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News Topical, Digital Desk : Titan, a Tata Group company, has announced its entry into the lab-grown diamond market, marking a significant strategic move in the jewelry segment. The company has announced the launch of a new brand, 'beYon,' for this emerging segment. Previously, speculation surrounding this move has been officially confirmed after the brand name was trademarked.
The first store will open in Mumbai.
The first exclusive retail store of the 'beYon' brand will open in Mumbai on December 29th. It is reported that this store has been repurposed from an existing outlet of Titan's subsidiary CaratLane. The company plans to expand its retail network by opening more stores in Mumbai and Delhi in the future.
Focusing on women's lifestyle, the new brand will offer a curated range of lab-grown diamond jewelry, specifically designed to meet women's lifestyle and fashion needs. Titan will position these jewelry products as a more affordable alternative to natural diamonds, in order to attract new customers and not impact the demand for traditional diamond jewelry. This move is considered significant for the Indian jewelry industry, as it marks the first formal and large-scale entry of a major organized company into the lab-grown diamond segment. While the initial financial impact is expected to be limited, in the long term, this move could impact the direction and competition of both the natural and lab-grown diamond markets, which will be closely monitored by investors and the industry.
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