Tanishq, the largest jewellery retail brand in India, and De Beers Group, a global leader in the diamond industry, have joined hands. The strategic collaboration aims to bolster the natural diamond jewellery market in India.
What Happened: The collaboration was announced on Wednesday. The initiative is a long-term strategy to acquaint more Indian consumers with the uniqueness and value of natural diamonds. This development comes as India surpasses China to become the world’s second-largest market for natural diamond jewellery, contributing to 11% of the global demand.
“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,” the companies said in a press release.
See Also: Tata Motors August Volumes Expected To Shrink 3%, CV Volumes Estimated To Go Down 4.4%
The partnership will capitalise on Tanishq’s knowledge of the Indian market and De Beers’ proficiency in the diamond sector, the companies added in the press release. The primary focus will be on improving consumer awareness, interest, and trust in natural diamonds. Additionally, the collaboration aims to enhance customer experiences and broaden the customer base in India, targeting first-time buyers.
“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 press release stated.
Engineered by Benzinga Neuro, Edited by Utkarsh Roshan
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.