Solitario Diamonds is moving fast. Starting with 22 stores in India and five overseas, they plan to double their global presence in the next year. Vivek Oberoi, the actor turned businessman, and Ricky Vasandani founded Solitario. They’re changing how people view luxury, sustainability, and diamonds in India’s direct-to-consumer market.
Oberoi’s personal beliefs drove the start of Solitario. He liked jewelry but didn’t like how mined diamonds were linked to conflict and harm to the environment. Lab-grown diamonds, which are certified just like mined diamonds, provided a new answer. They’re moral, sustainable, and more affordable, which fits what today’s buyers in India want: value, honesty, and responsibility when they spend money.
Solitario aimed to be a global brand from the start. With designs from around the world and collections for different regions, they mix international style with Indian production skills. Now, Solitario has over 100 sales points in nine countries and 25 cities, making them one of India’s fastest-growing direct-to-consumer brands. Their approach to selling everywhere, opening new stores, and staying organized is becoming a model for other direct-to-consumer businesses.
Unlike many direct-to-consumer brands funded by venture capital, Solitario chose to grow on its own. Oberoi and Vasandani kept control, focused on making a profit, and made sure their partners earned their share. They’re not just trying to look good; they’re building a business that works in the long run, focusing on profit per product, giving partners first dibs, and grouping stores by region.
Solitario is making diamonds available to more people in India. Natural diamonds are usually for the very rich, but lab-grown diamonds are an option for everyone else. Their 18k Vermeil Collection, which starts at ₹9,000–10,000, combines sterling silver with real 18k gold. It’s certified, appealing, and changes the game. It shows how brands can lead direct-to-consumer trends by redefining luxury while staying moral and offering high-quality items.
Having opened over 20 stores recently, Solitario is growing quickly, attracting attention from investors and experts who follow direct-to-consumer revenue and industry news. They’re also considering expanding into Southeast Asia, potentially partnering to reach 1,400 more stores. They’re ready for an IPO but are waiting for the right moment. Oberoi wants a few more successful quarters to show how much demand and support there is for the brand.
Their plan is simple: grow a lot, then grow even more. They want to go from 100 to 200 to 400 sales points worldwide. With the rise of Indian direct-to-consumer brands, more international buyers wanting moral luxury, and a changing market, Solitario is becoming a key player in the next period of global direct-to-consumer brands.
If the last three years were about proving themselves, the next three are about taking over the world. Solitario Diamonds is not just opening stores; it’s changing what people think about diamonds, value, and luxury.
