right here …
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.
More on Sourcing
The Latest
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
MajorsSep 29, 2025
Overnight Releases New Bridal CatalogThe “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in CanadaThe New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.
TrendsSep 29, 2025
Amanda’s Style File: Ear FocusMove over neck mess, the ear story is the way to make a layering statement today.
Weekly QuizSep 25, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard SaysHoliday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky RingThe red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-InA trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond ProductionThe manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHoThe jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.
WatchesSep 25, 2025
Wilson & Son Jewelers Donates to the Horological Society of New YorkThe Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.
Policies & IssuesSep 24, 2025
Tariffs Throw Diamond Trade Into DisarrayThe 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.
Policies & IssuesSep 24, 2025
For Jewelry Manufacturers, Higher Tariffs Create Long-Term WorriesThey are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.
SourcingSep 24, 2025
A Helping Hand: An Effort to Boost Inclusivity in the IndustryJewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.
CollectionsSep 24, 2025
Greenwich St. Jewelers Goes Back in Time With First Estate CollectionThe collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.
Policies & IssuesSep 24, 2025
Diamonds Do Good Names Marcus ter Haar as President-ElectHe previously served as co-chair of the nonprofit’s beneficiary committee.
CollectionsSep 24, 2025
Brilliant Earth’s New Jane Goodall Collection Calls for PeaceIts second collaboration with the conservationist features jewelry with dove and olive branch motifs.
SourcingSep 24, 2025
SRK Launches Kriam PharmaThe diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.
ColumnistsSep 23, 2025
Quiet Luxury: What Fall’s Top Trend Means for JewelersEmmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.
MajorsSep 23, 2025
Ames Watson Completes $140M Acquisition of Claire’sThe private equity firm has a plan to revive the mall staple.
SourcingSep 23, 2025
Super Smalls’ New Book Introduces Kids to Gems, Fine JewelryThe “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.
MajorsSep 23, 2025
Mattioli Names Kering Exec as New CEOClaudio Pasta will take the lead at the Italian fine jewelry brand, succeeding company founder Licia Mattioli.
CollectionsSep 23, 2025
Monique Lhuillier Adds Fashion Jewelry to Kay Jewelers LineThe new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.
SourcingSep 22, 2025
Rio Tinto Announces Final ‘Beyond Rare’ TenderThe miner is honoring the end of an era with an offering of 52 lots from the now-closed Argyle and the soon-to-close Diavik mines.
MajorsSep 22, 2025
Jewelry Manufacturer Vibhor Acquires AlorThe California-based fine jewelry brand will retain its identity post-acquisition, with new collections launching next year.
