De Beers Champions the Enduring Value of Natural Diamonds

As India cements its position among the world's fastest-growing luxury jewellery markets, its influence on the global natural diamond industry continues to strengthen. To explore this evolving scenario, we spoke with Toranj Mehta, Country Head, Category Marketing, De Beers India.

In this exclusive interaction, she shares insights into shifting consumer preferences, changing collector sentiment, India's expanding growth potential, De Beers' global strategy, and the rising demand for rare natural diamonds in the premium jewellery segment.

How has the perception and cultural significance of natural diamonds changed over the past few years across key international markets?

Natural diamonds are increasingly seen as symbols of love, empowerment and identity. Across Asia, Europe and the United States, they are appreciated not only for their rarity but also for their craftsmanship, heritage and role in personal storytelling. In India, while their emotional significance remains deeply rooted in culture and tradition, consumers are increasingly purchasing natural diamonds beyond weddings to celebrate important life moments. This evolution is particularly evident among younger consumers who value authenticity, rarity and meaningful ownership.

From an India perspective, how are consumer preferences for natural diamonds evolving, particularly among younger and affluent consumers seeking luxury and investment-worthy purchases?

Indian consumers are increasingly seeking products that carry authenticity, meaning and lasting value. We are seeing growing demand for natural diamonds not only for weddings but also for self-purchase and milestone occasions. Younger consumers, particularly Millennials and Gen Z, are embracing natural diamonds as expressions of individuality, self-expression and personal achievement. This evolving consumer mindset is reflected in our campaigns such as Love from Dad and Love from Universe, which celebrate modern gifting occasions and meaningful moments beyond traditional milestones. As aspirations continue to rise, India remains one of the world's most exciting growth markets for natural diamonds.

What inspired De Beers to collaborate with Sotheby’s on the global high jewellery auction series, and what strategic objectives did the partnership aim to achieve?

The collaboration brought together a carefully curated collection of exceptional natural diamonds across Hong Kong, Geneva and New York. The aim was to showcase the rarity, craftsmanship and provenance of natural diamonds while highlighting their cultural significance and enduring value. While the auction celebrated world's exceptional natural diamonds globally, it also reinforces the timeless appeal of natural diamonds among consumers in growth markets such as India, where appreciation for rarity, authenticity and craftsmanship continues to grow.

The auction featured several rare and exceptional natural diamonds. How are collector preferences evolving, and what trends are you observing among high-net-worth buyers globally?

Collectors today are looking beyond rarity alone and are increasingly drawn to natural diamonds with provenance, authenticity and emotional significance. We are also seeing a broader shift towards self-purchase, with nearly half of global diamond purchases now made by women buying for themselves. In India too, consumers are increasingly choosing natural diamonds to celebrate personal milestones and achievements, reflecting evolving aspirations and changing luxury preferences.

Following the successful auctions in Hong Kong, Geneva, and New York, what key learnings has De Beers gained regarding regional demand patterns and consumer behaviour?

The auctions reflected different regional interests. Hong Kong highlighted the importance of tradition, symbolism and trade. Geneva focused on collecting and connoisseurship. New York emphasized modern identity, creativity and personal storytelling. Across all three locations, collectors responded strongly to exceptional natural diamonds. These reinforce the opportunity in India, where consumers increasingly seek natural diamonds that combine rarity with emotional meaning and enduring value.

What are the latest developments at De Beers in terms of product innovation, market expansion, strategic partnerships, or customer engagement initiatives?

Innovation continues to be a key focus for De Beers. The company is investing in its jewellery brands, diamond sourcing and traceability initiatives like Tracr and GemFair. It is also strengthening the industry through education, laboratory services, and advanced diamond detection, sorting and classification technologies.

Does De Beers explore franchise, licensing, or partnership-led retail models in select markets? How important are such models to the company's long-term growth strategy?

In India, our focus is on building strong partnerships across the natural diamond ecosystem to drive category growth and consumer education. We work closely with leading retailers and industry partners to strengthen awareness and enhance consumer confidence in natural diamonds. Through strategic collaborations and marketing initiatives, we aim to expand the reach of the natural diamond category while supporting sustainable long term growth.

Competition in the luxury jewellery segment continues to intensify, including from lab-grown diamonds and emerging luxury brands. How does De Beers differentiate itself in this evolving scenario?

De Beers differentiates itself through the rarity, provenance and craftsmanship of natural diamonds. Emphasized on innovation, diamond traceability, sustainability through the Building Forever programme, and advanced technology solutions across the diamond value chain. 

How are ongoing geopolitical developments, trade dynamics, and economic uncertainties influencing the global natural diamond market and collector sentiment?

While global economic conditions continue to evolve, India remains a bright spot for the natural diamond industry. We have seen strong momentum in consumer demand over the past few years, driven by rising aspirations, increasing disposable incomes and a deep cultural affinity for natural diamonds. We remain confident in India's long-term growth trajectory and continue to invest in consumer education, marketing and partnerships to strengthen the category.

India is increasingly being viewed as a key growth market for luxury consumption. What opportunities do you foresee for the natural diamond category in the country over the next five years?

India represents one of the most significant growth opportunities for the global natural diamond industry. The country has already become the second-largest market for natural diamond jewellery globally, and we expect demand to double by 2030. Rising incomes, increasing self-purchase, changing consumer behaviour and a growing preference for meaningful, authentic luxury will continue to drive this growth. De Beers remains committed to investing in marketing, consumer education, retail partnerships and innovation to further strengthen the natural diamond category in India.

Looking ahead, what are De Beers' key growth priorities, and how do you envision the future of the natural diamond industry over the next five years?

De Beers will continue to invest in innovation, sustainability through the Building Forever programme, traceability, consumer education and technology across the diamond value chain. India will remain a key strategic market, and we are committed to strengthening consumer confidence and reinforcing the enduring value of natural diamonds for future generations.