LAB GROWN CVD DIAMONDS GET INDIA & GLOBAL MARKET ACCESS AS EMERALD & LIMELIGHT ANNOUNCE PARTNERSHIP
Emerald and Limelight are pleased to announce their partnership to offer the finest quality of pure CVD diamond studded jewellery from India to the world
Lab grown diamonds are gaining more and more popularity across the globe with each passing day. While lab-grown diamonds are 100% real and more affordable option, the fact that these diamonds best align with the values of today’s consumer is what is setting them a league apart. Those opting for lab-grown diamonds are also making sure that they not only pass down a precious heirloom to future generations but also a planet that is ecologically diverse and lively.
The acceptance of lab grown diamonds is now reflecting in the ever-increasing lab grown sales in USA and China. Data suggests that close to 70% of retailers in the US already showcase and/or stock lab grown diamonds. Interestingly, lab grown diamonds have been able to carve out a market of their own and is allowing every retailer to provide LGD jewellery as a new product offering.
India too is not behind and catching pace swiftly with Indian millennials also beginning to embrace lab grown diamonds. At a millennial population of over 40 Crore, the highest in the world, and their increasing support towards sustainable & eco-friendly products, boost in the domestic demand for lab grown diamond studded jewellery is inevitable. Moreover, thanks to the CVD (Carbon Vapor Deposition) technology that is indigenously developed and completely made in India – India is now emerging as a global hub of not just manufacturing but also DIAMOND GROWING & PRODUCTION.
Emerald Group has always been at the forefront of introducing new age technology advancements and lab grown diamonds are certainly the most promising innovation in the jewellery industry.
“We have entered into an agreement with Limelight Lab Grown Diamonds to manufacture and distribute best finish lab grown CVD diamond jewellery. With the strength of our manufacturing, finishing and market distribution together coupled 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.” says Mr. K Srinivasan, Chairman and MD, Emerald Jewel Industry India Ltd.
“Consumer preferences and trends are changing globally. The young set of consumers are looking for affordable and sustainable options and in my view lab grown diamonds fits this proposition perfectly. I strongly believe that whilst lab grown diamonds have a promising future, they certainly will co-exist with natural diamonds and provide an incremental business opportunity to all. I am extremely excited about this venture and looking forward to making this a success” says Dhiaan Srinivasan, Director, Emerald Jewel Industry India Ltd.
Limelight Lab Grown Diamonds is backed by the world’s largest CVD diamond grower – the Bhathwari Group. The Group boasts of an annual production of 1.2 million carats, over 80% of India’s total production. This shall enable the Venture to provide abundant quantity and consistent supply of pure CVD diamonds.
“Awareness on lab grown diamonds is spreading fast in India. The unique & independent personality of lab grown diamonds as a sustainable & environmentally friendly yet affordable gemstone is extremely well accepted in the millennial consumers and is increasingly reflecting in the sales of lab grown diamond studded jewellery across India. With this joint venture, our aim is to introduce unique never seen before designs in the best finish and further strengthen the penetration of LGD jewellery in India as well as globally ” says Mrs. Pooja Sheth Madhavan, MD & Founder of Limelight Lab Grown Diamonds.
Both companies are very excited and optimistic as this partnership will allow them to drive far more impact across the globe by making CVD diamond studded jewellery available. This alliance, will prove to be a game changer in the way the jewellery industry perceives the needs of its customers and how it caters to the market. With this collaboration, both firms are poised to exceed all expectations.