Overview
Firefly Diamonds, a modern lab‑grown diamond jewellery brand built on a 60‑year family legacy, announced that it has opened its 10th store in India, reinforcing its status as one of the country’s fastest‑growing players in the lab‑grown diamond segment.
Expansion Milestone
The new store brings the brand’s footprint to five major cities—Mumbai, Pune, Delhi, Bengaluru and Hyderabad—and serves a community of more than 2,000 customers celebrating engagements, weddings, anniversaries, birthdays and everyday milestones. The milestone follows the recent launch of one of India’s largest four‑storey lab‑grown diamond jewellery stores in Mumbai. Firefly’s stated ambition is to operate 25 stores across India by the end of 2026 and to reach 60 stores by the end of 2027.
Product & Production
Firefly’s lab‑grown diamonds are chemically, physically and optically identical to mined diamonds while offering superior brilliance, clarity and colour. They are created using advanced technology powered by renewable energy and are certified by the same globally recognised laboratories that certify natural diamonds. Each piece undergoes a meticulous 20‑step production process that takes over 100 hours, with every diamond set entirely by hand and subjected to a rigorous 100‑step quality‑assurance protocol; only the top 2 % of diamonds are selected for inclusion in the collection.
Customer Services
Through the Firefly Studio platform, customers can explore more than 50,000 customised ring combinations across diamonds, settings and styles. The Firefly Reserve service offers bespoke jewellery creation that transforms personal stories, inspirations and heirlooms into one‑of‑a‑kind pieces. The Old Gold Exchange programme allows customers to exchange existing gold jewellery for Firefly store credit and added value, facilitating upgrades to lab‑grown diamond pieces.
Funding & Growth Plan
In 2025, Firefly secured USD 3 million in funding led by WestBridge Capital, a venture‑capital firm with over USD 8 billion in assets under management. The capital will support the rollout of the targeted 25‑store network in 2026 and the subsequent expansion to 60 stores in 2027. The company is also seeking franchise partners who share its vision of delivering premium lab‑grown diamond jewellery nationwide.
Collections
The brand’s portfolio includes the “All Ways You” collection featuring transformable jewellery, the “Maxim” collection aimed at the growing men’s jewellery segment, and the “Eden” collection inspired by gardens, vines and light‑catching leaves, alongside an expanding range of versatile, self‑expressive pieces.
Sustainability & Social Initiatives
Firefly’s diamonds are produced using renewable energy, positioning the brand as an environmentally responsible alternative to traditional mining. For every purchase, the company plants a tree in the customer’s name; a digital tracking platform enables customers to monitor the tree’s location, growth, carbon‑offset contribution and oxygen generation. The co‑founders also established CADIndia, a non‑profit that provides affordable training in computer‑aided design software for jewellery design and manufacturing, having trained hundreds of students who have entered the industry.
Leadership Quote
"For three generations, our family has been in the diamond business. What has changed is the customer," said Aayush Bhansali, Co‑founder, emphasizing the shift toward exceptional craftsmanship, meaningful design and a smarter way to own diamonds.