Limelight Diamonds plans to expand to 200 stores by 2027 after tripling sales. The retailer recently crossed the 100-store milestone, driven by rising demand for lab-grown diamonds across metros and smaller cities. Founder Pooja Sheth said, "We doubled our stores in terms of numbers, but we tripled our sales this year."
Limelight Diamonds plans to expand to 200 stores by 2027 after tripling sales and crossing the 100-store milestone, driven by rising demand for lab-grown diamonds across metros and Tier-2 and Tier-3 cities.
Lab-grown diamond retailer Limelight Diamonds plans to expand its retail network to 200 stores by 2027 after tripling sales over the past year, Founder and Managing Director Pooja Sheth said, citing strong demand across metros as well as Tier-2 and Tier-3 cities.
The company recently crossed the 100-store milestone and expects rising consumer acceptance of lab-grown diamonds to support its next phase of expansion. Sheth said the company had doubled its store count over the past year while sales grew at an even faster pace, reflecting increasing adoption across age groups and geographies.
"We doubled our stores in terms of numbers, but we tripled our sales this year," Sheth said. "We are seeing bumper performances from all the cities, including Tier-2 and Tier-3 cities, clearly showing consumer demand across the country for lab-grown diamonds is rapidly increasing."
Limelight Diamonds now operates 102 stores after crossing the 100-store mark during Dussehra. Having achieved its 2026 expansion target ahead of schedule, the company is now aiming to double its footprint again.
"We're very excited that we have achieved 100 stores in 2026. The next target is 200 in 2027," Sheth said.
Sheth added that prices of lab-grown diamonds have largely stabilised over the past year, making the category more attractive to buyers. She said consumers are increasingly purchasing jewellery for regular wear rather than treating diamonds as investment assets.
"Lab-grown diamonds have stabilised over the last year. They're no longer being looked at as a cheaper alternative, but as a bigger size, better diamond alternative in the minds of consumers," she said.
The company is also seeing demand broaden beyond younger buyers. According to Sheth, millennials are driving purchases across engagement rings, bridal jewellery and self-purchases, while men's jewellery is also gaining traction.
Average transaction values at Limelight Diamonds' retail stores range between ₹40,000 and ₹70,000, which Sheth said is higher than what is typically seen in the natural diamond segment.
The company expects Tier-2 and Tier-3 markets to remain its biggest growth opportunity. While awareness is already high in metro cities, Sheth said smaller cities are showing stronger spending power and a greater affinity for jewellery, making them a key focus for future expansion.