The Bengaluru-based startup will use the capital to add physical stores, deepen design and supply-chain capabilities and build out the operational backbone needed to scale an omnichannel lab-grown diamond business
Diamond exports to the US, a key market, declined 30 percent in 2024 due to factors including supply chain disruptions, economic uncertainties, a shift in interest towards affordable jewellery, and increased competition from lab-grown diamonds.
Diamond exports from India have plunged to a two-decade low, and the downturn isn’t over yet. As demand slumps and uncertainty looms over U.S. tariffs, FY2026 could see another painful year for the industry.
The mastermind behind the creation, industrialist Smit Patel, said, "This unique diamond, featuring a replica of Donald Trump, was meticulously crafted over the span of two months by our team of five skilled gemologists.
From classic solitaires that radiate elegance to bold statement pieces that enhance any outfit, lab-grown diamonds offer versatility and beauty at an affordable price. Created in controlled environments, they have the same physical and optical properties as mined diamonds, making them virtually indistinguishable. Here’s how you can lift your festive spirit with these stunning diamonds.
Last year, sales from exchange jewellery almost touched 50% by value, and 10-15% by volume. This has an investment value even for younger customers, said Titan Company’s jewellery division CEO Ajoy Chawla.
Lab-grown diamonds, because of their cost and ease of availability, have captured market share but brought diamond prices down