Customisation at the Core

Darayus Mehta, Founder of True Diamond, tells The Retail Jeweller his overarching ambition of reshaping luxury by offering differentiated large sizes and colours of lab-grown diamonds.

Drawing from extensive FMCG experience with L’Oreal and Marico, and digital brand-building expertise from Beardo, Darayus Mehta launched True Diamond with a co-founder skilled in jewellery manufacturing. True Diamond is raising the bar for online jewellery brands by customising designs in record time, and assigning individual jewellery experts (not bots) for each customer enquiry while educating customers on how the savings on lab-grown diamonds hold the potential to increase their investment portfolio.

Edited Excerpts:

Achal Chaubey (AC): Can you outline the strategic vision for True Diamond in the jewellery market?

Darayus Mehta (DM): True Diamond positions itself as a contemporary luxury brand specialising in innovative lab-grown solitaire jewellery. Our focus is on becoming the preferred choice for larger stones and modern designs, catering to consumers who seek distinctive pieces for events such as cocktail parties. True Diamond’s success is driven by innovative products such as Batman-shaped and coloured diamonds in pink, yellow, and blue options. Our brand aims to transform conventional views of diamond jewellery by offering affordable yet luxurious alternatives.

AC: How do you view the consumer segment for lab-grown diamonds? How has it grown?

DM: The market for lab-grown diamonds has seen significant growth, particularly in the US, where they now account for 60 per cent of all diamond sales by volume. In India, although adoption rates are lower, interest has surged dramatically, with search queries increasing 100-fold since June last year. This trend reflects increasing acceptance driven by affordability and ethical considerations. Lab-grown diamonds are appealing to traditional buyers and reaching a new middle-class demographic.

“True Diamond’s success is driven by innovative products such as Batman-shaped and coloured diamonds in pink, yellow, and blue options.”
– Darayus Mehta, Founder, True Diamond

AC: Indian customers are conditioned to buy-backs and gainful exchange value. With lab-grown diamond rates steadily going down, how do you manage such expectations?

DM: We do not offer a cashback policy; instead, we provide a buyback and exchange policy. For exchanges, we offer 80 per cent of the prevailing market rate, which often confuses customers. It is not based on the rate at which we sold the diamond. Many brands promote high cashback offers, but we believe lab-grown diamonds’ value may decrease over time, not increase. We expect prices to eventually plateau due to market dynamics.

We emphasise that lab-grown diamonds should be viewed as luxury items for personal enjoyment rather than investment. While mined diamonds retain better resale value, the significant savings with lab-grown diamonds make them a smarter choice overall. The money saved can be used for financial gains through investment in other instruments, while diamonds per se should not be viewed from the same lens.

AC: Which cities do you serve, and are you planning to expand internationally?

DM: True Diamond began operations in January 2024. We currently serve customers across India and are expanding into the US. So far, we have completed about 350 orders in 25 to 30 cities, with over 50 per cent coming from tier-2 towns. While we also cater to metropolitan areas, demand from smaller cities has been significant.

“We specialise exclusively in custom-made fine jewellery, with about 95 per cent of our orders being tweaked to individual customer specifications, whether it is a design tweak or a size adjustment.”

AC: What unique services or USPs does your brand offer that set you apart in the market with new lab-grown brands launching every day?

DM: One of our standout services is assigning a dedicated jewellery expert to every customer enquiry. We do not use bots; instead, customers receive personalised service tailored to their needs. Our team is always available to answer questions, fostering strong relationships with clients. We specialise exclusively in custom-made fine jewellery, with about 95 per cent of our orders being tweaked to individual customer specifications, whether it is a design tweak or a size adjustment. Our streamlined process ensures that we deliver these custom pieces within 14 days.

AC: What milestone or achievement do you envision for True Diamond in the next decade?

DM: True Diamond plans to open anchor stores in key cities. Global expansion is also a priority, leveraging efficient supply chain management and effective communication strategies. Ultimately, our goal is to establish True Diamond as a globally recognised luxury jewellery brand.

Written by Achal Chaubey