Driving a High Lumen LED cost effectively

Hi, Can we drive this kind of High Lumen LEDs without a Voltage Booster IC?? http://in.rsdelivers.com/product/osram-opto-semiconductors/gw-p9lrs1em-pqps-40s7/duris-s8-led-white-4000k-7-step/7916924.aspx For example directly through mains (230v) using a DC regulated power supply ?? Its Forward Voltage is 26.6  and Forward current  10mA to 240mA I am actually trying to find a cheaper way to drive High lumen LEDs. I'd welcome other ideas or circuit diagram for this ! Thanks -Amogh

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