National News
Lucira Jewelry Debuts Its First Store in Chembur, Mumbai
Lucira Jewelry debuts in Chembur, Mumbai; first experience store in Mumbai after record $5.5M seed funding round
Lucira Jewelry, a design-first fine jewelry brand redefining sustainable luxury in India, has opened its first experience store in Mumbai at Chembur. The store launch follows the brand’s record of $5.5 million seed round announced in September 2025, which marked the largest seed funding round for any lab-grown diamond startup in India to date.
Located at Chembur, the 800 sq.ft area store is designed for discovery, where craftsmanship meets everyday wearability. The space invites customers to explore signature diamonds for life’s big and small moments, from the brand’s hero Hexa and On The Move collections to a dedicated Solitaires section that celebrates timeless elegance.
Lucira is a modern design-first fine jewelry brand redefining what luxury means for today’s conscious consumer. Founded by Rupesh Jain, Lucira blends ethical craftsmanship with digital-first innovation to create jewelry that celebrates life’s most meaningful moments

Speaking on the store launch, Rupesh Jain, Co-Founder, Lucira Jewelry, said, “After building strong digital foundations, opening our first physical store in Mumbai represents our commitment to creating meaningful connections with customers. Lab-grown diamonds are a conscious choice for today’s consumer who values beauty without compromise. This Chembur store is a space where our design philosophy and eco-conscious vision come alive”.
The store introduces several unique features that set it apart from traditional jewelry retail. Every two weeks, the store floor will be refreshed with new designs, ensuring there’s always something new to fall in love with. The space also houses a Carat Meter for on-the-spot diamond grading insights and offers complimentary diamond cleaning services to keep pieces showroom-bright.
One highlight of the Chembur store is that it is designed as a community space. Lucira will host exclusive in-store experiences ranging from styling sessions and collection previews to high-tea gatherings. Each event is designed to bring together diamond lovers, inspire new ways to wear jewelry, and create an intimate connection with the brand story.
The store showcases Lucira’s complete range of certified lab-grown diamond jewelry, with dedicated sections for the brand’s design-first hero collections – Hexa and On The Move – alongside an extensive selection of solitaires, everyday wear pieces, and statement jewelry. Each piece comes with IGI/GIA/SGL certification and BIS Hallmark, backed by lifetime exchange and buyback guarantees.
With the opening of this flagship store, Lucira is accelerating its omnichannel expansion strategy. The brand has announced plans to open three additional stores by the end of FY2026 across key metropolitan markets, building on the momentum from its record seed funding round led by Blume Ventures with participation from Spring Marketing Capital.
Chembur’s emergence as a preferred residential and commercial hub for young professionals and families makes it an ideal location for Lucira’s Mumbai debut. The area’s growing retail landscape and community of design-conscious consumers aligns perfectly with the brand’s target demographic.
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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