Solitario witnesses record sales during Diwali festival

Solitario, a lab-grown diamond jewellery brand from India witnessed record sales during the festival of Diwali resulting in a significant rise in revenue.

The brand witnessed strong sales particularly in Mumbai, Pune, Chandigarh, and Lucknow with these cities emerging as top performers during the festive sale.

On the back of strong sales during the festive season coupled with the rising demand for lab-grown diamond jewellery, Solitario is targeting a revenue of Rs 100 crore ($11.9 million) in the next financial year.

Commenting on the sales, Ricky Vasandani, co-founder CEO of Solitario in a statement said, “The consumers response to our Diwali offering has reinforced our confidence in the growing demand for lab-grown diamonds. As we aim for 25% year-over-year growth surpassing the industry’s 18% rate, this success is a reflection that we are moving in the right direction.”

“The consumer response has been specially encouraging for a new product, and it refuels our commitment to raising consumer awareness of lab-grown diamonds as an innovative product category. While achieving a 100% sales growth remains our aspiration, we look forward to surpassing Rs 100 crore in revenue in the coming fiscal year,” he added.

Solitario is a leading lab-grown diamond brands with prominent presence spanning across 18 stores and 20 shop in shops in 7 countries and 21 cities across the globe.