Swarovski turns focus to selling lab grown diamond jewellery in India

27-12-2024 03:10 PM

The Austrian company plans to enhance its retail presence with 10 new stores, adapt to market changes and increase demand for affordable luxury options.

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Swarovski, Austrian affordable luxury company known for its glass-based products like jewellery, watches, and crystal decorations, is focusing on selling lab-grown or cultured diamond jewellery in India. Although the product line was introduced globally last year, it is now being sold and promoted in the Indian market, Nasr Sleiman, Swarovski�s general manager for India, Southeast Asia, and the Middle East, told Mint.

"'Created diamonds' is now the fastest-growing business category in this region. We think it's because the pricing is also very attractive from an end-consumer standpoint. Globally, the prices of diamonds have fallen, so this business will grow a lot in the coming days despite the fact that the category needs a little more awareness right now, " he said.

Courtesy: Livemint

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