Mini Diamonds (India) Ltd, the BSE-listed diamond manufacturer and exporter with a growing presence in lab-grown diamond jewellery, has announced a franchise-led retail expansion plan through its wholly owned subsidiary, Namra Jewels Pvt Ltd, to tap rising consumer demand for affordable and sustainable diamond jewellery.
MDIL plans to expand under the Franchise Owned Franchise Operated (FOFO) model, enabling entrepreneurs to establish Namra Jewels outlets across Tier I and Tier II cities.
Asset-light expansion strategy
Under the proposed model, Namra Jewels will offer franchise opportunities at a nominal fee of ₹5 lakh. The estimated investment is expected to remain below ₹2 crore for Tier I cities and under ₹1.5 crore for Tier II cities, depending on location, store size, interiors, inventory requirements and other commercial considerations.
The company said the decision follows a detailed assessment of growing consumer acceptance of lab-grown diamonds, particularly among younger buyers seeking design-led, affordable and responsibly created jewellery.
“Lab-grown diamond jewellery is seeing strong interest from a new generation of consumers who value design, affordability and trust. Through Namra Jewels, we aim to build a retail network that gives customers access to quality jewellery at attractive price points,” the management said.
“The FOFO franchise model allows us to expand in an asset-light manner while creating a meaningful business opportunity for franchise partners across Tier I and Tier II cities,” it added.
Expanding retail presence
Namra Jewels believes the franchise model will help the brand build a wider offline network, improve market penetration and strengthen customer engagement across key markets.
The company expects the expansion to enhance brand visibility, increase sales opportunities and support long-term growth in its jewellery business.
Established in 1987, Mini Diamonds (India) initially focused on the import and export of diamonds and has since evolved into a recognised player in cut and polished diamonds and jewellery manufacturing.
Today, the company manufactures, markets and sells lab-grown diamond jewellery across domestic and international markets through both business-to-business and business-to-consumer channels.
Riding growth in lab-grown diamonds
With lab-grown diamonds gaining acceptance globally due to their affordability and sustainability credentials, the company sees significant growth opportunities in organised retail.
The proposed franchise rollout is expected to accelerate Namra Jewels’ expansion while helping Mini Diamonds strengthen its position in India’s fast-growing lab-grown diamond jewellery segment.