Diamonds have always been about more than the stone itself. Rarity, heritage, craftsmanship and the stories surrounding them have all shaped their place in luxury. But as consumer preferences change, so does the conversation around value.

The Global Luxury Goods & Services Management (MGLuxM) program students explored this shift during a guest lecture with Richa Singh, Managing Director of the Natural Diamond Council (NDC).

On 31^st March 2026, SP Jain Global’s Mumbai campus hosted a thought-provoking conversation that brought the diamond industry into the classroom. The session explored how evolving consumer expectations are reshaping the way luxury products are positioned, communicated and perceived.

One of the key discussions was the difference between natural and lab-grown diamonds. Singh spoke about the role of rarity and heritage in the natural diamond narrative, while also highlighting the importance of transparency around a diamond’s journey from mine to market. For students, the discussion offered a closer look at how a luxury category communicates its value when consumers have more choices than ever.

Richa also explored the rise of micro-obsessions and how trends have captured consumer attention around the world. These examples gave students a glimpse into how quickly cultural moments can influence what people want, talk about and buy.

The discussion continued through an interactive Q&A, with the MGLuxM students asking about career opportunities, industry challenges and the future of brand building. It gave them a chance to move from understanding the market to thinking about where they could fit into it.

The session concluded with a surprise collectible giveaway for students. For the MGLuxM students, the session provided valuable insights into how consumer preferences, cultural trends and changing perceptions of value continue to shape the luxury industry.