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Main diamond firm De Beers Group and jewelry retail model Tanishq, on Wednesday introduced a long-term collaboration to advertise the sale and consumption of pure diamonds and develop the Indian marketplace for the valuable stone.
The demand for pure diamond jewelry from Indian customers has surged just lately and now represents 11% of world demand. This has seen India change China because the second largest market on this planet for pure diamond jewelry, the entities stated.
With diamond acquisition charges in India nicely under these in mature markets such because the US, this gives a major alternative to catalyse additional development for pure diamond jewelry in India, they added.
Tanishq which retails jewelry to about 3.5 million clients a yr expects its shopper base for pure diamond studded jewelry to simply double from the present 1 million within the coming years.
The companions stated they might focus to boost shopper schooling, curiosity and confidence, and to advertise pure diamonds throughout India. The collaboration will concentrate on constructing in depth shopper outreach, deepening capabilities of Tanishq’s retail employees to speak about pure diamonds.
Sandrine Conseiller, CEO, De Beers Manufacturers, stated “Like De Beers, Tanishq recognises the facility, preciousness and status of pure diamonds and mixing our experience with their deep understanding of the Indian market, we are going to work collectively to create one thing particular to attach extra Indian customers to those pure treasures and their enduring worth.”
Ajoy Chawla, CEO, Jewelry Division, Titan Firm Ltd, stated, “The chance in India for diamonds is very large, given the very low penetration of studded jewelry and the rising per capita incomes on this planet’s most populous nation.”
L to R: Ajoy Chawla, CEO, Jewelry Division, Titan Firm Restricted and Sandrine Conseiller, CEO of De Beers Manufacturers, on the press convention, to announce Tanishq and De Beers forging strategic collaboration to spice up India’s pure diamond jewelry market. Particular association.
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“Tanishq has been a pioneer in democratising diamond jewelry out there for 3 many years and has all the time focused the fashionable progressive girl. Tanishq Diamonds adhere to strictest requirements, with all diamonds responsibly sourced in compliance with the Kimberley Course of Certification Scheme (KPCS) and the Tanishq Suppliers Engagement Protocol (TSEP),” he stated.
“We provide our personal certificates of Tanishq Diamond assure and have probably the most clear buyback coverage in India, enabling belief and peace of thoughts for our clients,” he added.
