Through this strategic investment, Augmont plans to open 100 Akoirah stores over the next three years, according to Ketan Kothari, Director of Augmont Gold
Mumbai: With the rising demand for lab-grown diamonds in India, gold trading platform Augmont is making a significant foray into the segment. The company has announced an investment of Rs 100 crore to expand into the lab-grown diamond (LGD) market with the launch of its new brand, Akoirah, according to a statement by the brand.
Through this strategic investment, Augmont plans to open 100 Akoirah stores over the next three years, according to Ketan Kothari, Director of Augmont Gold. “The initial investment outlay is Rs 100 crore for these stores. Later, there will be a combination of franchisee and company-owned stores, with additional funds allocated accordingly,” Kothari stated.
The global lab-grown diamond market is projected to reach $1.2 billion by 2033, presenting a significant opportunity for branded players to establish themselves. Kothari believes India currently lacks trusted names in the segment, making it an opportune moment for Akoirah to capitalize on the growing demand for sustainable and ethical diamonds.
As the Indian government continues to promote growth and employment in the lab-grown diamond sector, Augmont sees the industry as a game-changer for fine jewellery, and aims to offer diamonds that are ethical, sustainable and accessible.
Augmont plans to enter the LGD market, leveraging its sourcing capabilities and technological expertise. Akoirah jewellery will feature 100% pure recycled gold and responsibly sourced lab-grown diamonds, offering consumers a sustainable choice without compromising on brilliance or quality.
With established players already in the space, Akoirah will seek to differentiate itself through an omni-channel retail strategy. The brand intends to leverage Augmont’s existing base of over four crore digital gold consumers while expanding its offline presence.
“With prices starting at Rs 5,000, Akoirah will cater to a diverse customer base across the country. From a seamless online shopping experience to a strong offline presence, the brand plans to expand to 300 stores across India, ensuring customers nationwide can access fine diamond jewellery backed by Augmont’s legacy of trust and value,” Kothari added.
Augmont – Gold for All is one of India’s leading gold and silver refineries, providing the SPOT platform for seamless online trading of precious metals. The company offers a comprehensive range of services, including gold loans, digital gold, gold coins and bars, old gold selling and jewellery.
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