TANISHQ
AND DE BEERS FORGE STRATEGIC COLLABORATION TO BOOST INDIA’S NATURAL DIAMOND
JEWELLERY MARKET
As India
becomes the world’s second largest market for natural diamond jewellery,
industry leaders De Beers and Tanishq unite to connect even more people to its
enduring value
De Beers Group, the world’s leading diamond company, and Tanishq,
India's largest jewellery retail brand from the Tata group, today announced a
long-term strategic collaboration to connect more Indian consumers with the
rarity and preciousness of natural diamonds and amplify the growing opportunity
in the Indian market.
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.
To help unlock the growth opportunity, Tanishq and De Beers have agreed
to come together on a long-term collaboration to enhance consumer education,
interest and confidence, and to promote natural diamonds across India. 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 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.
The new collaboration builds on the existing relationship between
Tanishq and De Beers, with Tanishq already using De Beers’ proprietary diamond
verification technology to support the assurance of the authenticity of its
products. The 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.
Sandrine Conseiller, CEO of De Beers Brands, said: “India’s love
affair with diamonds has
flourished over thousands of years, and we are thrilled
to partner with Tanishq to unlock the full potential of this vibrant market.
Like De Beers, Tanishq recognises the power, preciousness and prestige of
natural diamonds and combining our expertise with their deep understanding of
the Indian market, we will work together to create something special to connect
more Indian consumers to these natural treasures and their enduring value.”
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. Tanishq has been a pioneer in democratising diamond jewellery
in the market for three decades and has always targeted the modern progressive
woman. Tanishq Diamonds adhere to strictest standards, with all
diamonds responsibly sourced in compliance with the Kimberley Process
Certification Scheme (KPCS) and the Tanishq Suppliers Engagement Protocol
(TSEP).
“We offer our own certificate of Tanishq Diamond guarantee and have the
most transparent buyback policy in India, enabling trust and peace of mind for
our customers. In an increasingly man-made world where virtual living is becoming
the norm, people crave authentic brands, real experiences and value natural,
wholesome products. All Tanishq Diamonds are natural, rare and
valuable and have attracted our customers with innovative designs. The
collaboration with De Beers will unlock new opportunity for both Tanishq and
the diamond sector, celebrating the eternal beauty of these miracles of nature.”
About De Beers Group
Established in 1888, De Beers
Group is the world’s leading diamond company with expertise in the exploration,
mining, marketing and retailing of diamonds. Together with its joint venture
partners, De Beers Group employs more than 20,000 people across the diamond
pipeline and is the world’s largest diamond producer by value, with diamond
mining operations in Botswana, Canada, Namibia and South Africa. Innovation
sits at the heart of De Beers Group’s strategy as it develops a portfolio of
offers that span the diamond value chain, including its jewellery houses, De
Beers Jewellers and De Beers Forevermark, and other pioneering solutions such
as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers
Group also provides leading services and technology to the diamond industry in
the form of education and laboratory services via De Beers Institute of
Diamonds and a wide range of diamond sorting, detection and classification
technology systems via De Beers Group Ignite. De Beers Group is committed to ‘Building
Forever,’ a holistic and integrated approach for creating a better
future – where safety, human rights and ethical integrity continue to be
paramount; where communities thrive and the environment is protected; and where
there are equal opportunities for all. De Beers Group is a member of the Anglo
American plc group. For further information, visit www.debeersgroup.com.
About Tanishq
Tanishq, India’s most-loved
jewellery brand from the TATA Group, has been synonymous with superior
craftsmanship, exclusive designs and guaranteed product quality for over two
decades. It has built for itself the enviable reputation of being the only
jewellery brand in the country that strives to understand the Indian woman and
provide her with gold & diamond jewellery that meets her traditional and
contemporary aspirations and desires. The Tanishq retail chain currently
spreads across 475+ exclusive boutiques in more than 270 cities. For more
information, visit www.Tanishq.co.in.