Austrian crystal maker Swarovski is intensifying its focus on the Indian market by introducing lab-grown diamond jewellery and planning significant retail expansion. The company aims to increase its store count from 60 to 70 within the next year, targeting key locations including Gurugram and various airport retail spaces.

Nasr Sleiman, Swarovski's General Manager for India, Southeast Asia, and the Middle East, highlighted the growing demand for lab-grown diamonds in the region, noting that the category is expanding rapidly due to attractive pricing and increasing consumer awareness.

Swarovski's strategic shift comes amid a slowdown in the Chinese luxury market, prompting the brand to explore growth opportunities in other regions, with India identified as a high-potential market.

The company is also focusing on enhancing consumer education regarding lab-grown diamonds, emphasizing their quality and affordability compared to natural diamonds.

Swarovski's expansion plans include a mix of company-operated boutiques and partnerships with local retailers, aiming to strengthen its presence in both traditional retail and travel retail sectors across India.

This strategic move aligns with the growing trend of consumers seeking sustainable and ethically sourced jewellery options, positioning Swarovski to meet the evolving preferences of the Indian market.