Lucira Jewelry, the design-based fine lab-grown diamond (LGD) jewelry brand founded by Rupesh Jain and Vandana Jain, has announced a strategic franchise partnership with Franchise India Brands Limited. Starting from its flagship store in Chembur, Mumbai and followed by a larger experience store in Pune, Lucira aims to open 20+ outlets in metros like Bangalore, Delhi NCR, Hyderabad, Chennai and Ahmedabad within 24 months, blending online omni- channel presence with elegant brick-and-mortar experiences.
Market Growth and Consumer Shift
India’s lab-grown diamond jewellery market is estimated at $300-350 million as of 2024 and is
growing at a ~15% CAGR over the next decade. This rapid expansion positions it as an affordable
entry point for consumers, driven by brands pivoting from natural diamonds and leveraging digital
channels for awareness. Younger urban buyers favor LGDs for their 70-80% lower per-carat pricing, sustainability, and quality parity with mined diamonds.
Changing Jewellery Preferences in India
Now-a-days people have started favouring diamonds over gold for their modern appeal, sustainability, and lightweight designs suited for daily wear, investments, and occasions-shifting from traditional heavy gold to versatile LGD pieces amid e-commerce growth and organized retail hitting 43% share by 2028.
Lucira’s Brand Philosophy and Market Positioning
Lucira stands out as a specialist in solitaires for wedding, anniversary, and milestone jewelry with
intentional, ethical designs inspired by the word “Lucent” (to shine). Born from a vision of
meaningful luxury, its IGI/GIA/SGL-certified LGDs match mined diamonds in brilliance but cost less,
handcrafted by artisans fusing tradition and contemporary style for individuality. Lucira offers
exceptional pricing, constant innovation, VC-backed credibility (from Blume Ventures), and omni-
channel focus targeting urban millennials with exquisite jewelry including pendants, earrings, rings,
and bracelets.
Founder’s Perspective
“Since we know that jewelry is a more touch-and-feel kind of product where people can discover us online, but before buying they want to see, try on and check the fit of the design,” said Rupesh Jain, Founder, Lucira Jewelry.
Franchise Partnership and Industry Outlook
“Lucira’s franchise model aligns perfectly with India’s booming LGD sector, projected at 13.7% CAGR. Franchise India’s expertise will drive multi-unit growth, creating jobs and capturing Gen Z’s shift to conscious luxury,” said Gaurav Marya, Founder and Chairman, Franchise India Brands Limited.
Strategic Vision for the Future
This tie-up positions Lucira to illuminate India’s jewelry evolution, blending profitability with
purpose—inviting franchise partners to join a movement where every sparkle celebrates connection.
About Lucira
Lucira is a modern design-first fine jewelry brand redefining what luxury means for today’s conscious consumer. Founded by Rupesh Jain—who scaled Candere as one of India’s pioneering digital jewelry brands before its acquisition by Kalyan Jewellers—this venture marks his bold second innings. The brand blends ethical craftsmanship with digital-first innovation to create jewelry that celebrates life’s most meaningful moments. Currently available online with nationwide delivery, Lucira is expanding its retail footprint across major cities with experience-driven stores. Made with certified lab-grown diamonds, recycled gold, and transparent practices, Lucira proves sustainability and sophistication can coexist — crafted for those who choose meaning over materialism.
About Franchise India
Franchise India stands as India’s largest franchise and retail solutions provider with 25+ years of
excellence. The company boasts an extensive network of 18,000+ brands across sectors like retail,
jewelry, education, and F&B, facilitating thousands of deals across cities and countries. It empowers investors with proven opportunities and helps brands scale through strategic guidance, events, and market insights.
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