Tata and Senco Gold Enter Lab-Grown Diamond Market

With gold and diamond prices reaching new heights, prominent corporations are exploring lab-grown diamond (LGD) jewelry as a cost-effective alternative for the wider consumer base. Trent, Tata Group‘s fashion retail division, has launched a new LGD brand named ‘Pome‘. Simultaneously, Senco Gold and Diamonds has introduced a luxury brand called ‘Sennes’ at the global stage during the Milan Fashion Week Spring-Summer 2025.

Trent has made Pome available in selected Westside stores in Mumbai, Bengaluru, Hyderabad, and Gurgaon. The company aims to establish a dedicated LGD jewelry brand through the rollout of Exclusive Brand Outlets. According to Kotak Equities, the pricing strategy positions Pome as the ‘Zudio of the jewelry segment’, where a one-carat solitaire engagement ring is priced at ₹24,000-29,000. In contrast, a similar ring in Pome’s LGD range would cost approximately ₹13,000-17,000 per carat.

Kotak Equities’ report suggests that Pome’s prices could offer a 30 percent discount compared to natural diamond-studded jewelry and an 80-85 percent discount to high-value natural diamond jewelry, priced around ₹5 lakh.

On the other hand, Senco Gold plans to establish a separate business vertical by launching a range of products, including LGD, silver jewelry, luxury leather handbags, and perfumes. The Sennes brand aims to deliver modern luxury with an eco-conscious focus. Lab-grown diamonds possess identical physical and chemical properties to mined diamonds and are certified by trusted bodies like GIA, IGI, and SGL globally.

Suvankar Sen, Managing Director & CEO of Senco Gold, reported positive feedback from the four Sennes stores launched in Kolkata. “We do not expect Sennes’ LGD jewelry to cannibalize real diamond sales as Senco and the new brand cater to different audiences. All products under Sennes will be made in India and are projected to contribute about 3-5 percent of our overall sales in the next five years,” Sen stated.

The Indian market for LGD jewelry is anticipated to expand significantly with the entry of major corporations offering products at affordable price points. This development could potentially accelerate the penetration of LGD products in the market.