National News
Madhuri Dixit inaugurates 20000* sqft jewellery shopping destination for PNG Jewellers at Laxmi Road, Pune
Retail expansion in jewellery aligns with the consumer response in any given market. Phenomenal popularity and product demand call for unprecedented expansion, and one such instance was exhibited by PN Gadgil Jewellers, widely known for its commitment towards excellence across a legacy of 193 years of business and counting, with the launch of a new store besides renovation of its flagship showroom, both at Laxmi Road in Pune, on 23 March, 2025.
Catering to rising demand across all categories of gold, diamond, platinum, and colour gemstone jewellery in the Pune market, the two stores were jointly inaugurated by Bollywood diva Madhuri Dixit in the presence of Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers; Mr. Parag Gadgil, and members of the PNG Jewellers family. The combined area of the two large-format stores now reach a staggering 20,000 sq. ft.*
Dr. Saurabh Gadgil, Chairman and Managing director of PNG Jewellers said, “Pune holds a special place in our hearts, as it is where our flagship store continues to stand as an example to our heritage and trust. Now, the brand has a total of 53 stores across the world. As we strive to strengthen our retail network further, this expansion brings us closer to our patrons, ensuring they have convenient access to the finest jewellery, steeped in tradition and craftsmanship. We look forward to serving the people of Pune with the same commitment to quality, craftsmanship, and trust.”
Ushering in a completely modern in-store experience while respecting Maharashtrian tradition, the renovated flagship showroom has been redesigned akin to heritage Wada courtyard houses intrinsic to the state. Exclusively retailing in gold jewellery of Kalkatti, temple, antique, and kundan designs, the flagship showroom specialises in bridal jewellery along with a dedicated wedding lounge replete with private make-up stations to give the brides-to-be the attention they deserve. The new 2-storey showroom, on the other hand, stands tall as a hub of the studded categories including diamond, platinum, uncut, polki, and precious colour gemstone jewellery. The expansion has now diversified the product range of PNG Jewellers by an impressive 30-40%, thus giving buyers across all categories better options for an immersive and satisfying shopping experience.
Commenting on the continuing legacy of the brand, ambassador and Bollywood superstar Madhuri Dixit said, “It is a privilege to be a part of this historic event with PNG Jewellers, a company known for its excellence and tradition. Their commitment to preserving tradition while embracing modern designs truly sets PNG Jewellers apart. PNG has always stood for trust, tradition, and timeless craftsmanship.”
The new store of PNG Jewellers is located 500 meters away from their flagship store, and has rolled out exclusive offers such as 0% deduction on old gold exchange, up to 40% off on gold jewellery-making charges, and up to 100% off on diamond jewellery-making charges respectively to celebrate the grand inauguration.
National News
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.
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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