Mumbai-based lab-grown diamond jewellery brand Limelight Diamonds has opened a new store in Chennai’s Anna Nagar, its 23rd exclusive outlet in India.
The company, founded in 2019, plans to establish seven additional stores across the country by the end of the year. This expansion reflects the increasing demand for lab-grown diamonds (LGDs) among Indian consumers, driven by affordability and heightened awareness.
The Growth of Lab-Grown Diamonds in India
Lab-grown diamonds, identical to mined diamonds in composition and appearance, are witnessing steady growth in India. According to Limelight Diamonds’ Founder and Managing Director, Pooja Sheth Madhavan, the sector is expanding at a rate of 15-20% annually, underpinned by growing acceptance among consumers.
“Awareness of LGDs has significantly increased, and almost every customer is aware that lab diamonds are absolutely real as they are also made of carbon and identical to mined diamonds,” said Madhavan.
The lower cost of lab-grown diamonds, due to the absence of mining expenses, is also a factor attracting consumers. This affordability allows customers to explore higher-quality or larger designs while maintaining the same level of craftsmanship and material integrity.
Chennai Store Highlights and Strategy
The new store in Chennai underscores Limelight Diamonds’ commitment to reaching a broader audience. Positioned in Anna Nagar, the outlet leverages Chennai’s mix of tradition and modernity to align with the brand’s strategy of combining cultural heritage with contemporary design.
“Having received such fantastic customer response for our brand, it brings me great joy and pride to open up our latest store in Chennai,” said Madhavan. “Like all other cities, we hope to garner just as much appreciation for the premium quality, make, and designs of our jewellery from our customers here as well.”
The store launch also marks a significant step in expanding the company’s physical footprint, complementing its direct-to-customer online platform. With its roots in Mumbai, Limelight Diamonds aims to further solidify its presence across the country.
Industry Implications and Future Prospects
The growth of lab-grown diamonds represents a notable shift in the jewellery industry. Jewellers are increasingly incorporating lab-grown options to meet the evolving preferences of customers seeking sustainable and cost-effective alternatives to mined diamonds.
Limelight Diamonds’ expansion reflects this trend, offering insights for jewellers looking to diversify their inventory. As awareness of lab-grown diamonds increases, the industry is poised for continued growth, particularly in regions where consumer interest in ethical and innovative products is rising.
