Limelight Lab Grown Diamonds, India’s premier lab-grown diamond (LGD) jewellery brand, has raised INR 90 crore (approximately USD 11 million) in its latest funding round. The investment was sourced from a mix of leading fund houses, brokerage firms, family offices, and company insiders.
Limelight Diamonds – Use of Funds
This capital infusion is earmarked for operational expansion, retail growth, and enhancing design capabilities. Limelight aims to solidify its position in the burgeoning LGD market, which has seen a surge in demand within India. Pooja Madhavan, Managing Director, commented, “The funding arrives during a transformative period for LGDs in India. It will propel our growth, aiming to make Limelight the leading sustainable luxury brand globally.”
A Growing Retail Footprint
Since its inception in 2019 by Pooja Madhavan, Limelight Diamonds has rapidly expanded, now boasting over 30 standalone stores and 30 shop-in-shops across more than 35 cities in India. The new funds will support both online and offline retail expansion, responding to the growing demand for ethical luxury jewellery.
The global shift towards sustainability in jewellery has favoured the Lab-Grown Diamond (LGD) sector, which in India is growing at 15-20% annually. Limelight has positioned itself to capitalize on this trend by offering high-quality, designer pieces that meet consumer expectations. Madhavan noted, “We aim to disrupt India’s vast jewellery market with our competitively priced designer collections.”
Industry Backing and Vertical Integration
Limelight benefits from robust industry support, being backed by The Bhathwari Group and The Emerald Group, ensuring high-quality production and exclusive design capabilities. It’s also the only ‘green’ certified LGD brand in India, emphasizing its commitment to environmental, social, and governance standards.
Future Expansion Plans
With this funding, Limelight plans to extend its reach into Tier-2 and Tier-3 cities, introduce new collections, and improve its digital shopping platform. The company’s strategy aligns with consumer trends favouring sustainable, affordable luxury.
Conclusion
The INR 90 crore investment is a pivotal moment for Limelight Diamonds, strengthening its market leadership in the LGD sector. As consumer preferences evolve, Limelight is well-positioned to lead in India’s, and eventually, the world’s, move towards ethical and sustainable jewellery.
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