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Here’s a lab-grown diamond startup that’s attracted a16z’s attention

  • April 24, 2024

Throughout hip-hop’s long history, jewelry has served as an important vehicle for artists to convey their ideas and affluence, or simply to dazzle onlookers. Diamonds, in particular, serve as an important motif, famously exemplified by Drake’s $400,000 diamond-encrusted iPhone case.

But not everyone is a millionaire rapper, and most people can’t exactly afford to wear bust down watches flooded with ice. Still, there’s certainly a market for such jewelry at a lower price point, and venture capitalists appear to have noticed it: A direct-to-consumer diamond jewelry startup called Pascal has raised nearly $10 million in VC funding to date, of which $2.5 million came from Andreessen Horowitz in early 2023, TechCrunch has learned.

What’s more, the company expects to generate $20-$30 million in revenue this year, and has a three-month customer repurchase rate of roughly 20%, according to its founder and CEO, Adam Hua.

Pascal’s pitch is that it can make diamond jewelry accessible by using lab-grown diamonds that are chemically and physically akin to natural diamonds but cost one-twentieth of the price. The company’s gem-studded jewelry starts at as little as $70, and it is hoping using cultivated diamonds will help it gain a foothold in the more affordable segment of the wider jewelry market.

“Diamond is unique to hip-hop; it’s a status symbol. But most people cannot afford diamonds,” Hua said. “Cultivated diamonds fundamentally transform the supply side of the industry.”

Synthetic diamonds have been around since the 1950s, and they’ve been often used to make high-carat jewelry. These diamonds are usually “grown” in labs, where extreme forces and heat are applied to graphite, similar to the process that gives rise to naturally occurring diamonds. Manufacturers of lab-grown diamonds often also like to tout their more environmentally friendly process, and some even take their missions a

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Soon You May Know Exactly Where Your Diamond Was Mined

  • November 25, 2023

“The social and economic value of diamonds is very different depending on where they come from in the world,” Mr. Moltke said on a video call earlier this month from his home in Antwerp, Belgium. He moved to the city, a diamond trading hub, after leaving De Beers, where he had worked for 16 years, including five years in Gaborone, Botswana’s capital.

“I saw firsthand how these diamonds do good and how important it is for those communities who live off them,” he said.

This month, International Diamond Center, a 12-store jewelry retailer based in Clearwater, Fla., is planning to introduce Botswanamark’s branded diamonds at four of its stores, Mr. Moltke said, adding that the consumer experience will be similar to the De Beers model.

Greg Kwiat, chief executive of Kwiat Diamonds, a diamond jewelry brand in New York City, said the company’s Mine to Shine traceability program, introduced in June, was likewise based on a desire to show how diamonds positively affect the communities in Africa where they are mined.

Consumers who buy Kwiat diamonds are able to follow their stones from the mine through the stages of cutting and setting into jewelry. “Right now, we’re sharing videos and imagery of the process as it’s occurring,” Mr. Kwiat said. “At the end, you get this aggregated video from start to finish as a wonderful shareable memento.”

Proving mined diamonds’ origins is something the diamond industry has focused on since the late 1990s, when the blood-diamond crisis shook consumer confidence in the trade. In 2003, a coalition of governments, civil society and diamond industry established the Kimberley Process Certification Scheme, aimed at preventing the flow of conflict diamonds.

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Raj Diamonds unveils exquisite “Reign” diamond jewellery collection at THE WEEEK Fashion Show

  • November 14, 2023

Bengaluru: Raj Diamonds, a distinguished name in the world of diamond jewellery, has unveiled an extraordinary high-end diamond jewellery collection titled “Reign by Raj Diamonds” at THE WEEEK Fashion Show held recently in Bengaluru. This new collection marks a significant expansion for the brand, introducing a luxury bridal jewellery couture. “Reign by Raj Diamonds” includes a stunning array of necklaces, rings, earrings, bracelets, bangles, pendants, and various handcrafted diamond-encrusted jewellery pieces, all designed to add a touch of sparkle to the festive and wedding season. The collection is a testament to the brand’s dedication to excellence and its commitment to providing the finest diamond jewelry for its discerning clientele.

