The brand plans to grow from five existing stores in India to over 20 franchise outlets by 2026
Mumbai: Zen Diamond has entered into a partnership with Francorp, the consulting arm of Franchise India Brands Limited, to propel its next phase of growth in India through a structured franchise model. The move is aimed at increasing the brand’s retail presence across Tier I and Tier II markets over the next two years.
As part of this strategy, Zen Diamond plans to grow its footprint in India to more than 20 franchise outlets by 2026. The expansion will focus on stores located in malls and high-street locations, as the company looks to tap demand from consumers shifting towards organized jewellery retail.
India’s diamond jewellery market crossed $8.7 billion in early 2025 and is projected to grow at a compound annual growth rate of over 9% through 2030. Branded diamond jewellery accounts for over 40% of sales in Tier I cities, while Tier II markets contribute close to 20%, reflecting increasing participation from non-metro regions.
“Zen Diamond is entering a pivotal growth phase in India, where consumers are actively seeking specialized diamond brands they can trust,” said Neil Sonawala, Managing Director, Zen Diamond India. “With a global footprint of 450 stores, and a modern, design-driven identity, we are ideally positioned for Tier I and Tier II markets. Our partnership with Francorp will enable us to scale high-quality franchise stores while ensuring product innovation, service excellence, and transparency remain core to our brand.”
Gaurav Marya, Foremost Business Advisor, Francorp and Chairman, Franchise India Group, said, “Specialized diamond brands like Zen operate at the convergence of global aspiration and India’s evolving luxury mindset. Tier I and Tier II consumers are increasingly gravitating towards branded, design-led, trustworthy jewellery experiences. With its international legacy and clear operating metrics, Zen Diamond is well placed to create a strong franchise ecosystem delivering sustained returns while upholding global brand standards.”
Zen Diamond’s brand presence is supported through partnerships, including its association with Jennifer Lopez as global brand ambassador and collaborations with retail platforms such as Pernia’s Pop-Up Shop, which contribute to its visibility across physical and digital channels.
Founded in Istanbul in 2000, with jewellery-making roots dating back to 1890, Zen Diamond operates over 450 stores across 22 countries. In India, the brand currently runs five stores in Mumbai, Bengaluru and Chandigarh.
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