Titan bets on LGDs as adoption play, not a price substitute

Titan Company has launched its first lab-grown diamonds beYon and is framing this move as a play on consumer adoption and category growth, rather than simply a price substitute.

Titan’s management pushed back against the idea that LGDs were already a big threat or a near‑term substitute for natural diamonds. They estimated the LGD market at under 2% of the overall diamond‑studded jewellery market, underscoring how small the segment still was in India at that point.The management said it would like to focus on making pricing more attractive for consumers over margins. 

“I would say it is better to err on the safer side and make it attractive to the customer and bring in more customers and expand than start looking at it as how do I optimise my profitability,” said Ajay Chowla, Managing Director