The company is aiming to expand its retail footprint through a combination of company-owned and franchise-operated stores, with a target of scaling up to 200 stores by 2027
Limelight Diamonds, a lab-grown diamond jewellery brand, has completed a Rs 275 crore strategic funding round led by the Company’s core promoters, the Bhathwari Group, along with participation from key strategic partners from the jewellery industry.
The round also saw strong participation from several of the company’s franchise partners. The capital has been raised through a combination of equity and cash consideration. The fund will be utilised towards strengthening the company’s vertical integration capabilities, expanding manufacturing infrastructure, enhancing design and innovation capabilities and accelerating retail expansion across India.
“This funding round is a strong validation of Limelight’s vision and the growing potential of the lab-grown diamond industry in India. We believe lab-grown diamonds present a significant opportunity for India to lead a new-age luxury category globally. This investment will help us strengthen Indian manufacturing, accelerate retail expansion and build a world-class brand from India for the world,” stated Pooja Madhavan, Founder and Managing Director (MD), Limelight Diamonds.
The company also confirmed that its retail expansion plans remain firmly on track, with aggressive growth planned across metro cities, tier 1 and emerging tier 2 markets. The company aims to significantly increase its national retail footprint over the next phase of growth through a combination of company-owned and franchise-operated stores, with a target of adding 100 stores in 2026 and scaling up to 200 stores by 2027.
The company added that the funding comes at a time when consumer interest in lab grown diamonds is witnessing rapid momentum globally, led by evolving preferences, value conscious luxury consumption and sustainability considerations. BSC Advisors served as the financial advisor to Limelight Lab Grown Diamonds for this strategic fund raise.
