D2C lab-grown diamond jewellery brand Cosmos Diamonds is accelerating its growth with a bootstrapped expansion strategy, targeting ₹55 crore in revenue in FY27 and ₹100 crore in annual recurring revenue (ARR) by the end of 2027. Founded by Sanjana Tripuramallu in 2021, the company is building its business around transparency, heritage-inspired jewellery, and a unique 100% buyback policy as India’s lab-grown diamond market continues to gain momentum.
The brand reported ₹20 crore in revenue in FY26, more than doubling its FY25 revenue of ₹9.77 crore, while currently operating at an ARR of approximately ₹30 crore.
Cosmos Diamonds was founded after Tripuramallu’s personal experience while shopping for her engagement ring during the pandemic highlighted two major gaps in the market—high diamond prices and poor resale value. As consumer interest in lab-grown diamonds grew, she identified an opportunity to create jewellery that combined affordability with the trust, cultural relevance, and long-term value traditionally associated with conventional jewellery.
Before launching the brand, Tripuramallu engaged with more than 1,000 women to understand consumer preferences. The research revealed that Indian buyers wanted heritage-inspired designs rather than minimalist collections, along with stronger financial assurance after purchase.
To address these concerns, Cosmos Diamonds built its business around traditional Indian-inspired jewellery collections backed by a contractual 100% buyback programme, allowing customers to choose between cash refunds or store credit. The policy aims to strengthen customer confidence in a category where long-term value remains one of the biggest purchase considerations.
The company currently operates flagship stores in Bengaluru and Vijayawada, delivering a 55% in-store conversion rate and a 40% repeat customer rate. As part of its expansion strategy, Cosmos Diamonds plans to increase its retail footprint to five stores while adding outlets in Hyderabad, Visakhapatnam, and Chennai by the end of 2027.
Unlike many fast-growing jewellery startups, Cosmos Diamonds is pursuing expansion without external funding. The company says every new store must demonstrate sustainable profitability before further expansion, reflecting its disciplined, bootstrapped approach to growth.
Alongside retail expansion, the brand has also developed internal technology systems connecting customer feedback, inventory planning, and sales performance across online and offline channels to improve operational efficiency.
India’s lab-grown diamond jewellery market is projected to grow from $2.8 billion in 2025 to $11.6 billion by 2035, creating significant opportunities for emerging brands. As the category evolves, Cosmos Diamonds is positioning itself through a combination of design-led innovation, financial transparency, and sustainable expansion while aiming to build a globally recognised Indian jewellery brand.
Source: Based on publicly available reporting, with additional editorial adaptation and analysis.