What sets this collection apart is the incorporation of rare and prized gemstones from around the world. The fiery passion of Burma ruby, the serene allure of sapphires, the lush green of Colombian emeralds, the intriguing depths of Afghan Kunzite, stunning blue and violet hues of rare Tanzanite from Tanzania, and incredibly rare tourmalines are all harmoniously blended in this masterpiece collection. Each gemstone tells a unique story, a narrative of the Earth’s geological journey, and the collection truly exemplifies the magic of colours, showcasing extraordinary coloured gemstones, artistic ingenuity, and exceptional craftsmanship.

Launching the new collection, Managing Director, Raj Diamonds, Eshwar Surana said, “It’s always been our endeavor to bring beautifully designed products crafted to perfection. With our new collection, ‘Reign by Raj Diamonds,’ we aim to make every milestone moment a cherished memory to behold. The vibrance and charm of our new collection reflect the myriad roles that today’s women gracefully portray. This collection unveils a world where no two pieces are alike and is sure to add panache and extend the effortlessly unique persona of the wearer. We hope each jewellery piece from this bespoke collection

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Pandora Celebrates Launch of Lab-Grown Diamond Collection with Star-Studded Diamond District

  • September 15, 2023

To celebrate the launch of their new pandora.net/en/collections/pandora-lab-grown-diamonds/”Lab-Grown Diamond Collection, Pandora took a glamourous take on the iconic New York City diamond district for a star-studded event on the eve of New York Fashion Week. Transforming NYC’s Lafayette Street parking lot in the famed Astor Place neighbourhood, Pandora in partnership with experiential marketing agency, Invisible North, created the luxurious “Lab-Grown Diamond District” and rolled out the pink carpet, bringing together celebrities – Pamela Anderson, Halle Bailey, Ashley Park and Julia Fox – and VIPS for the exclusive soirée.

With diamonds on full display, Pandora offered up close & personal viewing opportunities with a gemologist in their diamond shops, even including a diamond magnifier to view every intimate detail of the lab-grown diamonds.

Attendees noshed on baby tacos & burgers from local NYC food trucks, sipped on sunset-hued cocktails, and listened to live entertainment with DJ sets by Kesh, Mona and DJ Papi Juice, in addition to a live performance by Caroline Polachek.

Following the event, Pandora opened the Lab-Grown Diamond District to the public offering customers the opportunity to experience the diamonds for themselves as well as offering a photo booth experience and giveaways.

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Pharrell Williams’s Diamond Sunglasses at Louis Vuitton Show

  • June 27, 2023

Pharrell Williams’s first Louis Vuitton show certainly lived up to the hype. JAY-Z and a gospel choir performed; models walked over the oldest bridge in Paris; a pregnant Rihanna watched from the front row alongside Beyoncé, Zendaya, Kim Kardashian, and more A-list attendees; and Williams wore a pair of iced-out sunglasses worth more than my entire life savings and current belongings combined. All in a day’s work.

On June 20, Williams made his debut as Louis Vuitton’s menswear creative director during Paris Fashion Week, and he pulled out all the stops with his look. The singer-turned-designer chose a suit bearing the collection’s pixelated “Damoflage” print, a matching hat, and his latest pair of over-the-top sunglasses. Custom-designed by Tiffany & Co., the gold shades feature tiny egg-shaped lenses and are encrusted with more than 80 (!) baguette and round diamonds totaling at more than 20 carats. (That’s like doubling Kourtney Kardashian’s enormous engagement ring and dicing up the diamonds, for reference.)

Sunglasses that flashy come with quite the hefty price tag. Maxwell Stone, a diamond expert at UK-based jeweler Steven Stone, told POPSUGAR that he estimates they’re worth around $100,000. That’s more than the annual rent my roommates and I pay for our three-bedroom Brooklyn apartment. That’s like two years of tuition at Harvard. That’s more than . . . well, you get the picture.

