Emerald Jewel Industry has picked up an equity stake in Limelight Lab Grown Diamonds with the objective of establishing Limelight as a vertically integrated brand and jointly manufacturing, selling and distributing lab-grown CVD diamond studded jewellery in India and international markets. The terms of the deal remain undisclosed.
Emerald Jewel Industry has been one of the world’s largest jewellery manufacturers with manufacturing capacities of 48 tons of gold, 50,000 carats of diamonds, 600 kgs of platinum and 70 tons of silver-based jewellery annually. On the other hand, Limelight Lab Grown Diamonds, is India’s largest D2C luxury brand in CVD diamond studded jewellery and is backed by the world’s leading producer of lab-grown CVD diamonds – the Bhathwari Group that boasts of the annual production of 5 million carats of CVD rough diamonds annually, nearly 30% of India’s overall CVD diamond production.
This alliance shall enable Limelight to leverage Emerald’s 38 years of experience in jewellery designing & manufacturing alongside a dedicated manufacturing setup, access to a wide range of ready-design banks of jewellery and access to their network of 300+ distributors and 20,000+ retailers. This coupled with Limelight’s own strength of providing a consistent supply and purest quality Type IIa diamonds will allow Limelight to offer a huge range of the best finish jewellery from India to the world.
“The purpose is to manufacture and distribute the best finish lab-grown CVD diamond jewellery. 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,” says Mr. K Srinivasan, Chairman and MD, Emerald Jewel Industry India Ltd.
“Awareness of 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 by 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 brand’s penetration of LGD jewellery in India as well as globally” says Mrs. Pooja Sheth Madhavan, MD & Founder of Limelight Lab Grown Diamonds.