DiamondBuzz
JA, key industry persons met Washington officials on concerns about Russian sanctions
Jewelers of America (JA) and key industry figures met with lawmakers in Washington, DC, last week to express their concerns about plans for sanctions on Russian diamonds.
Jewelers of America (JA) and key industry figures met with lawmakers in Washington, DC, last week to express their concerns about plans for sanctions on Russian diamonds.
“JA has been working tirelessly behind the scenes, and this visit to Washington, DC, was a critical step to ensure we minimize unnecessary disruptions to the US diamond industry,” JA president and CEO David Bonaparte said in a statement Tuesday. “We are very concerned about the additional requirements that could take effect on September 1.”
These would include adopting a European Union proposal forcing all 0.50-carat and larger diamonds destined for Group of Seven (G7) markets to pass through a single import channel in Belgium, Bonaparte noted.
JA supports efforts to keep diamonds of Russian origin out of the supply chain, including the more stringent rules that went into effect on March 1, it said. These require importers to self-certify that diamonds of 1 carat or larger are not Russian, notwithstanding their having been manufactured in a third country.
However, mandating physical verification and certification in Belgium for all rough diamonds “would cause maximum damage to the global diamond and jewelry supply chain, while having minimal effect on Russia’s diamond revenues,” JA argued in the statement.
Joining Bonaparte on the visit were Jon Bridge, chairman and counsel emeritus at Ben Bridge Jeweler; Dave Meleski, president and CEO of Richline Group; Matthew Swibel, vice president for sustainability and social impact at Signet Jewelers; and Ronnie VanderLinden, immediate past president of the Diamond Manufacturers Importers Association of America (DMIA) and president of the International Diamond
DiamondBuzz
Dholakia Lab Grown Diamond Secures Over Rs 800 Crore Funding
Funding Earmarked For High-Impact Vertical Scaling and Infrastructural Fortification
Dholakia Lab Grown Diamond (DLGD) has successfully executed a definitive investment agreement, securing over Rs 800 crore in a premier growth-stage funding round. This transaction represents one of the most significant capital injections within India’s Lab-Grown Diamond (LGD) ecosystem. The consortium was led by Abakkus PE, with strategic participation from ICICI Ventures IAF5, Amal Parikh, and a syndicate of high-profile institutional investors.
The newly mobilized liquidity is earmarked for high-impact vertical scaling and infrastructural fortification, specifically:
- Production Augmentation: Substantial investment in high-throughput growing technology to meet burgeoning global demand.
- Liquidity Management: Strengthening the working capital framework to support expansive operational cycles.
- Retail Proliferation: Accelerating the strategic rollout of a comprehensive pan-India retail footprint to capture domestic market share.
In a pivot toward high-margin industrial applications, DLGD is leveraging its proprietary synthesis capabilities to produce high-precision single-crystal diamonds. This initiative positions the firm as a critical component supplier for cutting-edge sectors, including:
- Quantum Computing & Semiconductors: Utilizing diamond’s superior thermal conductivity and electronic properties.
- Defense & Optics: Engineering specialized materials for high-stress aerospace and optical environments.
- Thermal Management: Providing heat-dissipation solutions for next-generation hardware.
Leveraging the multi-decade heritage of the Hari Krishna Group, DLGD maintains a robust, fully integrated value chain. This end-to-end oversight—encompassing synthesis, precision polishing, jewelry artisanal manufacturing, and international distribution—solidifies its competitive advantage in the sustainable luxury corridor.
As a pioneer in the sector, DLGD’s early-mover advantage—evidenced by its successful penetration of the US retail market as early as 2018—provides a seasoned foundation for its current expansion. By bridging the gap between luxury aesthetics and deep-tech utility, DLGD is poised to redefine the economic landscape of synthetic carbon structures on a global scale.
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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.