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
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
SourcingOct 08, 2026
Ethical Gem Fair Heads Back to BrooklynThe trade-only event includes buying opportunities as well as educational sessions on artisanal mining, the new Paraíba source, and more.
Events & AwardsOct 08, 2026
Pattons Fine Jewelry Sweeps Local Design ContestAra Chanakian, a jeweler at Pattons, took home top honors in every category at Jewelers of Louisiana’s annual jewelry design competition.
