New Delhi: Malabar Gold & Diamonds is exploring an entry into the lab-grown diamond market with a distinct branding strategy, joining a small but growing list of large jewellery retailers eyeing the nascent segment.The company is studying consumer interest in lab-grown diamonds and evaluating how best to position its offering, said M.P. Ahammed, chairman of the Kerala-headquartered group. “We want to come in with a different proposition with a separate identity and not mix it with natural diamonds, as customers are different. We will formalize something,” he said on the sidelines of a press conference in Delhi.Malabar has not yet set a timeline for its venture. Read this | Why lab-grown diamonds are booming in India—and what’s driving first-time buyers to skip mined stones“Malabar is always open to understanding customer needs. Lab-grown is definitely in the market…We are still doing the research and understanding whether consumers like it. We don’t want to do anything with a short-term view,” added O. Asher, managing director.If it moves ahead, Malabar would be among the few national jewellery chains in India to enter this space. Last year, Senco Gold Ltd began piloting lab-grown diamonds under a sub-brand called Sennes.India’s overall diamond market is estimated at $6.2 billion in FY25, with lab-grown diamonds accounting for just $0.4 billion, according to Wazir Advisors. Both segments are expected to grow, with natural diamonds projected to reach $8.6 billion and lab-grown $0.6 billion by FY28.While India and China have emerged as major producers of lab-grown diamonds, retail adoption in both markets has been slow, executives said. Lab-grown diamonds are typically priced at a significant discount to natural ones and have found takers among a mix of jewellery startups and traditional family-run jewellers looking to diversify.Malabar, which primarily caters to the wedding segment with gold jewellery as its mainstay, also retails solitaires and engagement rings. The company operates over 390 stores across 13 countries and reported an annual turnover of $6.2 billion calendar year 2024.The company is also responding to the impact of high gold prices, which have weighed on consumer demand. In April, gold touched a high of ₹96,875 per 10 grams, prompting a visible correction in volumes, as per industry executives.Read this | After a glittery rally, gold may be about to make way for stocks“Consumers with a budget of ₹1 lakh cannot increase their spending, so we have seen a correction in volumes,” Asher said. “We are trying to take more market share by coming up with different programmes and categories of products. We are also offering jewellery in various carats.”“Due to a jump in gold prices, consumers with a budget of Rs1 lakh cannot increase their budget, so we have seen a correction in volumes. What we are able to do—we are trying to take more market share by coming up with different programs and different ca in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. 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Malabar Gold & Diamonds is considering entering the market for lab-grown diamonds.
