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 Industry Proposes New Strategy To Cut Imports and Boost Local Economy
Precious Metals Refineries Forum (PMRF) Has Proposed A Two-Track System To Manage Gold More Efficiently
Following Prime Minister Narendra Modi’s call to reduce gold imports and foreign travel, major Indian bullion and jewellery bodies have submitted a new plan to the government and the Reserve Bank of India (RBI). The strategy aims to lower the nation’s trade deficit by tapping into the estimated 30,000 tonnes of gold sitting in Indian households.
This move comes after India’s gold imports jumped 24% to a record $71.9 billion in the 2025-26 financial year, with over 721 tonnes of gold brought into the country.
The New Strategy: Two Separate Systems
The Precious Metals Refineries Forum (PMRF) has proposed a two-track system to manage gold more efficiently:
- For Exporters: Imported gold should be strictly saved for jewellery exporters using one-year Gold Metal Loans (GML).
- For Local Buyers: Domestic demand should be met entirely by recycling household gold. This gold would be collected from citizens, refined locally, and sold back through jewellers and retailers.
Under this plan, people who deposit their idle gold could earn 2% to 2.5% interest, while businesses taking gold loans would pay an interest rate of 3% to 4%.
Fixing Why Past Schemes Failed
Previous government gold schemes failed to gain traction primarily because they left out local jewellers and lacked a proper banking structure. Without a joined-up system, institutions faced high financial risks from changing gold prices.
To fix this, trade bodies are calling for a complete system that includes:
- Direct involvement of trusted local jewellers. The schemes did not take off in the past because jewellers were not part of them. About 10% to 20% of family gold is held as bars or coins.
- Strong bank backing and secure storage vaults across the country.
- Tax incentives, such as removing the 3% GST loss when physical gold is converted into Electronic Gold Receipts (EGR), and offering income tax relief on the interest earned.
Industry Support
Industry experts say a smooth system is already possible. Collection and purity testing centres have confirmed that collected household gold can be processed within 48 hours and safely moved to secure, bank-approved vaults.
Representatives from the Indian Bullion and Jewellers Association (IBJA) recently held discussions with RBI officials to fast-track these changes.
-
GlamBuzz8 hours agoKalyan Jewellers Returns To Cannes With A Statement In Couture And High Jewellery
-
GlamBuzz43 minutes agoSennes From The House Of Senco Elevates Global Presence With Rida Tharana’s Red-Carpet Appearance At Cannes Film Festival 2026
-
GlamBuzz2 hours agoAditya Roy Kapoor Joins GIVA To Flip The Gifting Script – Men Want Gifts Too
-
BrandBuzz3 hours agoJos Alukkas Launches Platinum Jewellery Campaign Featuring Dulquer Salmaan


