Trent shares rally 7% to new all-time high on launching new LGD brand ‘Pome’
Tata Group company Trent rallied 7.3% to its new all-time high of Rs 7,998 on the BSE today after launching its new lab-grown diamond (LGD) brand ‘Pome’ in Westside stores.
Currently, the brand has been launched in select Westside stores in Mumbai, Bengaluru, Hyderabad and Gurgaon). This seems like a pilot launch by Trent aimed to test the waters with SKUs in a Kiosk format.
Trent is expected to carve out an LGD jewelry brand, roll out EBOs and accelerate scale-up.
Calling Pome as the Zudio of jewellery segment, domestic brokerage firm Kotak Equities states how the brand has positioned itself in terms of pricing focusing on ‘diamonds for all’.
Pome has priced LGD jewelry in line with Trent’s characteristic sharp pricing. A 1-carat solitaire engagement ring is priced at Rs 24,000-29,000. A back-of-the-envelope calculation suggests that the implied pricing of a lab-grown diamond solitaire in Pome LGD jewelry is about Rs 13,000-17,000/carat.
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