Limelight Diamonds bags Rs 275 Cr to add 200 stores by 2027
What's the deal? Lab grown diamond jewellery brand Limelight Diamonds has raised Rs 275 crore (about $29 million) in a growth equity round led by its core promoters, the Bhathwari Group.
Key strategic partners from the jewellery industry also joined. The capital came through a mix of equity and cash consideration.
Founded in 2019 by Pooja MadhavanDealroom has a profile for this one. Try Dealroom →, the brand specialises in pure CVD lab grown diamonds. It sells solitaires, everyday fine jewellery, and statement pieces to modern Indian consumers.
Why now? Limelight says it has the widest retail footprint for lab grown diamond jewellery in India, with over 75 outlets across more than 45 cities.
It plans to fund the next leg of that expansion. The target: 100 stores in 2026, scaling to 200 by 2027, through company owned and franchise operated outlets across metro, Tier I, and Tier II markets.
The money will also strengthen vertical integration, manufacturing, and design capabilities.
What could go wrong? Aggressive store growth carries execution risk, and franchise expansion can dilute brand control.
Lab grown diamonds also face a well documented pricing problem: as production scales, prices keep falling, which can squeeze margins even as volumes rise.
The signal: Dealroom classifies Limelight Diamonds as a breakout stage company, and this promoter-backed cheque underscores that momentum, funding a jump from over 75 outlets to a targeted 200 stores by 2027. Positioned as a maker of luxury Type IIa CVD diamonds with cost and sustainability advantages, the brand is betting that India's diamond cutting heritage and rising domestic demand can push lab grown stones from novelty to mainstream.
Read more: Entrackr
Image credit: Seoul Guide Korea
