De Beers and Tanishq collaborate to elevate India’s natural diamond market

As India emerges as the world’s second-largest market for natural diamond jewellery, De Beers’ and Tanishq’s strategic alliance will amplify its enduring value

Mumbai: Leading diamond company De Beers Group and Tanishq, India’s largest jewellery retail brand from the Tata group, today announced a long-term strategic collaboration. This partnership aims to connect more Indian consumers with the rarity and preciousness of natural diamonds and amplify the growing opportunity in the Indian market.

India’s vibrant economy, growing middle class, and discerning consumers who seek jewellery with enduring value have led to a surge in demand for natural diamond jewellery. The country now represents 11 per cent of global demand, replacing China as the second-largest market worldwide for natural diamond jewellery. With diamond acquisition rates in India well below those in mature markets such as the US, there is significant potential for further growth.

To unlock this growth opportunity, Tanishq and De Beers have agreed to enhance consumer education, interest, and confidence, promoting natural diamonds across India. The collaboration will leverage Tanishq’s three decades of experience in the Indian market and De Beers’ expertise in the diamond category to deepen consumer desire for and confidence in natural diamonds, underscoring their inherent value, rarity, and timelessness.

Key focus areas of the collaboration are:

• Building extensive consumer outreach
• Deepening capabilities of Tanishq’s retail staff to communicate about natural diamonds
• Educating consumers about authenticity
• Shaping customer experiences as they explore their desire for natural diamonds and studded jewellery
• Implementing a comprehensive 360-degree marketing campaign to build awareness and expand the customer base, including first-time buyers

This new collaboration builds on the existing relationship between Tanishq and De Beers. Tanishq already uses De Beers’ proprietary diamond verification technology to ensure the authenticity of its products. The two companies are also exploring opportunities to collaborate on traceability, meeting Tanishq’s diamond supply needs, and further utilising De Beers’ proprietary technologies to support pipeline integrity.

Sandrine Conseiller, CEO of De Beers Brands, expressed enthusiasm for the partnership, stating, “India’s love affair with diamonds has flourished over thousands of years, and we are thrilled to partner with Tanishq to unlock the full potential of this vibrant market. Like De Beers, Tanishq recognises the power, preciousness and prestige of natural diamonds, and combining our expertise with their deep understanding of the Indian market, we will work together to create something special to connect more Indian consumers to these natural treasures and their enduring value.”

Ajoy Chawla, CEO of the Jewellery Division at Titan Company Limited, highlighted the massive opportunity in India for diamonds, given the low penetration of studded jewellery and rising per capita incomes. He also emphasised Tanishq’s commitment to responsible sourcing and transparency, offering customers trust and peace of mind through their diamond guarantee and buyback policy. Chawla added, “In an increasingly man-made world where virtual living is becoming the norm, people crave authentic brands, real experiences and value natural, wholesome products. All Tanishq Diamonds are natural, rare and valuable and have attracted our customers with innovative designs. The collaboration with De Beers will unlock new opportunities for Tanishq and the diamond sector, celebrating the eternal beauty of these miracles of nature.”

Retail Jeweller India News