LIMELIGHT DIAMONDS
Limelight Diamonds targets 200+ stores by 2027 as lab-grown demand surges
As India’s lab-grown diamond market gains scale and consumer confidence, Limelight Diamonds is positioning itself at the forefront of the category’s organised retail expansion.
Bakul Limbasiya receives APO National Award for contributions to India’s lab-grown diamond sector
Bakul Limbasiya, founder of Bhathwari Technologies, has been honored with the APO National Award for his pioneering contributions to India's lab-grown diamond industry. This prestigious award recognizes his role in producing India's first lab-grown diamond and shaping the nation's position as a global hub for this technology-driven sector.
Limelight Lab Grown Diamonds accelerates growth with expansion and INR 250 Cr fundraise
Limelight Diamonds is set to become India's first fully integrated lab-grown diamond brand. The company plans to grow and manufacture its own diamonds. This move aims to reduce costs and speed up product launches. Limelight also intends to open 200 stores by 2027. This expansion will strengthen its position in the growing lab-grown diamond market.
As gold prices soar, lab-grown diamonds shine brighter in wedding season
With the price of gold on the rise, lab-grown diamonds are becoming more popular for weddings this year.
ETtech deals digest: Startups raise $198 million this week, up 65% on-year
Startups raised $198.3 million between February 1-7, a 65.2% increase from last year. Key deals include Myntra’s $81 million, Cashfree Payments’ $53 million, TrueFoundry’s $19 million, and Limelight Diamonds’ $11 million funding.
Limelight Diamonds aims to open 7 retail stores; inaugurates first outlet in Chennai
Limelight Diamonds has opened its first store in Chennai, its 23rd in India, as part of its expansion plan. The Mumbai-based lab-grown diamond brand aims to open seven more stores by year-end. The company notes a 15-20% annual growth in the lab-grown diamond sector, driven by increased customer awareness and affordability.
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Are diamonds a good investment option?
Falling prices and an unhealthy secondary market do not make it a good investment.
Are lab-grown diamonds forever? Examining their impact on the natural gems business
It’s 2024, and that carefully crafted chain of the diamond business is now being disrupted. Enter lab-grown diamonds (LGD). A lab-grown diamond, priced a fifth of a stone coming from a De Beers mine in Africa or from the Russian giant Alrosa, looks indistinguishable from a mined diamond. That alone has kindled consumer demand.
Rising gold prices drive Indian consumers towards lab-grown diamonds
The recent rise in gold prices has shifted consumer interest towards lab-grown diamond (LGD) studded jewellery due to its affordability. Major metropolitan areas are witnessing a surge in demand, with growth rates exceeding 15%, particularly in tech-populated cities like Pune. Consumers appreciate the value proposition of LGD jewellery, which offers more gold proportion within the same budget compared to natural diamonds.
Global glut takes shine off Indian lab-grown diamonds
Indian lab-grown diamonds (LGDs) prices crashed by 45% in FY24 due to overproduction in global markets. Indian LGD exports dropped by 18.2% in April to $83.77 million as demand rises with increasing gold prices, prompting consumers to opt for LGDs to reduce jewelry costs.
Limelight Lab Grown Diamonds receives $1 million investment from two top jewellery houses
Limelight Lab Grown Diamonds received a US$1 million strategic investment to expand brand presence in India, driven by positive customer response and significant sales growth. The company aims for global expansion with a focus on scaling operations.
Top jewellery chains shy away from lab-grown diamonds amid lack of consumer interest
Top jewellery chains like Kalyan Jewellers and Tanishq are hesitant to adopt lab-grown diamonds due to low demand. Despite the growing popularity globally, Indian retailers like Joyalukkas remain cautious about integrating LGDs into their stores.
Lab-grown diamond exports decline in December despite price fall
Lab-grown diamond manufacturers say that the export figures are down because of the price correction even though the export volume has increased. Export of polished LGDs for the period April -December FY24 stood at US$ 1024.6 million showing a decline of 22.97% over the comparative figure of US$ 1330.18 million in FY23.
What are lab-grown diamonds, are they worth buying?
Young Indian buyers prefer lab-grown diamonds (LGD) in comparison to their mining counterparts due to the affordability factor. Lab-grown diamonds, also referred to as synthetic or cultured diamonds, are created using cutting-edge technology that mimics the natural diamond-growing process. LGDs have seen price drops of around 50 percent, while the prices of natural diamonds have declined 40 percent.
