Limelight Lab Grown Diamonds secures fresh funding
Limelight has emerged as India’s largest sustainable luxury jewellery brand offering lab-grown diamond studded jewellery
Limelight Lab Grown Diamonds (LGD), a manufacturer chemical vapour deposition (CVD) diamond jewellery, has received a fresh investment of USD 1 million. In a press statement, the company says that the investment is part of a strategic alliance that will enable Limelight to open new stores and boost its brand presence in the country.
The company adds that recently it secured an investment to facilitate faster and more robust growth in the brand’s store expansion within the country. This investment follows a previous strategic tie-up with the Emerald Group, Asia’s largest jewellery manufacturer, aimed at establishing Limelight as a vertically integrated brand for manufacturing, selling, and distributing LGD studded jewellery in India and worldwide.
Pooja Sheth Madhavan
Limelight has emerged as India’s largest sustainable luxury jewellery brand offering lab-grown diamond studded jewellery. In the last two years, the brand has seen rapid growth and has the widest reach in the country for LGD jewellery with more than 10 Stores, and over 40 shops spread across more than 25 cities including Mumbai, Delhi, Jaipur, Varanasi, Hyderabad, Bangalore, Chennai, and Kolkata.
“We are thrilled to embark on this next phase of our journey with renewed vigour and determination. We have received tremendous response and support for LGD jewellery from customers across the country. It has also reflected in our sales and has given us immense 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 our ambitious goals of scaling our presence in India as well as globally and truly bringing India and its very own home-grown CVD diamond into the limelight,” says Pooja Sheth Madhavan, Founder, Limelight.
The statement adds that in the last financial year ending on March 31, 2024, Limelight recorded sales of INR 800 million, more than a 230 pc jump compared to last year. Of this, the branded sales have tripled year on year.
