Hyderabad: Film star and producer Lakshmi Manchu inaugurated the Limelight Lab Grown Diamonds store in Gachibowli, marking the company’s second store in the city and its sixteenth across India.
The inauguration comes at a time when the market for lab-grown diamonds is experiencing substantial growth, with an increase of 70 to 80% in demand.
During the event, Nirav Bhatt, Director of Limelight Lab Grown CVD Diamonds, announced plans to open 15 new stores across India before December, emphasizing the rising popularity of lab-grown diamonds, particularly among millennials. “The market size of lab-grown diamonds is currently about 20% that of mined diamonds, approximately $20 billion,” he noted. Bhatt highlighted Hyderabad’s status as a key market, stating, “Hyderabad is the gateway to the South Indian market, and we have received an encouraging response. We will be opening five branches in Chennai and Bangalore together due to overwhelming customer feedback.”
Expressing her admiration for the brand, Lakshmi Manchu stated, “I am simply in awe of the store and the concept of lab-grown diamonds. Gold attracts energy, especially when visiting temples; women prefer to wear gold as it is part of our culture.” She further elaborated on the benefits of lab-grown diamonds, saying they are environmentally friendly and affordable. “Mined diamonds are for the privileged few, but lab-grown diamonds are for everybody,” she explained. Manchu emphasized that lab-grown diamonds are real diamonds created in a lab using sophisticated growth methods, affirming their quality and appeal.
“I don’t care whether they are mined or lab-grown as long as they look good when I wear them,” she remarked, adding that these diamonds are made in India and that Indian women should take pride in wearing them. Lakshmi praised the brand’s solitaire range for its modern design and elegant craftsmanship, congratulating the Limelight team for solidifying their presence in Hyderabad with this innovative concept. “These are guilt-free diamonds. They are ethically made,” she stated.
Nirav Bhatt compared lab-grown diamonds to naturally born diamonds, saying, “There is no difference between a naturally born child and an IVF baby.” Pooja Sheth Madhavan, Founder and Managing Director of Limelight Diamonds, expressed her excitement, stating, “Hyderabad has been extremely welcoming to Limelight and our products, and we have received a fabulous response from customers.”
Regional partner of Limelight, Mr. Nipun Goyal of AN3 Jewels, remarked on the increasing demand for lab-grown diamonds, noting that the growing awareness and acceptance of these alternatives is disrupting the traditional gem and jewelry industry. With the recent entry of the Tata Group into the lab-grown diamond market, consumer confidence in these sustainable options has significantly increased.
