Limelight Diamonds to open seven stores as lab grown jewellery demand grows (#1688787)

Lab grown jewellery brand Limelight Diamonds plans to open seven exclusive brand outlets across India by the end of the year to cater to increasing consumer demand for and acceptance of lab grown diamonds. 

“Awareness of the lab grown diamonds has significantly increased and almost every customer is aware that lab grown diamonds are absolutely real as they are also made of carbon and identical to mined diamonds,” said Limelight Diamonds’ founder and managing director Pooja Sheth Madhavan, the Press Trust of India reported. By expanding its offline presence, the brand aims to connect with more shoppers in India. 

The business has reported that the lab grown diamonds sector is growing at a rate of between 15% and 20% year on year as Indian consumers increasingly accept lab grown diamonds. The rising consumer demand for sustainable products and lab grown diamonds’ more affordable price point has also helped to drive sales growth. 

“Like all cities, we hope to garner just as much appreciation for the premium quality, make, and designs of our jewellery from our customers here as well,” said Madhavan about the business’ recent exclusive brand outlet opening in Chennai’s Anna Nagar. The brand launched its first store in the city to bring its pan-India brick-and-mortar store total to 23.

Limelight Diamonds is based in Mumbai and retails from its direct to customer e-commerce store as well as its exclusive brand outlets. The brand was founded in 2019 and the internet-first business has raised a total of $1.36 million in two funding rounds, according to Tracxn.