Representative image Shares of 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…
Representative image A steep, narrow, barely lit staircase leads to Vinubhai Parmar’s rooftop room in Surat. Inside, folding beds and scattered kitchenware hint at a life in distress. His teenage sons, Shivam and Dhruv, sit cross-legged on the floor, doing their homework. At 18, Shivam has come to terms with the upheaval at home after…
Jewellery retailer Senco Gold Ltd is expecting 12 per cent jump in revenue this festive season as compared to the last festive season, Suvankar Sen, MD and CEO, Senco Gold Ltd told ETRetail. As compared to the last festive year, gold prices have jumped almost 18 per cent, so this festive season, it is also…
Representative image Mumbai: The diamond industry is in facing major headwinds, going by a CRISIL report. Diamantaires are bracing for a decadal-low in revenues as demand slumps. Flattish margins, declining working capital requirements, and controlled debt are expected to aid credit profiles. India’s natural diamond polishing industry is set to see revenues plummet 25-27% on-year…
Significant fall in prices, eroding consumer interest and competition with imports are some of the major challenges being faced by the domestic lab-grown diamond industry, think tank GTRI said on Sunday. It also said that while India faces the issue of production overcapacity, it continues to import lab-grown diamonds in large amounts and this issue…
The lab-grown diamond market has seen a significant drop in prices, from $300 a carat in July 2022 to $78 a carat recently. Natural diamonds experienced a 25-30% price drop too. Factors like rising gold prices, a downturn in the US economy, and changes in Chinese buying patterns have impacted the diamond industry negatively, reported…
Representative Image Nearly four lakh workers engaged in cutting and polishing of lab-grown diamonds (LGD) in Surat are facing delays in getting their wages and uncertainties about their jobs, with a fall in the prices of these man-made gemstones affecting the revenue of the units employing them. As LGD prices are falling and export demand…
Representative image. The recent surge in gold prices has led to a shift in consumer behaviour towards lab-grown diamond (LGD) studded jewellery, which is more pocket-friendly, said LGD manufacturers and retailers. In addition to this, the value-seeking consumer is also attracted to LGD studded jewellery as it offers a proposition of more gold proportion in…
Prices of Indian lab-grown diamonds (LGDs) have crashed by 45% in FY24 due to overproduction in the global markets. In FY24 global production of lab-grown diamonds stood at 40 million carats, which is almost 33% higher than FY23 production. Indian LGD exports have dropped by 18.2 % in April to $83.77 million in value terms…
Representative image Kolkata: Large jewellery chains such as Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, Joyalukkas and Senco Gold are staying away from lab-grown diamonds (LGDs) citing low demand and an aversion to mixing them with natural stones at counters. Nonetheless, the buzz over such stones – much cheaper than natural diamonds and indistinguishable from…
