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IGI reports a 17 % increase in revenue for 2024; 29 % growth in profit

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The International Gemological Institute (IGI), a leading grading company in the lab-grown diamond market, has reported record financial performance for the calendar year (CY) 2024. The company achieved a 17% increase in revenue and a remarkable 29% growth in profit, driven largely by its dominant 65% share of the global lab-grown diamond grading market.

  • Revenue: $120.8 million (INR 10.53 billion), marking a 17% increase compared to the previous year.
  • Profit After Tax: $49 million (INR 4.27 billion), reflecting a substantial 29% year-over-year growth.
  • Market Share: IGI continues to dominate the lab-grown diamond grading market with a 65% global share.

IGI’s strong financial performance has been supported by its market leadership and strategic business decisions. The company went public in December 2023 with an initial public offering (IPO) that valued IGI at $3.5 billion. This marked a significant valuation jump from its $570 million acquisition price when Blackstone, the world’s largest alternative asset manager, took ownership in May 2023.

Eashwar Iyer, IGI’s Global Chief Financial Officer (CFO), emphasized the company’s operational strength and strategic execution, attributing the record revenue and profit growth to IGI’s ability to capitalize on market opportunities and strengthen its competitive position.

IGI’s robust financial performance underscores the expanding demand for lab-grown diamonds and the growing importance of reliable certification in the industry. The company’s continued leadership in this segment reinforces its credibility and positions it for sustained growth in the future.

IGI’s record-breaking financial results in 2024 highlight its dominant market position, successful strategic initiatives, and ability to drive profitability. With a strong financial foundation and continued expansion, IGI remains at the forefront of the lab-grown diamond grading industry, setting benchmarks for excellence and growth.

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BrandBuzz

De Beers Group Rewrites the Diamond Story with ‘Intention Pendants’ for the Woman Who Chooses Herself

Where natural diamonds become expressions of intent for women shaping their own path

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De Beers Group taps into the modern ritual of intention-setting with the launch of ‘The Intention Pendant’ collection, where natural diamonds become intimate expressions of purpose and personal power. Designed for the woman who marks her milestones quietly yet deliberately, the high-glamour collection reflects a new language of self-gifting rooted in meaning, emotion, and self-belief. The launch speaks to a wider cultural shift, one where success is defined internally and luxury becomes a deeply personal signature.

For Gen Z and millennials, practices like manifestation, vision boarding, and ‘scripting dreams’ are no longer trends; they are core lifestyle rituals. Intention-setting has become a daily act of self-empowerment. De Beers Group captures this sentiment through a personal campaign narrative that features a young woman crafting a vision board and reconnecting with her inner clarity, with the pendant serving as her constant companion through quiet moments and self-discovery.

“Women today are choosing to celebrate themselves through everyday intentions. The Intention Pendants draw from the extraordinary legacy of natural diamonds while honouring this cultural shift,” said Toranj Mehta, Vice President of Marketing, De Beers Group India“Rooted in the extraordinary legacy of natural diamonds, this collection reflects a shift toward jewellery as a personal marker of growth. Each piece serves as a quiet reminder a woman wears for herself, honouring her inner resolve and the promises she makes to her future.”

The launch is supported by a comprehensive 360° campaign designed to inspire and engage across print, television, radio, cinema, outdoor, digital, and social media outreach. Leading Bollywood and sports icons including Tamannaah Bhatia, Athiya Shetty and Sania Mirza have created and shared their personal vision boards while wearing the pendants, amplifying authenticity and aspiration.

Each Intention Pendant features a natural diamond, formed over billions of years and shaped patiently by nature, carrying a sense of timeless continuity into the present. Refined through the forces of time, it stands as a lasting symbol of resilience and brilliance. Inspired by celestial forms and personal energy, the design brings this journey from nature’s heart to hers into a modern, wearable expression. Worn close to the heart, the pendant becomes a personal touchstone, subtly manifesting her best life while reflecting her intentions, inner strength, and the journey she continues to shape.

The Intention Pendant collection builds on De Beers’ global focus on self-gifting as an evolving expression of self-love. Across markets, natural diamonds are increasingly chosen to mark independent decisions, personal milestones, and moments of inner transformation, signalling a move beyond traditional gifting toward jewellery that reflects individuality and purpose.

Launching ahead of the year-end period of reflection, the collection aligns naturally with a season devoted to renewal, clarity, and intention. The Intention Pendant emerges not as a statement piece, but as a personal symbol, one that accompanies a woman quietly as she defines success on her own terms.

‘The Intention Pendant Collection’, serves as a reminder of one’s potential through the timeless beauty of a natural diamond and personal expression. De Beers invites you to connect with cosmic energy, flowing from nature’s core to your own.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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