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Natural diamonds in all sizes are seeing a recovery in demand, with notable stability in the balance between mined and lab-grown stones, according to Titan Company.
“We have seen more stability…in the pricing, both of solitaires as well as small diamonds,” Titan jewelry CEO Arun Narayan said in an earnings call transcript released Tuesday.
The Indian retailer first noticed a “resurgence” in its diamond-jewelry offering in the fourth quarter of fiscal 2026, and that has carried over to the first quarter of fiscal 2027, which ended on June 30. While the company’s “studded” category used to include diamond and colored-stone jewelry, it reclassified the segment before the first quarter to exclude colored stones, meaning that the rise during the April-to-June period stemmed from strengthening demand for diamonds.
“How is [natural-diamond demand] playing out vis-à-vis the lab-grown diamond, and how is the narrative playing out in the mind of the customer,” posited Titan managing director Ajoy Chawla. “I think at the market level, it has stabilized, and that narrative, which was very prominent towards lab-grown and natural, [is] going on. The narrative seems to have gone down substantially. And I think [demand for] both [exists] in the market.”
All categories have seen an improvement in the last four months, Chawla reiterated. He expected that to continue and to lead to double-digit growth in value for Titan’s jewelry business. Part of the company’s plan to drive the increase lies in adding more high-value diamond-studded jewelry to its offering.
Titan operates jewelry brands including Tanishq, Mia, Zoya, CaratLane and lab-grown banner beYon. It also recently acquired Middle Eastern jeweler Damas.
Image: Tanishq store in India. (Shutterstock)
