Solitario Enters Maldives by Partnering with Essence Retail to Redefine Luxury

Solitario partners with Essence Retail to bring sustainable lab-grown diamond collections to the Maldives' most exclusive luxury resorts.

Solitario, a sustainable luxury jewelry brand, has expanded internationally by entering the Maldives. The brand will debut its lab-grown diamond collections across the island nation’s premium retail network in partnership with Essence Retail, the Maldives’ largest retail chain. Solitario’s founder, Ricky Vasandani, along with Gautam Budhrani, Strategy and Growth Partner at Anveya Jewels, and Sanjay Singh, founder of Essence Retail, introduced the brand at Hulhule Island Resort (HIH).

Additionally, Solitario enters the Maldivian market with its philosophy of producing "diamonds that honor and complement the earth and the ocean." The brand’s lab-grown diamonds embody a commitment to sustainable luxury, aligning with the Maldives’ pristine environment. In the initial rollout, Solitario will establish a significant presence through Essence Retail’s network in several of the Maldives’ most acclaimed resorts and islands. The launch at Hulhule Island Resort (HIH), and other luxury destinations such as Taj Exotica, Siru Fen Fushi Private Island, Ozen Reserve Bolifushi, and JW Marriott, will mark Solitario’s introduction.

Moreover, Solitario would launch a flagship boutique at Marina Crossroads to mark the end of the first phase. This is a 1200 sq. ft. duplex space that is positioned as the centerpiece of the brand’s Maldivian presence. Meanwhile, the brand has sought to build on this momentum by outlining its Phase 2 expansion, which would further strengthen its foothold in the Indian Ocean luxury market. According to Ricky Vasandani, “Our expansion into the Maldives is more than just a business milestone; it is a celebration of nature.” CIO Bulletin views Solitario’s expansion as a carefully crafted business strategy that would enrich the Maldives’ luxury retail landscape with a product offering aligned with the country’s environmental consciousness.