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Limelight secures US$1 million strategic investment, sets sight on store and brand expansion plans

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Limelight secures US$1 million strategic investment, sets sight on store and brand expansion plans

The newly raised capital comes in the form of a strategic alliance with industry players and takes the valuation of the company to Rs 340 crore

Mumbai: Limelight Lab-Grown Diamonds Ltd has announced a landmark deal with a strategic investment of US$1 million from industry players, taking the valuation of the company to Rs 340 crore. The newly raised capital comes in the form of a strategic alliance that will enable Limelight to open new stores and boost its brand presence in the country.

Prior to this, the company had secured an investment from jewellery manufacturer Emerald Group as part of a strategic tie-up with an objective of establishing Limelight as a vertically integrated brand to jointly manufacture, sell and distribute LGD-studded jewellery in India and worldwide. The current investment plays a similar role in the company’s aim of faster and more robust growth. 

Commenting on the milestone, Pooja Sheth Madhavan, Founder, Limelight Lab-Grown Diamonds, said, “We are thrilled to embark on the 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, this 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 company into the ‘Limelight’.”

In FY24, Limelight recorded gross sales of over Rs 80 crore, more than a 230% jump compared to the earlier year. Of this, branded sales tripled year on year, resulting in a boost to the company’s confidence in directly engaging with customers and expanding its retail presence. 

Founded in 2019, Limelight has emerged as a leading sustainable luxury jewellery brand, offering lab-grown diamond-studded jewellery. In the last two years, the brand has seen rapid growth and has 10+ stores (EBOs), 40+ shop-in-shops spread across 25+ cities including Mumbai, Delhi, Jaipur, Varanasi, Hyderabad, Bangalore, Chennai, Kolkata, and more.

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