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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

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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.

 

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DiamondBuzz

Susie Dewey Appointed Chief Marketing Officer At Natural Diamond Council

Seasoned Global Marketer Joins To Elevate The Narrative Of Natural Diamonds and Drive Cultural Relevance Worldwide

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The Natural Diamond Council today announces the appointment of Susie Dewey as Chief Marketing Officer (CMO), marking a significant step forward in strengthening its global marketing leadership and cultural influence.

Susie joins the organisation with over 17 years of experience shaping and evolving globally recognised fashion and lifestyle brands. She has held senior leadership roles across internationally renowned companies, including Tapestry, NET-A-PORTER and Michael Kors, following an early career in PR at Topshop and Burberry.

Throughout her career, Susie has led integrated marketing strategies, global partnerships and high-profile brand activations—building a strong track record of driving brand growth, customer acquisition and cultural relevance across international markets.

In her role as CMO, Susie will lead the Natural Diamond Council’s global marketing and communications strategy, further elevating the narrative of natural diamonds and strengthening the organisation’s position at the intersection of culture, creativity and impact.

Susie brings an integrated approach to modern marketing, combining creative and commercial thinking to translate brand vision into insight-led campaigns that deliver measurable business impact. Known for her instinctive understanding of brand building, she has consistently positioned brands at the centre of cultural conversations.

A collaborative and emotionally intelligent leader, Susie is deeply committed to building high-performing teams and fostering environments where talent can thrive.

– Amber Pepper, CEO, National Diamond Council

“Susie’s appointment marks an exciting moment for the Natural Diamond Council. Her ability to connect brand, culture and commercial impact makes her exceptionally well placed to lead our global marketing efforts.”

– Susie Dewey, CMO, National Diamond Council

“I’m incredibly excited to join the Natural Diamond Council at such a pivotal time. The opportunity to shape the global narrative around natural diamonds is one I’m truly passionate about.”

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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.

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