Lab-made diamonds grow on buyers this Dhanteras-Diwali
Lab-grown diamonds, which emerged as a new category and an alternative to the pricier natural diamonds, became more popular in this year's festive season as prices plunged to less than half year-on-year. Prices of LGD rings with 1 carat solitaire fell to ₹80,000 to ₹1 lakh from ₹2 lakh last year, a fraction of about ₹5 lakh for 1 carat natural diamond ring.
Diamond houses hope to cut through slump in next four months
The trade that suffered a 30% drop in prices of natural stones and dealt with over 50% slide in lab-grown diamond (LGD) prices in the past one year, is in touch with global mining giants like DeBeers for marketing assistance after putting a temporary ban on imports.
Lab-grown diamonds set to catch festive sparkle
Even high-net-worth individuals (HNIs) have taken a shine to lab-grown diamonds, which earlier attracted mainly the 18-35 age group that could not afford natural diamonds, said people in the know. This, they said, has prompted listed players like Senco Gold & Diamonds to enter the market in this financial year to tap into the growing demand. Price remains a key magnet for customers, to be sure, as a carat of lab-grown diamond (LGD) costs ₹60,000-70,000, a fraction of ₹10-11 lakh for a natural diamond. "
The Rolling Stones return with ‘Hackney Diamonds,’ first original album in 18 years
After almost 20 years, The Rolling Stones are poised for a triumphant comeback in the music scene. The legendary rock band, known for their 2005 classic ‘A Bigger Bang,’ is now preparing to unveil their latest masterpiece, "Hackney Diamonds."
Exports of lab-grown diamonds slump 28.57% YoY despite government backing
Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed that export volumes have increased with the US being the largest importer. They attributed the fall in export value to price instability after several new players entered the market.
Emerald Jewel Industry picks up stake in Limelight Lab Grown Diamonds
Emerald Jewel Industry has been one of the world’s largest jewellery manufacturers with manufacturing capacities of 48 tons of gold, 50,000 carats of diamonds, 600 kgs of platinum and 70 tons of silver-based jewellery annually. On the other hand, Limelight Lab Grown Diamonds, is India’s largest D2C luxury brand in CVD diamond studded jewellery.
PNB buries ghost of 2018 to fund lab diamonds
Under the new policy that was finalised a few weeks ago, the public-sector bank would give working capital as well as term loans to manufacturers of lab-grown stones against 100% collateral security and high internal rating of the borrower, said a person familiar with the bank's internal circular.
Budget 2023: Govt to cut import duty on raw material for lab-grown diamonds
"With the depletion in deposits of natural diamonds, the industry is moving towards Lab Grown Diamonds (LGDs) and it holds huge promise. To seize this opportunity, I propose to reduce basic customs duty on seeds used in their manufacture," she said.
Youtuber Emma Chamberlain faces criticism for wearing 'stolen' Maharaja of Patiala's diamond choker to Met Gala
Many claimed Chamberlain's jewellery was worse than Kim's Monroe dress.
Demand for lab-grown diamonds picks up in India
Export of lab-grown diamonds in April-June shot up to Rs 1,918.63 crore from Rs 295.23 crore a year ago. While the US and UK are the major buyers, Australia too has started showing interest in Indian lab-grown diamonds.
Budget impact: Surat is witnessing a sudden rush for setting up laboratory-grown diamond units
“The hike in duty will bring down imports, and manufacturing of diamonds through chemical vapour deposition (CVD) technology will increase. Already, we are seeing a lot of natural diamond players entering the segment as lab-grown diamonds are affordable and becoming popular in India as well as in global markets,” Dinesh Navadiya, regional chairman, Gem & Jewellery Export promotion Council, Gujarat said.
Indian lab-grown diamond gaining traction amid pandemic
Pooja Sheth, managing director and founder of Limelight Lab Grown Diamonds, said India, having the world’s largest millennial population of 410 mn, is also now becoming the most attractive for CVD diamond studded jewellery.
Five best gem-set women's watches at SIHH 2016
It can often feel like women are an afterthought when it comes to mechanical watches.
Worth your time: Watches over Rs. 1 crore to gift your lady-love
From Jaeger-LeCoultre Rendez-Vous Ivy Secret to Omega's watch with white pearls set in diamonds, these watches are a perfect gift for your special lady.
De Beers eyes 51% in Rajesh Exports
A US-based buyout fund and diamond industry giant De Beers are learnt to have evinced interest in jewellery maker and retailer Rajesh Exports for acquiring 51% stake from its promoters.
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