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Gudi Padwa jewellery sales flat; demand for gold coins surges

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 Gold prices have surged to nearly Rs 90,000 per 10 grams (excluding GST) in the physical market, leading to a noticeable decline in jewellery sales in Maharashtra/Goa during Gudi Padwa, a festival traditionally associated with gold purchases. Despite this, demand for gold coins as an investment remains strong, as consumers anticipate further price appreciation. Mumbai’s largest gold hub has observed a shift in consumer behavior toward gold coins and bars. Traders said  that buyers are purchasing gold coins with the expectation of future price increases.

As of Gudi Padwa, gold prices have reached nearly Rs 90,000 per 10 grams, making gold jewellery significantly more expensive. Higher prices have deterred traditional jewellery buyers, shifting demand towards investment-oriented purchases, such as gold coins. Industry experts anticipate that gold prices may continue to rise, reinforcing gold’s status as a long-term store of value.

Equal demand was observed between gold jewellery and investment-grade coins. Retailers introduced discounts and exchange offers, but high prices still impacted sales volume.Tier-2 cities experienced similar trends, with more gold coin buyers than jewellery shoppers. Lightweight jewellery, silver accessories, and gold-plated ornaments saw higher traction compared to heavy gold jewellery.

Global trade tensions and potential U.S. Fed rate cuts are boosting gold’s attractiveness as an investment. Investors are shifting towards gold due to its historical role as a hedge against inflation and economic instability The Indian Rupee’s performance against the U.S. Dollar is also a contributing factor to local gold price fluctuations.

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Limelight Lab Grown Diamonds Raises INR 275 Crore To Strengthen Vertical Integration and Accelerate Retail Expansion Across India

The INR 275 Crore Funding Will Bolster Manufacturing, Innovation, and Retail Expansion As Limelight Targets 200 Stores Nationwide By 2027.

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Limelight Diamonds, India’s leading lab grown diamond jewellery brand, has successfully completed an INR 275 crore strategic funding round led by the Company’s core promoters, the Bhathwari Group, along with participation from key strategic partners from the jewellery industry. The round also saw strong participation from several of the Company’s franchise partners, reinforcing their confidence in Limelight’s long-term vision, business fundamentals, and growth trajectory.

The capital has been raised through a combination of equity and cash consideration and will be utilised towards strengthening the Company’s vertical integration capabilities, expanding manufacturing infrastructure, enhancing design and innovation capabilities, and accelerating retail expansion across India.

At a time when the national conversation is increasingly focused on strengthening domestic industries and reducing dependency on imports under the Hon’ble Prime Minister’s “Make in India” vision, Limelight Diamonds believes the lab grown diamond sector is uniquely positioned to become a globally competitive Indian luxury category. Lab grown diamonds represent a modern, technology-led manufacturing opportunity for India. With strong domestic manufacturing capabilities, skilled craftsmanship, and growing consumer demand, the category aligns closely with India’s ambition to emerge as a global manufacturing and export hub.

Commenting on the milestone, Pooja Madhavan, Founder & MD, said:

“This funding round is a strong validation of Limelight’s vision and the growing potential of the lab grown diamond industry in India. At a time when Hon’ble Prime Minister’s ‘Make in India’ vision is driving focus towards domestic manufacturing and global competitiveness, we believe lab grown diamonds present a significant opportunity for India to lead a new-age luxury category globally. This investment will help us strengthen Indian manufacturing, accelerate retail expansion, and build a world-class brand from India for the world.”

Limelight Diamonds also confirmed that its retail expansion plans remain firmly on track, with aggressive growth planned across metro cities, Tier I, and emerging Tier II markets. The Company aims to significantly increase its national retail footprint through a combination of company-owned and franchise-operated stores, with a target of adding 100 stores in 2026 and scaling up to 200 stores by 2027.

The funding comes at a time when consumer interest in lab grown diamonds is witnessing rapid momentum globally, driven by evolving preferences, value-conscious luxury consumption, sustainability considerations, and increasing acceptance among younger consumers.

With a strong retail network, vertically integrated operations, and growing investor confidence, Limelight Diamonds is positioning itself at the forefront of India’s next-generation jewellery revolution.

BSC Advisors served as the financial advisor to Limelight Lab Grown Diamonds for this strategic fund raise.

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