Titan launches lab-grown diamond jewellery brand beYon; to open first exclusive store in Mumbai

India’s largest jewellery retailer, Titan Company, is set to enter the fast-growing but still niche lab-grown diamond (LGD) jewellery segment, marking a shift from its long-held focus on natural diamonds.

The Tata Group company will launch a new brand, beYon – from the House of Titan, with its first exclusive retail store opening in Mumbai on December 29.

In an exchange filing on Friday, Titan said beYon will offer a curated range of lab-grown diamond jewellery, positioning the brand as part of its broader strategy to cater to the evolving adornment needs of women beyond its established categories such as watches, perfumes, sarees and handbags.

The company plans to add a couple of more stores in Mumbai and Delhi in the near term.

Titan’s entry makes it the second Tata Group company to venture into the LGD space, after Trent launched its lab-grown diamond brand, Pome, last year.

Lab-grown diamonds account for a small but growing share of India’s Rs 53,512 crore diamond market. The LGD segment is estimated to be worth around Rs 3,452 crore in FY25 and is projected to grow to Rs 5,179 crore by FY28, implying a compound annual growth rate of about 14%. India produces more than 25 lakh to 30 lakh lab-grown diamonds annually, representing roughly 15% of global output, though only about 10% of this production is consumed domestically.

Titan’s move reflects rising interest among younger consumers, particularly Gen Z and millennials, who are increasingly seeking affordable, ethical and sustainable alternatives for everyday jewellery.

Responding to questions on the company’s approach during Titan’s Q1FY26 earnings call, Ajoy Chawla, CEO of Titan’s jewellery division, pointed to the rapid pace of price correction in the segment. “Wholesale prices come down much faster. Retail prices in India are hovering between Rs 30,000 to Rs 50,000 a carat. About a year ago it was much, much higher, and everyday new players are launching and they are coming in at lower price points as well,” Chawla said.

“Entry barriers are rather low. Differentiation is also very limited as we see in the market,” he said, adding that the segment already has around 50 players, over 100 physical stores and several online-only brands. Despite this, Titan estimates the lab-grown diamond market to be less than 2% of the overall diamond-studded jewellery market.

As a result, Chawla warned that the category risks becoming highly commoditised unless brands build strong intellectual property and differentiation. “So, there is a very strong chance that unless you come up with a good IP, this could get a very commoditized play, where the price point leads to bigger stones or more stones or more diamonds for less price is where it may head,” he said.

The entry into LGDs comes at a time when Titan’s core jewellery business continues to drive growth. In the September quarter, total income from jewellery operations, excluding bullion and Digi-Gold, rose 21% year-on-year to Rs 14,092 crore. The domestic jewellery business, comprising Tanishq, Mia and Zoya, grew 18% to Rs 12,460 crore, while CaratLane reported a 32% increase in income to Rs 1,072 crore.