Initially, the company will showcase the diamond jewellery in the first phase of launch at its branches in Ahmedabad, Bengaluru, Chennai, Coimbatore, Delhi, Madurai, Mumbai and Vijayawada, Muthoot Pappachan Group Executive Director Thomas Muthoot told reporters here.
"Through this we want to make diamond more affordable and accessible to all income groups. We also hope to break the barrier on several myths surrounding diamond," he said.
This is an extension of our retail jewellery business which we started three years ago, Muthoot Precious Metals Division CEO Keyur Shah told reporters here.
Muthoot Exim's Swarnavarsham Diamond Jewellery will be available initially at 76 branches of Muthoot Fincorp, the flagship company of Muthoot Pappachan Group, he said.
Also Read
The buyback of solitaire diamonds will be offered at 90 per cent of prevailing rates as per 'Nationwide Standard and Transparent Price List', which makes it a very transparent process, at Muthoot Gold Points, he said.
"We are also planning to expand to jewellery like nose pins, earrings and pendants under Swarnavarsham Diamond Jewellery," Shah said.
Divine Solitaires Founder and Managing Director Jignesh Mehta said, gold has always lured masses across India because of its affordability, accessibility and transparency, unlike diamonds which have been though highly aspirational.
"By introducing Pratham diamonds, an extension of Divine Solitaires, in association with Muthoot Exim's Swarnavarsham Jewellery, it now provides same affordability, accessibility and transparency while buying the best quality diamonds by masses across the country," he added.
Disclaimer: No Business Standard Journalist was involved in creation of this content