Limelight Diamonds announced that its sales surged 300 % year‑on‑year, a jump that eclipsed the 100 % growth forecasted by industry analysts for the lab‑grown diamond segment. The company said this spike was powered by a broader consumer base and the growing perception of lab‑grown stones as premium alternatives rather than merely budget substitutes—an insight that could reshape the jewellery retail landscape.
The retailer also doubled its physical footprint, now operating 102 stores after crossing the 100‑store milestone in May. This expansion pace—two‑fold in just 12 months—underscores the brand’s aggressive growth agenda and its success in penetrating Tier‑2 and Tier‑3 cities.
Prices of lab‑grown diamonds have largely stabilised over the past year, a trend that has made the category more appealing for regular wear. Pooja Sheth, founder and managing director, noted that consumers are increasingly buying jewellery for everyday occasions rather than holding it as an investment, a shift that could sustain higher transaction volumes.
Looking ahead, Sheth revealed the company’s next milestone: 200 outlets by the end of 2027. This target effectively doubles the current store count and signals confidence that demand will continue to rise, especially in markets that have shown stronger spending power than the metros.
The expansion plan hinges on the assumption that Tier‑2 and Tier‑3 cities will remain the primary growth engines, with awareness already high in metros but still catching up in smaller towns. If the firm can replicate its current deployment pace, the 200‑store objective could be achieved ahead of schedule, positioning Limelight Diamonds as a leading player in the fast‑growing lab‑grown diamond retail space.