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HK Group launches Mayave, a luxury lab-grown diamond jewellery brand positioned apart from mined gems
Mayave Jewellery was created with brand consultancy Open Strategy & Design and centres on creative versatility and modern styling. Dravya Dholakia is its CEO. It treats lab-grown diamonds as a distinct category, not a substitute for mined gems.
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The numbers
Figures from MxMIndia,
- HK Group has introduced Mayave Jewellery, a new brand aimed at the luxury jewellery sector
Why it matters for the brand
Mayave's pitch of lab-grown as its own luxury category rather than a cheaper mined substitute means jewellers should decide now whether to range, price and explain lab-grown stones on their own terms instead of against mined diamonds.
What to track next
- Mayave announcing store openings, retail partners or city rollouts
- Published price positioning of Mayave versus comparable mined-diamond pieces
- A large mined-diamond jeweller launching or expanding a lab-grown line
- New disclosure, labelling or grading standards for lab-grown diamonds
- Brand ambassador, celebrity or high-profile campaign announcements from Mayave
The counter-case
The case against this reading — not reported by the source.
This is a launch announcement, not evidence of demand. 'Luxury' and 'lab-grown' pull against each other. Luxury pricing depends on scarcity, provenance and resale value, and lab-grown stones have none of these. Their wholesale prices have fallen steeply and keep falling, so any premium Mayave charges is exposed to ongoing price erosion and to buyers who compare it with cheaper lab-grown rivals. Calling lab-grown 'its own category, not a substitute' is a positioning claim, and shoppers may still read it as a cheaper diamond. A new brand also has to build trust, which is hard in jewellery without a retail footprint. If Mayave leans on exclusivity it risks being too expensive for fashion buyers and not credible enough for bridal and heirloom buyers. Brand-consultancy involvement suggests the story is ahead of the sales.