Malabar Gold & Diamonds weighs entry into lab-grown diamond segment

Malabar Gold & Diamonds is said to be exploring an entry into the lab-grown diamond market with a distinct branding strategy, joining a small but growing list of large jewellery retailers eyeing the nascent segment. The $6.2 billion jewellery retailer is studying consumer preferences as it explores a differentiated play in the emerging lab-grown diamond market

The company is studying consumer interest in lab-grown diamonds and evaluating how best to position its offering, said M.P. Ahammed, chairman of the Kerala-headquartered group. “We want to come in with a different proposition with a separate identity and not mix it with natural diamonds, as customers are different. We will formalize something,” he said on the sidelines of a press conference in Delhi.

Malabar Gold & Diamonds has not yet set a timeline for its venture.