Gold trading platform Augmont forays in lab grown diamond, to invest Rs 100 crore
Augmont is set to invest Rs 100 crore in its foray into the lab-grown diamond market with the launch of its jewellery brand Akoirah.
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It plans to setup 100 stores for its lab-grown diamond (LGD) jewellery brand in the next three years
“The initial investment outlay is Rs 100 crore. Later there will be a combination of franchisee stores along with company owned stores and funds will be added accordingly,” Augmont director Ketan Kothari said.
The global LGD market is projected to reach $1.2 billion by 2033.
Kothari said the penetration of mined diamond jewelry in India is less than 5%.
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