Titan Company Limited’s fine jewellery brand Tanishq has announced a long-term strategic collaboration with global diamond business De Beers Group.
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As India becomes the world’s second largest market for natural diamond jewellery, industry leaders De Beers and Tanishq unite to connect even more people to its enduring value..
Titan Company Limited’s prestigious jewellery brand, Tanishq, has revealed a strategic long-term partnership with the global diamond enterprise, De Beers Group. This collaboration aims to enhance the promotion of natural diamonds within the Indian market, connect with consumers, and explore avenues for growth.
India’s longstanding affinity for diamonds has developed over millennia, and we are excited to collaborate with Tanishq to fully explore the potential of this dynamic market,” stated Sandrine Conseiller, CEO of De Beers Brands, in a press release. “Similar to De Beers, Tanishq appreciates the significance, rarity, and prestige associated with natural diamonds. By merging our expertise with their profound insight into the Indian market, we aim to create a unique offering that will connect a greater number of Indian consumers to these natural gems and their lasting worth.” The expanding middle class in India has significantly increased the demand for natural diamond jewellery, leading to India surpassing China as the world’s second-largest market for such products.
Diamond purchases in India remain considerably lower than those in the United States, which both Tanishq and De Beers view as a significant opportunity for expansion within the Indian market. The collaboration between these companies will focus on implementing educational programs, marketing strategies, and consumer engagement initiatives aimed at increasing the demand for natural diamonds and diamond-studded jewelry. “The potential for diamond sales in India is enormous, particularly given the minimal market penetration of studded jewelry and the increasing per capita income in the world’s most populous nation,” stated Ajoy Chawla, CEO of Titan Company Limited’s jewelry division. “For three decades, Tanishq has led the way in making diamond jewelry accessible to a broader audience, consistently appealing to the modern, progressive woman. Tanishq Diamonds are produced under the highest standards, with all diamonds ethically sourced in accordance with the Kimberley Process Certification Scheme (KPCS) and the Tanishq Suppliers Engagement Protocol (TSEP).”
De Beers Group, the foremost diamond company globally, and Tanishq, the largest jewellery retail brand in India under the Tata group, have today announced a strategic long-term partnership aimed at connecting a greater number of Indian consumers with the uniqueness and value of natural diamonds, while also enhancing the burgeoning opportunities within the Indian market. India’s vibrant economy, coupled with a burgeoning middle class and discerning consumers who prioritize jewellery with lasting value, has led to a notable increase in the demand for natural diamond jewellery.
This demand now accounts for 11 percent of the global market, positioning India as the second largest market for natural diamond jewellery, surpassing China. Given that diamond acquisition rates in India remain significantly lower than those in established markets like the United States, there exists a substantial opportunity to stimulate further growth in the sector. To capitalize on this growth potential, Tanishq and De Beers have committed to a long-term collaboration focused on enhancing consumer education, fostering interest and confidence, and promoting natural diamonds throughout India.
This partnership will leverage Tanishq’s extensive knowledge of the Indian market, developed over three decades, alongside De Beers’ specialized expertise in the diamond industry, to cultivate a deeper consumer appreciation for natural diamonds, emphasizing their intrinsic value, rarity, and timeless appeal.
The partnership will concentrate on enhancing consumer engagement, improving the capabilities of Tanishq’s retail personnel to effectively communicate the merits of natural diamonds, educating consumers on authenticity, and refining customer experiences as they pursue their interest in natural diamonds and jewelry adorned with these gems. This initiative will be bolstered by a comprehensive 360-degree marketing campaign aimed at raising awareness and expanding the customer base within the country, particularly targeting first-time buyers.
This new collaboration builds upon the established relationship between Tanishq and De Beers, with Tanishq already utilizing De Beers’ proprietary diamond verification technology to ensure the authenticity of its offerings.
The two organizations are also exploring opportunities for collaboration on traceability, optimizing Tanishq’s diamond supply requirements, and further leveraging De Beers’ proprietary technologies to maintain pipeline integrity. Sandrine Conseiller, CEO of De Beers Brands, stated: “India’s enduring passion for diamonds has developed over millennia, and we are excited to partner with Tanishq to fully realize the potential of this dynamic market.
Like De Beers, Tanishq appreciates the significance, rarity, and prestige of natural diamonds. By merging our expertise with their profound understanding of the Indian market, we aim to create a unique connection for more Indian consumers to these natural treasures and their lasting value.”
Ajoy Chawla, the CEO of the Jewellery Division at Titan Company Limited, remarked on the significant potential for diamonds in India, highlighting the currently low market penetration of studded jewellery alongside the increasing per capita incomes in the world’s most populous nation.
He noted that Tanishq has been at the forefront of making diamond jewellery accessible for three decades, consistently appealing to the modern, progressive woman. Tanishq Diamonds are produced under stringent quality standards and are ethically sourced from reputable suppliers, with their supply chain certified by the Kimberley Process Certification Scheme (KPCS) and compliant with the Tanishq Suppliers Engagement Protocol (TSEP). Furthermore, Tanishq provides its own certificate of guarantee for its diamonds and boasts the most transparent buyback policy in India, fostering trust and assurance among its clientele.
In a world increasingly dominated by artificial experiences, consumers are seeking authentic brands, genuine experiences, and value in natural products. All Tanishq Diamonds are natural, rare, and valuable, captivating customers with their innovative designs. The partnership with De Beers is expected to create new opportunities for both Tanishq and the diamond industry, celebrating the timeless beauty of these natural wonders.
