Lab-made diamond ring for 13,000; Will Tata Group's `Pome' do a Zudio?

Tata Group’s fashion retail arm, Trent, has made a move in the jewellery sector with the launch of its new lab-grown diamond brand, 'Pome'. The competitive pricing of Pome's jewellery suggests that it could disrupt the lab-grown diamonds (LGD) market much like Zudio has done to fashion retail. 

Pome has initially rolled out its collection in select Westside stores across major cities including Mumbai, Bengaluru, Hyderabad, and Gurgaon. The brand aims to establish itself in the lab-grown diamond (LGD) segment through exclusive brand outlets soon.

Affordable prices to widen LGD market

The introduction of Pome is expected to broaden the Indian market for LGD jewellery, making it more accessible to a wider audience. With large corporates like Senco entering the space with its new luxury brand ‘Sennes’, affordable pricing is anticipated to accelerate the adoption of lab-grown diamonds.

In a recent report, Kotak Equities highlighted that Pome’s one-carat solitaire engagement rings are priced between ₹13,000 and ₹17,000—significantly lower than the ₹24,000 to ₹29,000 price range of natural diamonds. This pricing strategy positions Pome’s offerings at an average 30% discount compared to natural diamond jewellery and around 80-85% discount on high-value natural diamond pieces.

Following the launch of Pome, shares of Trent Ltd. reached an all-time high on Tuesday, rising by 8.38% to ₹8,073.4, surpassing Morgan Stanley's target price of ₹8,032.

Choose from the stores

Pome’s collection includes a variety of jewellery pieces, such as earrings, rings, necklaces, and bracelets. Lab-grown diamonds are chemically identical to their mined counterparts, but are produced in a controlled laboratory environment, offering a sustainable and ethical alternative.

As part of the Tata Group’s portfolio, Trent operates other retail concepts, including Westside, Zudio, and Trent Hypermarket.

In June, Trent's Chief Executive Officer P. Venkatesalu highlighted that the company's beauty and personal care segment has been growing quickly, driven by rising customer interest. Emerging categories such as beauty, innerwear, and footwear now account for 20% of Trent’s standalone revenues, up from just 10% previously. Trent has further made progress in its fashion and retail sectors, achieving a compound annual growth rate (CAGR) of 39% since the first quarter of the 2020 financial year