Limelight Lab Grown Diamonds Set to Launch Six New Stores by Diwali

Limelight Lab Grown Diamonds, a jewellery brand, is rapidly expanding in India with the aim of launching six new stores ahead of the Diwali season and anticipates achieving a 125% year-on-year sales increase in the 2024 fiscal year.
Limelight Lab Grown Diamonds Set to Launch Six New Stores by Diwali

According to Pooja Sheth Madhavan, the founder and managing director of Limelight Lab Grown Diamonds Limited, there is a rapid increase in awareness about lab-grown diamonds in India, with consumers becoming more educated about these non-mined diamonds and their eco-friendly attributes, leading to a surge in sales of lab-grown diamond studded jewellery, particularly among millennial consumers.

Limelight Lab Grown Diamonds currently operates 43 points of sale across India and collaborates with over 65 retail partners. The company is also looking to expand its global presence, having entered the UAE market, with future plans to launch in key growth markets including the US, Australia, and Europe.

Madhavan mentioned that in the fiscal year 2023, Limelight achieved sales of Rs 30 crore and anticipates a remarkable 125% growth in sales for the current year. Lab-grown diamonds offer additional benefits, including resale opportunities, with brands like Limelight providing options for 80% buyback and 100% exchange, which is proving appealing to millennial brides.

Established in 2019, Limelight Lab Grown Diamonds Limited specializes in sustainable lab-grown CVD diamond-studded jewellery and has a presence in over 25 Indian cities, including Mumbai, Delhi, Hyderabad, Bangalore, Chennai, and Kolkata. The brand has also expanded its reach by opening new outlets within various multi-brand Shoppers Stop stores in Mumbai, Hyderabad, Kolkata, Lucknow, and Bengaluru.

Diamond World