Meet the entrepreneur shaking up diamonds with lab-grown gems
Ricky Vasandani, founder of Solitario, is bringing a fresh spin to the diamond world with his Made-in-India luxury lab-grown brand.
After starting out in his family's natural diamond business and trying his hand at ventures in Spain, he switched gears when the Russia-Ukraine war disrupted global diamond supplies.
Spotting an opportunity, he raised $2 million in just 30 minutes and launched Solitario, handling everything from sales to customer education himself.
Solitario's rapid global growth
Today, Solitario has over 100 points of sale across seven countries—including Dubai, Malaysia, and Spain—and 40 locations in India. International markets now make up a big part of its revenue.
With a team of 250 people behind him, Vasandani is eyeing new expansions this year in places like Egypt and Portugal.