Domestic customers at Titan Company are less interested in buying synthetic diamonds than their US and overseas counterparts, looking more for assurances that the stones they purchase are natural.
“We’ve been trying to track the inquiries on a continuous basis across all the stores, Tanishq, CaratLane, Mia and Zoya, and so far we have not seen material inquiries for [customers wanting lab-grown diamonds],” Titan managing director C.K. Venkataraman said in an analyst call last week. “What we do hear about, what our customers are more curious about, they want to be assured that what we are selling is natural, and [doesn’t have any lab-grown in it].”
Venkataraman noted that some customers have started to demand proof that the company’s diamonds are natural. Any stones entering the company, which are primarily sourced via De Beers sightholders, are subject to very stringent tests.
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