DiamondBuzz
Solitario Secures $3.6 Million in Pre-IPO Funding to Accelerate Growth
The lab-grown diamond brand plans to expand its retail presence, enhance branding, and diversify its product offerings with the new capital
Solitario, a lab-grown diamond jewelry brand co-founded by Ricky Vasandani and actor Vivek Oberoi, has raised $3.6 million in pre-IPO funding, valuing the company at approximately $18.3 million. The investment round saw participation from high-profile investors, including Neeraj Gupta, Seema Manish Nuwal, and several ultra-high-net-worth individuals.
The funds will be used to expand Solitario’s retail network, both in India and internationally, as well as to strengthen its branding, marketing initiatives, and product portfolio. The company also plans to enhance its manufacturing capabilities to keep up with growing demand.
Founded in 2023, Solitario specializes in sustainable and eco-conscious diamond jewelry, offering a range of products including necklaces, rings, earrings, bracelets, and pendants. The company has quickly established a presence in the market, reporting revenue growth from Rs 24.3 crore in FY 2023 to Rs 52 crore in FY 2024.
Solitario currently operates 18 stores across 10 major cities in India, along with 38 outlets in international locations such as Dubai, Malaysia, and Spain. The company runs a 30,000 sq. ft. manufacturing facility in Surat, which employs over 300 people.
DiamondBuzz
De Beers Reimagines The Bridal Market With “Desert Diamonds.”
Brown and Yellow Diamonds Are Being Repositioned As Rare, Emotionally Resonant Alternatives To Traditional Colorless Stones
On April 13, 2026, De Beers officially expanded its “Desert Diamonds” concept into the bridal sector, introducing a sophisticated palette of lighter, warmer-toned diamonds. This strategic move follows the successful October 2025 launch of the Ombre range, aiming to redefine luxury for modern couples who prioritize authenticity and individuality. The Desert Diamonds bridal launch in the US offers solitaire rings, three-stone rings, diamond bands, and eternity-style pieces, with prices undisclosed.
Strategic Shift & Product Offerings
Historically undervalued, brown and yellow diamonds are being repositioned as rare, emotionally resonant alternatives to traditional colorless stones. The new bridal collection features:
- A Subtle Palette: Soft sand, warm white, and gentle champagne hues.
- Classic Formats: Solitaires, three-stone rings, and eternity bands.
- Designer Collaborations: Over 60 designers, including Kindred Lubeck, have contributed to the line to ensure a diverse, accessible aesthetic.
Cultural & Marketing Impact
The collection leverages significant cultural momentum, bolstered by celebrity endorsements, most notably Bad Bunny, who wore a bespoke Desert Diamond during the 2026 Super Bowl. De Beers is utilizing an integrated marketing campaign to frame these stones as symbols of a couple’s unique journey. By treating “Desert Diamonds” as an industry-wide program, De Beers seeks to reignite global desire for natural diamonds through personal storytelling and modern rarity.
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.