This isn’t the first time Williams has stepped out in extravagant eyewear. In fact, he’s been wearing similar custom Tiffany & Co. sunglasses for more than a year, first showing them off at Kenzo’s Paris Fashion Week show in January 2022 then bringing them out on the 2023 Grammys red carpet. That particular pair was embellished with both round diamonds and emeralds and had horizontally aligned teardrop-shaped lenses. His ongoing

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‘Eternal Pink’ diamond could sell for $35M at June auction

  • March 31, 2023
pinkdiamond.jpg article

NEW YORK – A rare pink diamond will soon head the auction block and is expected to sell for millions of dollars.  

Sotheby’s announced “The Eternal Pink” diamond weighs 10.57 carats and has an estimated value of more than $35 million. 

“Pink diamonds of any size or depth of color have always maintained a special allure and reputation, but this diamond truly stands above them all.,” the company said in a press release. 

The diamond will make its public viewing debut in Hong Kong and will travel to several other countries before officially being up for auction on June 8 in New York.

Lab vs natural diamonds: What’s the difference?

Lisa Rosen, CEO of the International Gem Society, discusses the growing popularity of lab-grown diamonds and how they compare to natural diamonds.

The pink diamond came from an uncut gem that weight 23.78 carats and was mined by De Beers at the Damtshaa mine in Botswana.

RELATED: Man finds 2.38-carat diamond after decade-long search at park

It took six months to fashion the diamond. 

Sotheby’s says pink is one of the rarest of colored diamonds. What gives it the pink hue remains a mystery. It is thought the pink comes from the stone’s formation process deep within the earth. 

This story was reported from Los Angeles. 

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Jewellery maker Pandora goes big on lab-made diamonds with North American launch

  • September 21, 2022

COPENHAGEN (Reuters) – Pandora, the world’s largest jewellery maker, said on Tuesday it would move ahead with its bet on lab-made diamonds, following its announcement last year to stop selling mined diamonds.

Copenhagen-based Pandora will launch a collection using unmined gems in North America this month, as it hopes to attract younger shoppers with cheaper and more sustainable stones guaranteed not to have come from conflict zones.

The launch of 269 stores across the United States and Canada as well as online comes after a smaller pilot launch in Britain last year.

“Lab-created diamonds are just as beautiful as mined diamonds, but available to more people and with lower carbon emissions,” Chief Executive Officer Alexander Lacik said in a statement.

Lab-grown diamonds have seen demand growth and price decreases relative to natural-mined diamonds, according to Bain & Company research, which showed the average polished lab-grown retail price declined to 30% of natural prices.

The transition of lab-made gems towards being a viable commercial alternative to real diamonds has spurred firms such as De Beers and Swarovski to end their decades-old policy of shunning synthetic gems in their jewellery, while luxury group LVMH also is exploring the category.

The products range from a silver ring with a 0.15 carat lab-created diamond worth $300 to a solid gold ring which costs $1950.

While production of lab-grown diamonds is energy-intensive, Pandora said its diamonds would be made using only renewable energy.

The gems will be made using a technology in which a hydrocarbon gas mixture is heated to 800 Celsius (1,472 Fahrenheit), spurring carbon atoms to be deposited on a small seed diamond, growing into a crystal layer by layer.

(Reporting by Stine Jacobsen; Editing by Bernadette Baum)

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Jewellery maker Pandora ditches mined diamonds

  • September 17, 2022

“This brings greenhouse gas emissions of the collection’s entry product – a silver ring with a 0.15 carat lab-created diamond ($300) – down to 2.7 kg CO2e, which is equal to the average emissions of a t-shirt,” Pandora said.

The flagship product, a one carat lab-created diamond set in a 14 carat solid gold ring  and sold for about $1,950, has a footprint of 10.4kg CO2e, which is less than the average emissions of a pair of jeans.

The jeweller, best known for its charm bracelets, has committed to craft all its pieces from recycled silver and gold by 2025.

Pandora launched its first Pandora Brilliance collection using only man-made diamonds in the UK last year.

“Lab-created diamonds are just as beautiful as mined diamonds, but available to more people and with lower carbon emissions,” chief executive officer Alexander Lacik said in the statement.

