Lab-grown diamond retailer Limelight Diamonds has announced ambitious expansion plans to reach 200 stores by 2027, according to reports from CNBC TV18. The company recently crossed the 100-store milestone during Dussehra and is now operating 102 stores after achieving its 2026 expansion target ahead of schedule. Founder and Managing Director Pooja Sheth stated that the company had doubled its store count over the past year while tripling sales, reflecting increasing adoption across age groups and geographies. The expansion comes as the company looks to strengthen its presence in the lab-grown diamond jewellery market and enter new domestic and international markets.
As reported by CNBC TV18, Sheth highlighted that the company is seeing bumper performances from all cities, including Tier-2 and Tier-3 cities, demonstrating that consumer demand for lab-grown diamonds is rapidly increasing across the country. The company has now expanded to 45 Indian cities with its 102 stores, reflecting its strategic approach to reach consumers across different markets in India. The company expects Tier-2 and Tier-3 markets to remain its biggest growth opportunity, with smaller cities showing stronger spending power and greater affinity for jewellery compared to metro cities where awareness is already high.
According to CNBC TV18, Sheth noted that lab-grown diamond prices have largely stabilised over the past year, making the category more attractive to buyers. Consumers are increasingly purchasing jewellery for regular wear rather than treating diamonds as investment assets. The company's average transaction values range between ₹40,000 and ₹70,000, which Sheth said is higher than what is typically seen in the natural diamond segment. Millennials are driving purchases across engagement rings, bridal jewellery and self-purchases, while men's jewellery is also gaining traction. As competition develops in the lab-grown diamond jewellery segment, Limelight's next phase of growth will involve expanding its store network, entering new markets and exploring opportunities outside India.
As reported by CNBC TV18, Sheth emphasized that lab-grown diamonds are no longer being looked at as a cheaper alternative but as a bigger size, better diamond alternative in consumers' minds. The company expects stable prices and rising acceptance among millennials to support future growth. Karamjyot Chawla, director of retail expansion, said the focus would remain on entering new markets while increasing the brand's presence across India. The retailer's expansion strategy focuses on leveraging the growing demand for lab-grown diamonds across metros and Tier-2 and Tier-3 cities, positioning itself to capitalize on the increasing consumer adoption of this category while exploring international market opportunities.
