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May 25, 2023Emerald Group acquires minority stake in Limelight Lab Grown Diamonds
Apr 29, 2023Jewellery manufacturing business Emerald Jewel Industry India Limited has picked up a minority stake in lab grown diamond business Limelight Lab Grown Diamonds. The strategic alliance is designed to facilitate the distribution of lab-grown CVD diamond studded jewellery to international markets.
"The purpose is to manufacture and distribute the best finish lab-grown CVD diamond jewellery," said Emerald Jewel Industry India Limited's chairman and managing director K. Srinivasan, the Gem and Jewellery Export Promotion Council reported on its website. "With the strength of our manufacturing, finishing, and market distribution together with Limelight's strength of huge CVD diamond production, I am confident that our customers will be able to make the most of this as a new and incremental business opportunity." Limelight Lab Grown Diamonds is a direct-to-consumer luxury brand which specialises in CVD diamond studded jewellery, according to its website. The business contributes close to 30% of India's overall CVD diamond production and specialises in Type IIa diamonds.
"Awareness on lab-grown diamonds is spreading fast in India," said Limelight Lab Grown Diamonds’ founder and managing director Pooja Sheth Madhavan. "With this joint venture, our aim is to introduce unique never-seen-before designs of the best quality and further strengthen the brand's presence in the LGD jewellery market in India and globally."
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