Augmont Dazzles in Lab-Grown Diamonds with Akoirah Launch

Augmont ventures into the lab-grown diamond market, launching the brand 'Akoirah'. The company plans to invest Rs 100 crore and open 100 retail stores within three years to target aspirational consumers seeking cost-effective diamond alternatives. The growth strategy includes both physical and online sales.

In a bold move, Augmont, a gold trading platform, has announced its strategic entry into the lab-grown diamond (LGD) market with its brand 'Akoirah'. Set on an ambitious growth path, the company plans to establish 100 retail stores in three years, Director Ketan Kothari revealed.

Initially committing an investment of Rs 100 crore, Augmont is banking on the strong consumer shift towards affordable LGDs, which offer a visually and chemically exact alternative to natural diamonds. The flagship Akoirah store has opened in Pune, Maharashtra, with plans to expand into more urban centers.

Aiming to revolutionize diamond retail, Akoirah promises full exchange and buyback options to instill customer confidence, while integrating an omnichannel approach to tap into Augmont's existing digital gold consumer base. Kothari anticipates the global LGD market could hit USD 1.2 billion by 2033, accelerated by growing acceptance among value-conscious consumers.