{"id":1303,"date":"2026-07-04T23:33:03","date_gmt":"2026-07-04T14:33:03","guid":{"rendered":"https:\/\/india-marketing.jp\/?post_type=india-news&p=1303"},"modified":"2026-08-02T01:09:42","modified_gmt":"2026-08-01T16:09:42","slug":"mayave-global-jewellery","status":"publish","type":"india-news","link":"https:\/\/india-marketing.jp\/en\/india-news\/mayave-global-jewellery\/","title":{"rendered":"From manufacturing powerhouse to \"brand\": how should Japan read lab-grown diamond brand Mayav\u00e9's ambition"},"content":{"rendered":"
\nThis article is based on what we could verify As of August 1, 2026<\/strong> in public records and news reports from India. India revises its tax rules and regulations frequently, and the details here may have changed since. When making an actual business decision, please check the latest information with primary sources such as the ministries responsible and local experts.\n<\/div>\n\n\n

In India's jewelry industry, a company that had stuck strictly to the \"maker\" side is starting to move into \"seller\" territory. Hare Krishna Group (Hari Krishna Exports), a diamond-polishing giant with roughly $1.5 billion in annual revenue, has launched a consumer-facing lab-grown diamond (synthetic diamond) brand called \"Mayav\u00e9,\" and trade media report the company plans about 100 stores nationwide, starting in the National Capital Region (NCR). Dravya Dholakia of the founding family will serve as CEO. The ambition it puts forward is to become \"India's first global jewelry brand.\" For Japanese manufacturers that have a strong global presence in materials and components yet struggle to build a way to reach consumers under their own brand, this pivot is not someone else's problem.<\/p>\n\n

Why a polishing giant is opening its own stores<\/h2>\n

The company behind Mayav\u00e9, Hare Krishna Group, traces back to Hari Krishna Exports, founded in 1992 by Savji Dholakia and his brothers, and is one of India's leading diamond companies. It polishes more than 45,000 carats a month and exports to 81 countries. For a long time its strength lay in \"B2B manufacturing and export.\" This Mayav\u00e9 launch marks the giant's first full-scale move into experience-driven consumer retail.<\/p>\n

The collection is overseen by a Milan-based creative director with more than 20 years of experience, and is said to bring distinctiveness to cut, color, and setting. Against an Indian diamond market that has been almost entirely bridal-focused, Mayav\u00e9 stakes out the angle of \"modern luxury worn every day.\" This is where it draws a clear line of differentiation from existing Indian jewelry brands.<\/p>\n\n

Store design: starting in NCR, leading with company-owned stores<\/h2>\n

Store rollout will begin in the NCR (Delhi capital region) before expanding nationwide. The target is more than 100 stores within the next two and a half to three years. The plan is a two-stage approach: launch mainly with company-owned stores (COCO) first, then expand into a franchise model afterward. When a materials maker pivots into retail, this sequence \u2014 keeping the customer experience and pricing in-house through company-owned stores first, then expanding footprint through franchisees once the model is set \u2014 offers a practical reference for Japanese companies designing owned-versus-franchise rollouts in India.<\/p>\n

A single store is expected to run 2,200 to 2,500 square feet (roughly 200 to 230 square meters). According to the company, this footprint gives it nearly double the space of a conventional jewelry store, with wider aisles and floor space devoted to private, personalized service and storytelling. The idea of \"using floor space for experience\" rather than \"packing merchandise into a cramped store\" lines up with the broader trend in Indian retail of betting on experiential consumption.<\/p>\n\n

Reading the aim through price points (with an exchange-rate assumption)<\/h2>\n

The reported price ranges are as follows. Yen conversions are given alongside using roughly 1 rupee \u2248 1.8 yen as a guide (a reference figure only, since exchange rates fluctuate).<\/p>\n\n\n
Zone<\/th>Price (rupees)<\/th>Approximate yen equivalent<\/th><\/tr><\/thead>\n
Entry<\/td>About 30,000-35,000 rupees<\/td>About 54,000-63,000 yen<\/td><\/tr>\n
Core (bulk of the range)<\/td>80,000-100,000 rupees (1 lakh)<\/td>About 144,000-180,000 yen<\/td><\/tr>\n
Limited \/ upper tier<\/td>Above 20 lakh (2 million rupees)<\/td>Above about 3.6 million yen<\/td><\/tr>\n<\/tbody>\n<\/table>\n

One thing to watch is the unit conversion. Mixing up 1 lakh (100,000) and 1 crore (10 million) shifts the figure by a whole order of magnitude. The core band here, \"80,000 to 1 lakh,\" refers to the 80,000-100,000 rupee zone, i.e., roughly 144,000-180,000 yen. Setting the entry band in the low tens of thousands of yen and starting from a price ordinary consumers can reach is a design that translates lab-grown diamonds' price advantage \u2014 said to run 40-60% below natural diamonds \u2014 directly into brand strategy.<\/p>\n\n

Market and competitor reaction<\/h2>\n

The Indian lab-grown diamond market Mayav\u00e9 is entering is in the middle of an entry rush right now. Market research firms estimate that India's lab-grown diamond market will grow from roughly $450 million to about $1.2 billion between 2030 and 2031, with annual growth expected to exceed 20%. Industry reaction can be summed up in three points.<\/p>\n