Limelight Diamonds, a leading lab-grown jewelry brand, plans to open seven new exclusive outlets across India by the end of this year, responding to the growing consumer interest in lab-grown diamonds. The company aims to expand its offline presence to meet the increasing demand and raise awareness of the product.
Pooja Sheth Madhavan, founder and managing director of Limelight Diamonds, shared in a statement, “Awareness of lab-grown diamonds has significantly increased, and nearly every customer now understands that lab-grown diamonds are absolutely real, as they are made of carbon and are identical to mined diamonds.”
The brand reports that the lab-grown diamond sector is growing at an annual rate of 15% to 20%, driven by Indian consumers’ increasing acceptance of these more sustainable and affordable alternatives to traditional diamonds. The shift toward sustainable products, combined with the lower price point of lab-grown diamonds, has fueled this growth.
Limelight Diamonds recently opened an exclusive outlet in Chennai’s Anna Nagar, bringing its total number of brick-and-mortar stores to 23 across India. “We hope to garner the same appreciation for the premium quality, craftsmanship, and designs of our jewelry from our customers in Chennai as we have in other cities,” said Madhavan.
Founded in 2019 and based in Mumbai, Limelight Diamonds operates both online through its direct-to-consumer e-commerce platform and through its exclusive brand outlets. The company has raised $1.36 million in funding over two rounds, according to Tracxn, as it continues to expand its reach in India.
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