DiamondBuzz
Akoirah by Augmont Taps into Festive Shift as Lab-Grown Diamonds Gain Popularity
Changing buyer preferences and gold price trends spark growing demand for sustainable, design-led jewellery this Akshaya Tritiya.
Festive jewellery shopping is evolving, and Akoirah by Augmont is at the forefront of this shift. Based in Pune, the lab-grown diamond brand is seeing increased interest this Akshaya Tritiya, particularly among younger buyers who are moving away from conventional gold in favour of affordable, stylish, and sustainable choices.

Namita Kothari, Founder of Akoirah, highlighted this changing trend: “While gold remains a staple for traditional buyers, lab-grown diamond jewellery is gaining strong traction — especially among those seeking modern, meaningful designs.” The rise in gold prices has also influenced purchasing behaviour, with many consumers choosing to diversify their budgets between smaller gold purchases and diamond jewellery that offers better design and value.
Responding to this shift, Akoirah has launched a festive offer, giving customers a chance to purchase up to 10 grams of gold at the lowest price of the month with every jewellery buy. This move aims to support customers amidst price fluctuations, while allowing them to celebrate the auspicious occasion in a meaningful way.
Known for blending sleek aesthetics with ethical practices, Akoirah’s offerings resonate with a new generation of conscious buyers. As Akshaya Tritiya continues to be a key moment for jewellery purchases, the brand is redefining how customers engage with tradition — through pieces that honour values and style alike.
DiamondBuzz
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict
Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.
Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.
The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.
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