Solitario to expand in new Indian cities and global destinations this year
Lab grown jewellery brand Solitario plans to expand into new Indian cities including Delhi, Hyderabad, Indore, and Kolkata this year and enter new global markets Portugal and Egypt while remaining committed to offline only retail.
A Solitario store in Malaysia – Rashid Khan- Facebook
Solitario operates entirely through offline retail, with flagship stores, shop-in-shop formats, and kiosks in high-footfall malls in over 22 Indian cities and eight countries. “We prioritise malls over high streets as they attract high-intent shoppers and offer a controlled environment for personalised consultations,” Solitario’s co-founder and CEO Ricky Vasandani told India Retailing in an interview. Solitario’s stores are positioned alongside global brands such as Tiffany, Dior, and Bulgari.
The brand, which initially launched with 750 stock-keeping units, now offers over 3,000 SKUs, making it one of India’s largest lab-grown diamond collections. Classic solitaire rings remain its best-selling category, with demand growing for larger stones and customised diamonds. Solitario has also recently expanded into accessories, including diamond-studded luxury watches in partnership with Just in Time.
The brand’s turnover grew from Rs 22 crore in its first year to Rs 52 crore in its second, reaching Rs 100 crore this year. Solitario aims to double its revenue to Rs 200 crore in the 2026 financial year, capitalising on India’s fast-growing lab-grown diamond market, which is expected to reach $8.31 billion by 2032.
Solitario’s current marketing strategy focuses on brand awareness and consumer education, with an annual investment of 5% to 8% of its revenue. Recently, the brand partnered with Gujarat Giants in the Women’s Premier League, becoming the first lab-grown diamond brand to collaborate with the tournament.
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