MUMBAI: Tanishq, India's largest jewellery retail brand from the Tata group, today announced a long-term strategic collaboration with De Beers Group, the world’s leading diamond company, to connect more Indian consumers with the rarity and preciousness of natural diamonds and amplify the growing opportunity in the Indian market. 

According to a release by the companies through this collaboration, the two parties will capitalise on Tanishq’s deep understanding of the Indian market built up over three decades, combined with De Beers’ expertise in the diamond category, to deepen consumer desire for and confidence in natural diamonds, underscoring their inherent value, rarity and timelessness.

The collaboration will focus on building extensive consumer outreach, deepening the capabilities of Tanishq’s retail staff to communicate about natural diamonds, educating consumers about authenticity, and shaping customer experiences as they explore their desire for natural diamonds and studded jewellery. 

This will also be supported by a compelling 360-degree marketing campaign to build awareness and target expanding the customer base in the country, including first-time buyers.

Ajoy Chawla, CEO, Jewellery Division, Titan Company Limited, said: “The opportunity in India for diamonds is massive, given the very low penetration of studded jewellery and the rising per capita incomes in the world’s most populous country. 

With a vibrant economy, a growing middle class and discerning consumers who seek jewellery with enduring value, demand for natural diamond jewellery from Indian consumers has surged recently and now represents 11 per cent of global demand. 

This has seen India replace China as the second-largest market in the world for natural diamond jewellery. With diamond acquisition rates in India well below those in mature markets such as the US, this provides a significant opportunity to catalyse further growth for natural diamond jewellery in India.

The release added that two parties are also in talks regarding opportunities to collaborate on traceability, how Tanishq’s diamond supply needs can best be met and further opportunities to use De Beers’ proprietary technologies to support pipeline integrity.