Titan enters lab-grown diamond market with new brand ‘beYon’

Titan Co, the country’s leading jewellery maker, on Friday announced its entry into the lab-grown diamond segment, under the brand name of “beYon”. Focusing on the emerging segment of affordable lab-grown diamonds in the country, the company will open a store in Mumbai on December 29.

Over the last 2-3 years, the lab-grown diamond market in India has experienced rapid growth, driven by consumer demand for affordable, sustainable, and ethically sourced alternatives to natural diamonds. Lab-grown diamonds, also known as man-made diamonds, have been gaining popularity on account of their relatively low cost, high degree of customisation and influence from global popularity.

India is uniquely positioned to capitalise on this demand; the country, which already has a diamond cutting and polishing muscle, has easily picked up lab-grown diamonds as its new strength.The Indian jewellery industry has also gone through a disruption as investors bet on the aspirational Indian consumer, with lab-grown diamond players netting capital to scale operations and increase consumer awareness.