Zen Diamond India has appointed Rushina Shah as Vice President – Business Development, doubling down on its aggressive retail expansion as India’s diamond jewellery market heats up. Shah will lead Retail Expansion, Franchisee Development, and Retail Design & Projects for the 1890-heritage, Istanbul-founded brand. Her appointment comes as Zen Diamond accelerates India growth after entering in 2024.
The brand, which operates 450+ stores across 22 countries, launched its 7th Indian outlet in April 2026 at Lake Shore Mall, Hyderabad. It already has stores in Mumbai, Chandigarh and Bengaluru.
The India Play: 100 Stores, Franchise-Led Growth
MD Neil Sonawala confirmed Zen Diamond is targeting 100 stores across India by 2030. The first 10-15 stores will be funded via internal accruals, with franchise and alternate funding models explored for scale. The brand has already invested ₹100 crore in India and set up a Mumbai manufacturing unit with capacity for 5 lakh pieces annually.
Shah’s mandate fits this roadmap perfectly. With 5+ years at BlueStone as Head of Business Development and a recent stint at Limelight Lab Grown Diamonds, she brings deep expertise in omnichannel retail and franchise scaling. At Zen, she’ll focus on “strengthening the brand’s footprint across India and creating exceptional retail experiences aligned with the company’s global vision”.
Product + Positioning
Zen Diamond is positioning itself in the “everyday luxury” segment with European design philosophy. Stores feature neutral grey palettes, premium finishes, and collections spanning natural diamond jewellery, platinum for men, 18K gold, watches, perfumes, pens. Price points start at ₹16,000, averaging ₹1.5 lakh, aiming at aspirational urban buyers.
The brand has partnered with the Natural Diamond Council for authenticity and signed Jennifer Lopez as global brand ambassador. It’s also rolling out an e-commerce platform and shop-in-shop tie-ups with Bernier outlets.
Market Context
India is now the world’s 2nd largest diamond market after the US. Branded diamond jewellery already accounts for 40%+ sales in Tier 1 cities, with Tier 2 growing fast. The diamond jewellery market crossed $8.7 bn in early 2025 and is projected at 9%+ CAGR to 2030, driven by young, aspirational consumers. Zen Diamond is also tapping franchise expansion via Francorp to scale 20+ franchise outlets by 2026. With Shah leading retail design and franchise development, the brand is clearly betting on experience-driven stores to win share from unorganised players.
What’s Next
With 6 operational stores and Hyderabad as the South India beachhead, Zen plans 5 more stores in Hyderabad alone over next 2-3 years. As India’s diamond market rebounds post-tariff cuts, Shah’s retail playbook will be key to hitting that 100-store milestone.
