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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Brands are struggling amid plunging prices of lab-grown diamonds, poor margins, intense competition, shaky global demand and a domestic market where tradition continues to shape buying decisions.
A profound shift is underway in the global diamond business. The idea of acquiring what was once a rare, precious mineral has been turned on its head in the 21st century. Now that diamonds can be made in labs, they are neither rare nor precious. Nowhere is this more visible than in India.
Throw a stone in Bengaluru, Delhi or Mumbai, and you’re likely to hit a lab-grown diamond startup every few kilometres or so. The country now has over 100 brands in the segment, which didn’t exist three years ago, says Sanjana Tripuramallu, founder of Cosmos Diamonds, a Bengaluru-based …
