Key Points
Kolkata: Large jewellery chains such as Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, Joyalukkas and Senco Gold are staying away from lab-grown diamonds (LGDs) citing low demand and an aversion to mixing them with natural stones at counters...
Nonetheless, the buzz over such stones - much cheaper than natural diamonds and indistinguishable from them - is getting louder, with higher sales in markets such as the US and government stimulus budgeted in India...
Top retailers still feel the local market is not yet ready to accept LGDs like the US, as artificial diamonds are popularly considered fashion jewellery and not an asset with resale value...
Indian customers do seek value for money, but they also want the precious tag thats attached to fine jewellery made with natural diamonds, Rajiv Popley, director of Mumbai-based Popley & Sons, pointed out..
Limelight Diamonds founder and managing director Pooja Sheth Madhavan said, Consumer confidence is on the rise in India and over 50 LGD jewellery outlets have opened in the last six months in the metros alone..
