DiamondBuzz
Priyanka Gill quits Kalaari Capital to launch lab-grown diamond brand
Priyanka Gill, a serial entrepreneur and former Venture Partner at Kalaari Capital, has launched COLUXE, a lab-grown diamond (LGD) jewelry brand that seeks to transform the fine jewelry sector.
With a focus on luxury, sustainability, and accessibility, COLUXE offers an extensive range of jewelry designs, including solitaire rings, pendants, earrings, and tennis bracelets. The brand incorporates advanced technology, allowing for customization via AI and multi-use settings, ensuring personalized, ethical, and sustainable products.
COLUXE positions itself as India’s first pan-India LGD jewelry brand, blending digital and retail experiences. The brand’s technology-driven approach includes AI-powered virtual try-ons, personalized jewelry options, and a strong focus on ethical sourcing and certification. COLUXE also aims to build consumer trust by offering education on LGDs and providing easy returns and exchange policies, ensuring a seamless shopping experience across both digital and flagship store channels.
With plans to launch digitally in mid-2025, COLUXE is set to tap into India’s $50 billion fine jewelry market. The brand’s mission is to redefine the luxury jewelry landscape by making lab-grown diamonds an aspirational yet sustainable option for consumers. COLUXE aims to become India’s best-loved LGD brand, offering cost-effective, ethical jewelry that is visually identical to mined diamonds while being a more responsible choice for the planet and people.
DiamondBuzz
Alrosa Plans To Expand Diamond Production Through Severalmaz
Outlines An Expansionary Roadmap and Diversification Strategy Amid Market Volatility
Alrosa has confirmed a strategic pivot toward aggressive capacity expansion via its wholly-owned subsidiary, Severalmaz. Currently contributing approximately 10% to the Group’s aggregate output, Severalmaz is slated to become a primary engine for long-term value creation.
Despite prevailing macroeconomic headwinds and a softening in global demand for natural stones, Alrosa reported that the Lomonosov deposit maintained a stable production baseline, yielding an annualized run-rate of approximately 3.5 million carats through FY24 and FY25.
Key Strategic Pillars:
- Operational Resilience: CEO Pavel Marinychev emphasized that Severalmaz serves as a systemically important entity within the Arkhangelsk regional economy, providing a “solid foundation” for the Group’s multi-decade development cycle.
- CAPEX & Exploration: The firm is committed to significant capital expenditure directed toward greenfield exploration and the modernization of existing mining infrastructure to drive operational alpha and safety.
- Portfolio Diversification: To hedge against cyclical diamond market downturns, Alrosa is actively de-risking its balance sheet by diversifying into gold mining and offloading approximately 30% of its inventory to Gokhran to ensure consistent liquidity flows.
- R&D Synergies: The roadmap includes deep integration with regional scientific-industrial hubs to optimize extraction efficiencies and future-proof the production pipeline.
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