The story of Solitario, a globally recognized lab-grown diamond brand, is a classic Indian entrepreneurial tale of grit, vision, and seizing the right moment. Its founder, Ricky Vasandani, did not start in a plush office but on the ground, learning the diamond trade from the grassroots.
Humble Beginnings and a Strategic Pivot
Ricky Vasandani's journey into the world of gems began with his family's natural diamond business, Satguru Sparkles. Here, he mastered the fundamentals by selling natural diamonds door-to-door, honing an instinctive understanding of consumer needs and market dynamics. This hands-on experience became the bedrock of his future venture.
The turning point arrived with the Russia-Ukraine war, which caused significant disruptions to global diamond supply chains. While many saw a crisis, Ricky identified a rare window of opportunity. He shifted his focus to the emerging sector of lab-grown diamonds, a category still in its infancy in India at the time. Believing firmly in the future of conscious and sustainable luxury, he moved decisively.
The Birth and Meteoric Rise of Solitario
With a clear vision to create a proudly Made-in-India lab-grown diamond brand, Ricky Vasandani needed capital. Demonstrating remarkable conviction, he secured USD 2 million in funding through a single phone call that lasted just 30 minutes. This marked the official foundation of Solitario.
In the early days, Ricky was the heart and soul of the operation. He personally managed sales, marketing, operations, and brand building. He stood at exhibitions, engaged directly with customers, and meticulously shaped every aspect of the company. A significant acceleration in growth came when he partnered with actor and right co-founder Vivek Oberoi. Vivek's global influence and shared belief in sustainable luxury propelled Solitario onto a faster trajectory.
A Global Force in Conscious Luxury
From a bold idea, the duo transformed Solitario into an international success story. Today, the brand's presence is formidable. It boasts over 100 points of sale across seven countries and has more than 40 retail touchpoints within India. This makes it one of the most widely distributed lab-grown diamond brands globally.
Supported by a dedicated team of over 250 members, Ricky Vasandani continues to lead from the front, positioning himself at the centre of the lab-grown diamond revolution. His mission involves pushing industry boundaries, expanding into new markets, and actively shaping the future of sustainable jewellery.
What began as a solitary salesman knocking on doors has evolved into a powerful movement that is redefining the very meaning of modern, ethical luxury for consumers around the world.
