Limelight Lab Grown Diamonds to open six new stores by Diwali

Jewellery brand Limelight Lab Grown Diamonds is expanding swiftly across India and plans to open six new stores before the Diwali festive season. The business expects to register 125% year-on-year sales growth in the 2024 financial year. 

“Awareness on lab grown diamonds is spreading fast in India,” said Limelight Lab Grown Diamonds Limited’s founder and managing director Pooja Sheth Madhavan in an exclusive interaction with FashionNetwork.com. “Consumers are now more educated on these non-mined diamonds and how they are grown in labs but remain 100% real. The unique and independent personality of lab grown diamonds as a sustainable and environmentally friendly yet extremely affordable gemstone is being well accepted by millennial consumers and is increasingly reflecting in the sales of lab grown diamond studded jewellery across India.”
 
Limelight currently counts 43 points of sale located across India and has a network of over 65 retail partners. The business is also keen to expand its international presence and has forayed into the UAE market. In future, Limelight plans to launch in key growth markets such as the US, Australia, and Europe.

“In FY-23 Limelight sales closed at Rs 30 crore and we are expecting a 125% growth in sales this year,” Pooja Sheth Madhavan told FashionNetwork.com. “Moreover, lab grown diamonds also have resale opportunities with brands like ours (Limelight) offering 80% buyback and 100% exchange opportunities. This together with its economic and environmental benefits is proving to be successful in attracting millennial brides.” 
 
Limelight Lab Grown Diamonds Limited launched in 2019 and offers sustainable lab grown CVD diamond studded jewellery. The brand is currently present in over 25 Indian cities including Mumbai, Delhi, Hyderabad, Bangalore, Chennai, and Kolkata. Limelight also recently opened new points of sale in a number of multi-brand Shoppers Stop stores in Mumbai, Hyderabad, Kolkata, Lucknow, and Bengaluru.