Titan enters lab-grown diamond market with new brand ‘beYon’
This move aligns with a significant industry shift where prominent jewellery brands like Senco Gold with Sennes, and Tata with Pome, among others, are gradually moving away from their exclusive natural or mined diamond offerings in favour of lab-grown alternatives
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, according to a regulatory filing from a Tata group-managed firm.
This move aligns with a significant industry shift where prominent jewellery brands like Senco Gold with Sennes, and Tata with Pome, among others, are gradually moving away from their exclusive natural or mined diamond offerings in favour of lab-grown alternatives. This trend has seen players creating new brands under their umbrella to incorporate lab-grown diamonds, driving sales volumes and positioning them as an affordable entry point for consumers.
"Titan will launch the brand name 'beYon - from the House of Titan' with an exclusive retail store in Mumbai on 29th December 2025 to cater to the adornment needs of women in lifestyle categories beyond watches, perfumes, sarees and handbags," it said.
The brand 'beYon' will offer a curated range of Lab Grown Diamond (LGD) jewellery, making a start in this emerging category with plans to add a couple of more stores in Mumbai and Delhi in the immediate near future, Titan said.
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.
Moreover, these diamonds are increasingly finding their position in the mid-ticket gifting segment, and in daily-wear jewellery, particularly driven by millennials and Gen Z who are looking for better value.
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.
The year saw players like Aukera, Limelight, JewelBox, and Coluxe, among others, raising capital. The lab-grown diamond space picked up $47.9 million in the year to date across 14 deals, according to data from Tracxn.
The biggest deals included Aukera’s $15 million Series B round, followed by Shilpa Shetty’s Limelight picking up $11 million. This marks a significant jump from 2024, when investors put in only $8.7 million in the space across 10 deals.
According to consulting firm Wazir Advisors, the share of diamonds in the Indian jewellery market is still below 10% and has a large opportunity for upside growth. In the last few years, studded Jewellery has been gaining popularity with organised retailers increasing focus due to high margins.
The Indian diamond jewellery market is estimated at around $6.2 billion (Rs 55,674.54 crore) in 2025 and is projected to grow to $8.6 billion (Rs 77,225.97 crore) by 2028, with a CAGR of 12%.
Though the share of lab-grown diamonds is a smaller one, around $400 million, the segment is expected to grow by a 14% CAGR for the next two years to $600 million (Rs 5,387 crore) by FY28, according to Wazir Advisors.
Moreover, India has also become the world's second-largest market for natural diamond jewellery. Earlier this year, Titan announced a long-term strategic collaboration with De Beers Group, the world's leading diamond company, and its leading jewellery brand Tanishq.
(With inputs from PTI)