Jewellery major Titan Company Ltd on Friday announced its foray into the lab-grown diamond (LGD) segment with the launch of a new brand, beYon, signalling its entry into the fast-emerging category of affordable and ethically-sourced diamonds.
In a regulatory filing to the bourses, the Tata group company said it will open the first exclusive beYon retail store in Mumbai on December 29. The brand is positioned to cater to women across lifestyle categories beyond watches, perfumes, sarees and handbags.
Titan said beYon will offer a curated range of lab-grown diamond jewellery and marks the company’s initial step into this growing segment. Following the Mumbai launch, the company plans to add a couple of more stores in Mumbai and Delhi in the near term.
The announcement was well received by investors, with Titan’s stock touching a 52-week high on Friday. The shares ended the day at ₹3,991.65 on the Bombay Stock Exchange, up 2.13 per cent from the previous close.
Commenting earlier on the opportunity, Ajoy Chawla, chief executive officer of Titan’s jewellery division, had said during the company’s second-quarter earnings call that the LGD market has been developing “slowly and steadily” with multiple players entering the space. He noted that sluggish demand in key markets such as the US and China has prompted diamond growers to look at India as a convenient expansion market, leading to rising investments.
“We think there is a growing interest, though it is yet to show up in the numbers. And we believe it is still early days in the sense that perhaps the more accomplished diamond buyer is playing with LGDs as an early adopter, not necessarily the new entrants, as we were thinking,” Chawla had said.
Over the past two to three years, India’s lab-grown diamond market has witnessed rapid growth, driven by consumer demand for more affordable, sustainable and ethically sourced alternatives to natural diamonds. According to consulting firm Wazir Advisors, diamonds currently account for less than 10 per cent of the Indian jewellery market, leaving significant room for growth.
In recent years, studded jewellery has gained popularity, with organised retailers increasing their focus on the category due to higher margins. The Indian natural diamond jewellery market is estimated at around $6.2 billion (₹55,674.54 crore) in 2025 and is projected to grow to $8.6 billion (₹77,225.97 crore) by 2028, at a compound annual growth rate of 12 per cent.
While lab-grown diamonds currently represent a smaller share of the market — estimated at about $400 million — the segment is expected to grow at a CAGR of 14 per cent over the next two years to reach $600 million (₹5,387 crore) by FY28, according to Wazir Advisors.