Augmont, a fully integrated gold business, has announced its strategic entry into the lab-grown diamond (LGD) jewelry market with the launch of its new brand, Akoirah. The brand aims to make diamond jewelry more accessible to Indian consumers through an omni-channel approach.
Ketan Kothari, Director of Augmont, shared the company’s vision: “We want to be the leading lab-grown diamond jewelry brand in India. LGD is the future for a nation like India, where jewelry represents aspirations, emotions, and culture. Despite the low penetration of mined diamond jewelry in India, over 95% of consumers want to own diamonds. Mined diamonds have given negative returns, making them a poor investment for Indian consumers, who are savvy when it comes to value investments.”
Akoirah seeks to leverage Augmont’s established gold customer base of over four crore digital consumers. The design-centric brand features a modern aesthetic, with prices starting at Rs 5,000. Following the launch of its first brick-and-mortar store, Akoirah plans to expand to 100 offline outlets.
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