This is Solitario’s First Store in Kuala Lumpur, Offering Ethical Brilliance with Cutting-Edge Design in Lab-Grown Diamonds

Kuala Lumpur, Malaysia, 9^th December, 2024 : Solitario, India’s premier luxury lab-grown diamond brand, has announced the grand opening of its first flagship store in Malaysia. Located within the prestigious Seibu shop-in-shop store at the TRX Exchange Mall in Kuala Lumpur, the 1000-square-foot space marks a significant milestone in the brand’s ongoing international expansion.

With the global jewellery market increasingly turning towards sustainable luxury, Solitario has rapidly positioned itself as a leader in the lab-grown diamond sector. The opening of this new store in Kuala Lumpur in quick succession to the brand’s successful operations in Dubai underscore this growing demand for ethically sourced, high-quality diamond, while opening new markets for the brand in the APAC Region.

Facilitating the strategic expansion, Shreya Gems has acquired the franchise rights for Solitario Diamonds in Malaysia. The Malaysian operations will be led by industry veterans Purav Shah and Krunal Mehta, who bring a wealth of expertise in luxury retail and contemporary jewelry design.

On the feat, Ricky Vasandani, CEO, Solitario, said, “We’re excited to introduce our lab-grown diamonds to Malaysia. The market here is exceptionally promising, and we anticipate a 100% increase in growth in the coming years. Our focus will remain on offering timeless designs and an unparalleled shopping experience that blends sophistication with sustainability. Our vision is to redefine luxury in the diamond industry, and Malaysia will play a key role in that journey.”

As consumer preferences shift, there is growing interest in lab-grown diamonds, especially among younger, eco-conscious consumers who prioritize sustainability without sacrificing quality or design. Solitario’s new Kuala Lumpur store is set to meet the demand for elegant, ethically sourced, and innovative jewellery.

Speaking about the franchise, Purav Shah, MD,  Shreya Diamonds emphasized on the role of changing consumer preferences in driving the brand’s success, “There has been a steady shift in audience preferences towards lab-grown diamonds. Consumers today are not just looking for beautiful jewellery; they want pieces that reflect their values. Capturing this, Solitario’s designs embracing global contemporary trends, combining sophistication with sustainability. As the demand for lab-grown diamonds continues to rise, this strengthens our commitment to staying at the forefront of design and luxury.”

Solitario’s new Kuala Lumpur store will feature a curated collection of lab-grown diamond jewellery, from engagement rings to bespoke pieces, all crafted with the brand’s signature quality and craftsmanship. The store’s design promises an immersive, luxurious shopping experience, making every visit as special as the diamonds offered.

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India, 23^rd September 2024: Solitario, the premier destination for luxury lab-grown diamonds continues its rapid expansion with the grand opening of its second luxury store in Bangalore, located at Nexus Mall. The store was officially inaugurated by Bollywood actor and Solitario’s Co-Founder Vivek Oberoi, alongside franchise owner and prominent entrepreneur Akhil Bansal and CEO Ricky Vasandani during Solitario’s Bling Better Tour.

This marks a significant milestone in Solitario’s journey, as the brand continues to redefine the diamond retail market by offering eco-conscious consumers an ethical and sustainable alternative to traditional mined diamonds.

Solitario has made remarkable strides in creating widespread awareness around lab-grown diamonds, positioning them as a new luxury category in India. Sharing his thoughts on this, Co-Founder Vivek Oberoi shared, “Solitario represents the future of luxury—sustainable, ethical, and innovative. With the opening of our second store in Bangalore, we’re not just offering beautiful diamonds, but also a new way to experience luxury that resonates with eco-conscious consumers. We hope to replicate this growth pan-India, truly making Solitario India’s first and final stop for lab-grown diamonds”

“We saw a growing acceptance in the Bangalore consumer for Solitario’s bespoke designs, because it caters to their aspirations, and we readily moved this to our advantage to open a second store in the city,” said Akhil Bansal, Solitario’s franchise owner for Solitario Phoenix and Nexus Stores.

“At Solitario, we are dedicated to crafting a luxury experience that aligns with modern values. With the new store, we are excited offer ethical luxury, while maintaining the highest standards of craftsmanship and design,” he added.

Solitario specializes in lab-grown diamonds, redefining the retail and jewellery industry by emphasizing sustainability and ethical practices in diamond production. ​Under Bansal’s leadership, Solitario aims to capture a significant market presence by appealing to the growing consumer demand for eco-conscious luxury products.​

Interesting, the Solitario journey began with a single store in Pune last year. Since then, the company has emerged as the world’s fastest-growing player in the lab-grown diamond sector, growing at 25% YOY as opposed to the industry’s 18%.

Today, Solitario has a presence in over seven countries and 21 cities, bringing sustainable luxury to discerning customers around the globe. The exclusive “Bling Better India Tour,” which recently showcased Solitario’s commitment to innovation and responsible luxury, has further solidified its reputation as a trailblazer in the diamond industry.

With its latest store opening at Nexus Mall, Solitario continues to provide discerning Bangaloreans with unparalleled craftsmanship, bespoke designs, and a luxurious shopping experience that aligns with their ethical values. This expansion reinforces the brand’s mission to lead the global conversation on sustainability in luxury, while offering customers timeless pieces that complement their modern lifestyle.

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This event marks a significant moment in Solitario’s ongoing efforts to redefine the retail and jewellery industry by emphasizing sustainability and ethical practices in diamond production. Held in the presence of Bangalore franchise owners Akhil and Shubha Bansal, the event disucssions highlighted the increasing awareness and acceptance of lab-grown diamonds as a desirable alternative to traditional mined diamonds, particularly among eco-conscious consumers.

Continuing its expansion in Bangalore, Solitario recently opened its latest store at Nexus ShantiNiketan. As the festive season approaches, Solitario sets its sights on capturing a significant market presence with its stunning lab-grown diamond jewelry, aligning with the growing demand for timeless and sustainable fashion.

Vivek Oberoi’s Bling Better India Tour is set to continue across multiple cities, bringing Solitario’s vision of ethical and clean luxury to the forefront of the Indian diamond market.

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