The company currently operates two stores in Mumbai and has signed up for three more — “two in the south and one in the north,” taking the total to five by year-end.

“We are looking at retail expansion in India. We are planning to have 100 stores across India in the next five years, initially in the major metros, followed by tier II cities,”
— Neil Sonawala, Managing Director, Zen Diamond India

The focus will be on establishing outlets in high-end malls that already attract premium shoppers.

“The stores will be located in quality malls, which already attract consumers and already have the presence of international brands.”

The company has already made a significant investment in the Indian market.

“For our India presence, we’ve already invested ₹100 crore, funded through internal accruals.”

Initial store openings will continue to be internally funded, but Zen Diamond is open to other models going forward.

“We plan to expand, at least up to 10–15 stores, through internal accrual. Post that, for 100 stores in India in the next five years, we will tap different channels for funding. Maybe it could also be a franchise or we could also have some other alternate funding arrangements. It’s a bit premature to talk about that at this stage.”

Zen Diamond currently operates over 450 stores in 20 countries, and is now ramping up its digital presence in India.

“We are launching an e-commerce platform. So, we will also have a shop-in-shop in 4–5 Pernia’s Pop-Up outlets by the end of the year.”

In terms of product offering and design strategy for India, the company is blending global appeal with local preferences.

“The Zen Diamond stores in India will have 75–80% of selected international designs. But of course, in India we also need to blend with the local culture and the local taste and preferences. So, 20% of designs are also created in India and which are more on the Indo-Western line.”

“We are on the modern, trendy, international side of designs, ranging from ₹20,000 and going all the way up to ₹15 lakh. Our focus is everyday wear, evening wear and gifting.”

To support local demand and ensure quick supply, Zen Diamond has also established a manufacturing unit in Mumbai.

“We have a manufacturing unit in Mumbai. So, everything is made in India in our facilities. We have a capacity of close to 35,000–40,000 pieces a month. So, almost 500,000 pieces a year.”