~ As India emerges as the world’s second-largest market for natural diamond jewellery, industry giants De Beers and Tanishq are joining forces to further elevate the appeal and value of these precious gems among Indian consumers.
De Beers Group, a global leader in diamonds, and Tanishq, India’s premier jewellery brand from the Tata group, have announced a long-term strategic partnership aimed at deepening the connection between Indian consumers and the timeless allure of natural diamonds. This collaboration seeks to capitalize on the booming Indian market, where demand for natural diamond jewellery has surged, now accounting for 11% of global demand, surpassing China.
India’s vibrant economy, expanding middle class, and sophisticated consumers with a penchant for jewellery that holds enduring value have propelled this growth. However, diamond acquisition rates in India remains lower than in more mature markets like the US, presenting a significant opportunity for further expansion.
To seize this potential, De Beers and Tanishq will work together to enhance consumer education, spark interest, and boost confidence in natural diamonds across India. By leveraging Tanishq’s extensive market knowledge and De Beers’ diamond expertise, the partnership aims to deepen consumer appreciation for the rarity and timeless value of natural diamonds.
The collaboration will focus on broadening consumer outreach, equipping Tanishq’s retail staff with the skills to effectively communicate the unique qualities of natural diamonds and educating consumers on authenticity. It will also shape customer experiences as they explore their desire for natural diamond-studded jewellery, supported by a comprehensive 360-degree marketing campaign to raise awareness and attract new buyers, including first-time purchasers.
Sandrine Conseiller, CEO of De Beers Brands, said: “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, Jewellery Division, Titan Company Limited, said: “The opportunity in India for diamonds is massive, given the very low penetration of studded jewellery and the rising per capita incomes in the world’s most populous country. Tanishq Diamonds adhere to strictest standards, with all diamonds responsibly sourced in compliance with the Kimberley Process Certification Scheme (KPCS) and the Tanishq Suppliers Engagement Protocol (TSEP). We offer our own certificate of Tanishq Diamond guarantee and have the most transparent buyback policy in India, enabling trust and peace of mind for our customers. All Tanishq Diamonds are natural, rare and valuable and have attracted our customers with innovative designs. The collaboration with De Beers will unlock new opportunity for both Tanishq and the diamond sector, celebrating the eternal beauty of these miracles of nature.”
Building on their existing partnership, Tanishq already leverages De Beers’ proprietary diamond verification technology to guarantee the authenticity of its products. The two companies are also exploring new opportunities to collaborate on diamond traceability, meet Tanishq’s supply requirements, and further integrate De Beers’ advanced technologies to ensure the integrity of the entire supply chain.
