National News
Candere Founder Rupesh Jain Launches Lab-Grown Diamond jewelry Brand Lucira; Taps into Booming Industry Potential
The company plans aggressive two-year roadmap for phased omnichannel expansion
Rupesh Jain, the digital jewelry pioneer who built Candere into one of India’s most successful online fine jewelry platforms before its acquisition by Kalyan Jewellers, is returning to the spotlight with a bold new venture, Lucira. A modern lab-grown diamond jewelry brand, Lucira is built for today’s conscious, design-forward consumer and aims to transform the way people engage with fine jewelry.
Positioning itself as the unrivalled “Rings King,” Lucira focuses exclusively on celebrating proposals, weddings, anniversaries, and personal achievements with intentional design and ethical brilliance. Lucira is born out of a simple but powerful idea: that luxury can be meaningful, personal, and responsible. Inspired by the Latin word Lucent, meaning “to shine,” the brand represents purity, brilliance, and a commitment to illuminating life’s most cherished moments with jewelry that reflects values as much as beauty. Merging heritage craftsmanship with cutting-edge innovation, Lucira combines AI-led personalization, certified lab-grown diamonds, and a seamless digital-first experience to build trust and intimacy in an industry that has traditionally relied on opaqueness and excess.
The launch of Lucira comes at a time when lab-grown diamonds are reshaping the fine jewelry landscape, both in India and globally. These diamonds are physically, visually, and chemically identical to mined diamonds, offering the same brilliance and longevity—but at a significantly lower financial cost. Certified by IGI, GIA, SGL, and Hallmark, Lucira diamonds offer complete transparency and assurance of quality. Each piece is handcrafted by artisans who blend traditional techniques with contemporary elegance, creating jewelry that celebrates individuality and connection.
Currently available online with nationwide delivery, Lucira will soon debut its flagship experience stores in key metros, followed by an ambitious retail expansion across India and global markets. With a phased omnichannel growth strategy, the brand is poised to become India’s first global lab-grown diamond luxury house.

Rupesh Jain, Founder of Lucira said, “Our vision is to create a premium, design-led fine jewelry destination that begins online and extends into beautifully curated physical spaces. With AI-powered customization, virtual try-ons, and seamless e-commerce, we’re meeting customers where they are digitally native, value-conscious, and experience-driven. Our upcoming flagship stores will bring this vision to life, blending the ease of technology with the emotion of touch. As we expand across India and into global markets, our goal is simple: to make Lucira synonymous with modern luxury that’s personal, purposeful, and proudly Indian.”
Lucira is carving a niche in the fast-evolving bridal jewelry space, with a sharp focus on solitaires, bespoke engagement rings, eternity bands, and convertible pieces for everyday wear. The brand has introduced five exclusive signature cuts, each designed to maximize light, emotion, and brilliance. These aren’t just rings, they’re declarations of love, symbols of milestones, and heirlooms reimagined for a new generation.
Jain added, “Lucira is about elevating meaningful moments with timeless design and ethical brilliance. We’re not just shaping rings, we’re shaping what they represent in today’s world.
For Rupesh Jain, Lucira is more than a comeback, it’s a vision for the future of fine jewelry. One where innovation, ethics, and emotional resonance converge. India’s robust diamond manufacturing ecosystem and supportive government policies provide an ideal backdrop for Lucira’s ambitions. Jain believes India is uniquely positioned to become a major supplier and brand builder in the global LGD market, which has already seen strong demand in international markets as well.
National News
Gold Exchange Schemes See Surge In Demand
Nearly 25% Of All Jewelry Buyers Now Opt For Exchange Programs Instead Of Outright Cash Purchases
In 2026, India’s retail gold sector is witnessing a significant paradigm shift. Driven by a combination of macroeconomic factors and strategic government appeals, gold exchange schemes have emerged as a dominant trend. Nearly 25% of all jewelry buyers now opt for exchange programs instead of outright cash purchases, marking a substantial increase from previous years.
Key Drivers of the Exchange Trend
1. Record-High Gold Prices
The primary economic catalyst for this shift is the unprecedented surge in gold prices. As fresh gold becomes increasingly expensive, consumers are unlocking the value stored in their existing assets rather than stretching their liquid capital to make new purchases.
2. Government Advocacy and Import Reduction
The trend is heavily backed by national policy interests. Prime Minister Narendra Modi has actively appealed to the public to utilize old jewelry for new purchases rather than buying fresh gold. The strategic goal behind this initiative is to curb India’s massive gold imports, thereby strengthening the current account deficit and stabilizing the national economy.
3. Aggressive Jeweler Incentives
Jewelers have rapidly adapted to consumer demand and government alignment by lowering the barriers to entry for exchanges.
Two major policy shifts are driving this retail adoption:
- Zero-Deduction Exchange Schemes: Traditional penalties and melting losses that previously deterred consumers from exchanging gold are being eliminated.
- Relaxed Documentation & Purity Standards: Retailers are now accepting old gold sourced from any jeweler starting at a purity level as low as 9KT, even without original purchase bills.
Market Implications
The 25% Threshold: The fact that a quarter of all jewelry buyers are now choosing exchange programs signifies that gold recycling is no longer a niche or distress-driven activity; it has entered the mainstream consumer behavior matrix.
- For Consumers: This shift provides a highly liquid, cost-effective way to upgrade designs and maintain asset value without facing heavy financial hits or bureaucratic hurdles (like tracking down decades-old receipts).
- For the Economy: By circulating existing domestic gold back into the supply chain, India reduces its reliance on international bullion markets, directly answering the government’s call for macroeconomic resilience.
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