World’s top jewellery maker Pandora ditches mined diamonds
The Danish company, best known for its charm bracelets, already doesn’t include mined diamonds in most of its pieces. (Image courtesy of pandora-world/”Pandora.)

While producing diamonds is energy-intensive, Pandora said its gems would be made using only renewable energy.

Since 2011, when prices peaked thanks to China’s younger shoppers, diamonds have faltered. Lab-grown stones, initially priced confusingly close to the real thing, posed a challenge.

Top diamond makers reacted to the new kind of diamonds, widely embraced by young consumers as they look identical to mined stones, by launching a joint marketing campaign.

Under the motto “Real is Rare”, the Natural Diamond Council (formerly the Diamond Producers Association), which groups the world’s leading diamond companies, launched a series of film-like spots targeting millennials — those born between 1981 and 1996.

Failing that, they begun selling man-made diamonds themselves. Anglo American’s De Beers created the Lightbox brand to sell

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Pandora Launches Lab-grown Diamond Collection in North America

  • September 16, 2022

ROCKING FORWARD: Pandora is poised to make lab-grown diamonds everyone’s best friend — in North America, at least.

The Danish jeweler is launching its Pandora Brilliance line in the U.S. and Canada on August 25 with diamonds grown in the U.S. from 100 percent renewable energy.

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“The future of luxury is here today. Lab-created diamonds are just as beautiful as mined diamonds, but available to more people and with lower carbon emissions,” said Pandora’s chief executive officer Alexander Lacik in a statement announcing the launch.

Part of a new Diamonds by Pandora category, the 33-pieces collection features VS+ clarity lab-grown diamonds between 0.15 and one carat, set in sterling silver, 14-karat yellow or white gold.

The collection is also the first to be entirely made of recycled silver and gold, following the jeweler’s 2020 announcement that mined metals would be phased out by 2025 to reduce the environmental impact of its jewelry.

The jeweler said the greenhouse gas emissions of its entry-price silver ring with a 0.15-carat diamond is on par with “an average T-shirt,” while a 14-karat yellow gold ring with a one-carat diamond, priced at $1,950, is “less than the average emissions of a pair of jeans.”

Lacik described the offering, which was first trialed in the U.K. in 2021, as “innovative jewelry that sets a new standard for how the industry can reduce its impact on the planet.”

At the time, Pandora stated that when the collection was launched globally, “the diamonds are expected to be made using 100 percent renewable energy.” The jeweler also revealed then that it would no longer use mined diamonds in its products, a use already limited to an annual limited-edition charm, amounting to around 50,000 pieces every year.

According to

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Pandora launches lab-made diamond collection as US sales decline

  • September 7, 2022
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Dive Brief:

  • Joining a trend that is shaking up the industry, Pandora announced Tuesday that it is launching a lab-created diamond jewelry collection in the U.S. and Canada on Aug. 25 that includes recycled silver and gold, according to a press release.
  • The 33-piece Brilliance collection — featuring rings, necklaces, bangles and earrings — has diamonds created using 100% renewable energy, per the release. It launches following a pilot in the U.K. last year, which coincided with news the retailer would stop using mined diamonds.
  • Pandora released Q2 earnings on Tuesday, showing that U.S. sales were down 12% year over year, which the company attributed to the lack of stimulus checks this year. 2022 guidance was unchanged and organic growth was 3% compared to 84% in Q2 2021.

Dive Insight:

Pandora is expanding its lab-grown diamond offerings into a market that hasn’t performed well for it this quarter, demonstrating a sense of optimism that the new category can bring.

“Lab-created diamonds are just as beautiful as mined diamonds, but available to more people and with lower carbon emissions. We are proud to broaden the diamond market and offer innovative jewelry that sets a new standard for how the industry can reduce its impact on the planet,” said Pandora CEO Alexander Lacik.

The lab-grown diamond trend is one that emerged prior to the pandemic and has continued on a strong growth trajectory, according to management consulting firm Bain & Company. With environmental considerations among consumers growing, the category saw demand growth and price decreases relative to mined diamonds, per Bain’s 2021 to 2022 diamond industry report.

Other luxury retailers are getting involved with lab-grown diamonds as well. The luxury ventures

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