Limelight Diamonds secures $1 million investment to expand across India

Lab grown diamond business Limelight Diamonds has secured a $1 million strategic investment from two jewellery retail chains. The business plans to use the funds to open more brick-and-mortar stores across India. 

“We have received good response and support for lab grown diamond jewellery from customers across the country,” said Limelight Diamonds’ founder and managing director Pooja Sheth Madhavan, ET Bureau reported. “It has also reflected in our sales and has given us the confidence to scale at a faster pace. With the government’s impetus and focus on this sunrise sector, the investment further propels us towards achieving the goal of scaling our presence in India as well as globally.”
 
Limelight Diamonds currently counts 10 brick-and-mortar stores in India as well as over 40 shop in shops in 25 cities such as Mumbai, New Delhi, Kolkata, Varanasi, Chennai, and Hyderabad. The business plans to continue to launch physical stores across the country to connect with new customers and promote lab grown diamonds as a sustainable and budget friendly choice. 

Limelight Diamonds has previously received funding from Asian jewellery manufacturing business Emerald Group, ET Retail reported. The investment was part of a strategic partnership which was designed to set up Limelight Diamonds as a unique, vertically integrated brand which jointly produces, retails, and distributes   Lab grown diamond studded jewellery in India and beyond.