Mint Explainer | Why Titan is entering the lab-grown diamond business now
Mint explains what Titan's entry into this segment means for India’s nascent LGD market, and for the smaller, established players already operating in the space.beYon is Titan’s new lab-grown diamond jewellery brand, marking its first direct retail foray into the LGD segment. The brand has debuted with a standalone store on New Link Road in Andheri West, Mumbai.The location places beYon in the middle of one of Mumbai’s most competitive jewellery corridors.
Lab-grown diamond brand Origem operates next door, while Bluestone, which listed recently, has a presence nearby. Traditional jewellery chains such as Senco Gold and Diamonds, Kalyan Jewellers, and Joyalukkas line the same stretch, alongside Indriya, the jewellery brand from the Aditya Birla Group.
Directly across the road stands a large flagship Tanishq store, creating a striking face-off between Titan’s natural diamond business and its lab-grown experiment.As of this week, the beYon outlet had security personnel on site, unopened boxes of inventory inside, and no sales staff present. The “House of Titan” branding on the storefront was temporarily covered.Records from the commerce and industry ministry show Titan received approval for the trademark “beYon” on 8 December.
Read on livemint.com