Goldiam International has signed Letters of Intent (LOIs) for opening 12 new retail stores under its "Origem" brand across major Indian cities. The company announced this retail expansion strategy on December 22, 2025, as part of its long-term growth plans to strengthen customer engagement across key markets.

Store Opening Timeline and Locations

The proposed retail stores are expected to be operational subject to execution of definitive agreements, receipt of statutory approvals, and completion of fit-out activities. The expansion covers strategic locations across multiple regions with staggered opening dates.

Expansion Strategy Details

The retail expansion spans from December 2025 to August 2026, covering major metropolitan areas and important regional centers across India. The company has indicated that specific locations and full addresses of respective stores will be disclosed to stock exchanges at the time of commencement of operations for each store.

Existing Store Network Update

Goldiam International currently operates retail stores at multiple locations including Kharghar (Navi Mumbai), Turner Road Bandra West, Mulund West, Fairmount Hotel near T2 Terminal at Chhatrapati Shivaji Maharaj International Airport Road, Andheri Link Road, Bengaluru, Noida Central, Wave One Mall Noida, Phoenix Palladium, R City Mall Ghatkopar, and Nexus Elante Mall Chandigarh.

The company has noted that its Borivali West store has been closed as the building is undergoing redevelopment, and the company is evaluating relocation options including a mall or other suitable location that offers higher footfall.

Strategic Market Positioning

This development aligns with the company's long-term strategy of expanding its retail presence and strengthening customer engagement across key markets. The phased rollout approach allows systematic establishment of the Origem brand presence across different regions of India, covering northern, western, southern, and eastern markets along with key cities in Rajasthan.

Goldiam International , a leading player in the lab-grown diamond jewelry industry, has demonstrated remarkable resilience and growth in the face of significant market challenges. The company reported a 43% year-on-year revenue growth in Q2 and a 41% growth in H1, despite grappling with steep US tariff increases on lab-grown diamond jewelry exports.

Navigating Tariff Challenges

The United States, Goldiam's primary market, raised tariffs on lab-grown diamond and natural diamond jewelry from 16% to 56% during Q2. In response, Goldiam swiftly implemented a US origin casting model, a globally accepted and compliant approach that effectively mitigated tariff exposure. This strategy involved casting raw gold into unfinished jewelry pieces within the United States through its US subsidiary, providing domestic employment opportunities. These castings were then shipped to India for alterations, including polishing and diamond setting.

Financial Performance

Despite the disruption caused by the tariff increase, which impacted B2B operations for about 30 days during Q2, Goldiam's consolidated revenues increased by 43% year-on-year. The company's half-year revenue grew by 41%. EBITDA for both Q2 and H1 grew by 37%, with the EBITDA margin for H1 remaining stable at 21.60%. Consolidated PAT for Q2 and H1 grew by 42% and 47%, respectively.

Product Mix and Order Book

Lab-grown diamond jewelry exports contributed 90% to Goldiam's B2B sales in Q2, while online revenues accounted for 20% of the total revenue. As of September 30, the company's order book position stood at approximately INR 200.00 crores, indicating strong demand despite operational challenges.

ORIGEM Expansion

Goldiam successfully raised INR 202.00 crores through a Qualified Institutional Placement (QIP) to accelerate the expansion of ORIGEM, its India-focused B2C lab-grown diamond jewelry retail brand. ORIGEM currently operates 11 stores across Mumbai, Noida, and Bengaluru. During Q2, ORIGEM recorded a total revenue of INR 2.80 crores, with an average store fleet of only 6 stores.

Future Outlook

The company plans to strengthen ORIGEM's position in North and South India, with 15 to 18 additional stores at various stages of fit-outs, negotiations, and legal formalities. Goldiam aims to have 20 to 25 operational ORIGEM stores by March 31.

Market Trends and Opportunities

Goldiam's management noted that lab-grown diamond prices have stabilized, with smaller diamonds (0.12 carats and below) seeing price increases of 5% to 11%. The company is also exploring opportunities in fashion jewelry, which currently accounts for about 15% of its sales, with the potential for growth.

Conclusion

Goldiam International's strong performance in the face of significant market challenges demonstrates its adaptability and strategic acumen. The company's focus on expanding its retail presence through ORIGEM, coupled with its successful navigation of tariff challenges in its B2B business, positions it well for continued growth in the evolving lab-grown diamond jewelry market.

Investors should note that while the company has shown impressive growth, the lab-grown diamond industry is dynamic, and future performance may be influenced by factors such as market demand, regulatory changes, and competitive pressures.