How the Russia–Ukraine war led to the rise of a Made-in-India lab-grown diamond brand

The Russia–Ukraine war disrupted global diamond supply chains and created uncertainty across the jewellery industry. Amid this disruption, entrepreneur Ricky Vasandani identified an opportunity that led to the creation of Solitario, a Made-in-India lab-grown diamond brand that now operates across multiple countries.

Today, Solitario has more than 100 points of sale across seven countries and over 40 touchpoints in India, placing it among the widely distributed lab-grown diamond brands globally.

Roots in the natural diamond trade

Vasandani began his career in his family’s natural diamond business, Satguru Sparkles. In the early years, he sold diamonds door to door, directly engaging with customers. This phase helped him understand consumer behaviour and market demand at the ground level.

War-driven disruption reshapes the market
The Russia–Ukraine conflict affected global supply chains, including the natural diamond trade. With supply uncertainty growing, Vasandani began exploring lab-grown diamonds as an alternative. At the time, the segment was still developing in India, but global interest was increasing.

Instead of waiting for market stability, he focused on building a brand aligned with changing consumer preferences and manufacturing capabilities within India.

To pursue this shift, Vasandani raised $2 million through a single investor call. The funding enabled the launch of Solitario as a lab-grown diamond brand focused on Indian production and international reach.

In the early stages, Vasandani personally handled sales, marketing, operations, and brand development. He also engaged directly with customers at exhibitions and retail events.

Partnership with Vivek Oberai added global visibility
Solitario’s growth accelerated after Vivek Oberoi joined as co-founder. The partnership added global visibility and helped expand the brand’s presence outside India. Together, they scaled distribution across domestic and international markets. Solitario now operates with a team of more than 250 members. The brand continues to expand its retail presence across countries as lab-grown diamonds gain acceptance among consumers.