Capacity Boost: Indian Company Buys 1,100 Lab Grown Machines

Greenlab, recognized as India’s largest lab-grown diamond producer, is set for a huge increase in capacity, after buying more than 1,100 new growing machines.

The company already has 1,600 machines, producing 2.9m carats of rough diamonds a year.

It has reportedly bought 105 high-tech growers from the Israeli firm Isrough and 1,000 more from India-based Bhanderi Lab Grown.

It said it chose Isrough’s machines for their ability to produce top-quality diamonds: D and E colors, with much of their output in the VVS clarity range.

Greenlab sells its polished diamonds through its US subsidiary, Labon, and has a distribution partnership with Florida-based Green Rocks.

India is the world’s second-largest lab-grown diamond producer with a 15 per cent market share, but trails a long way behind China, which produces about half of the world’s lab-grown diamonds.

Source: DCLA

The Kao Legend Collection: A Rare Suite of Pink Diamonds from Lesotho

The Kao Legend Collection represents an extraordinary achievement in diamond cutting and curation. Cut from a single 108.39-carat pink diamond crystal unearthed at the renowned Kao Mine in Lesotho, this suite features seven magnificent pink diamonds each documented in detail by the GIA Monograph.

At the heart of the collection lies the Kao Legend, a 20.49-carat diamond graded Fancy Intense Purplish Pink by the Gemological Institute of America (GIA). The accompanying diamonds in the collection range in colour from Fancy Intense Purplish Pink to Faint Pink, showcasing a delicate and rare spectrum of pink hues.

What sets this collection apart is not only its shared origin and harmonious beauty but also the diamonds’ classification. All seven are Type IIa diamonds known for their exceptional chemical purity and rarity, comprising less than 2% of all natural diamonds. Type IIa pink diamonds are especially coveted for their remarkable clarity and vibrant colour saturation.

The Kao Mine, one of Lesotho’s most prominent diamond sources, has established a reputation for yielding high-quality pink diamonds. Alongside the Kao Legend, the mine also produced the celebrated Pink Eternity, a 47.80-carat gem of international acclaim.

For gemmologists and collectors alike, the Kao Legend Collection exemplifies nature’s artistry and the pinnacle of diamond excellence.

US Watch and Jewelry Sales Dip in June Ahead of Tariffs

Watch and jewelry sales in the US slipped into negative growth during June – down 1.7 per cent – after 19 months of almost uninterrupted increases.

The decline, after such a prolonged positive period, reflects growing concern over the impact of US reciprocal tariffs which came into force on 1 August, along with broader economic uncertainty in the market and higher gold prices.

Meanwhile the US Department of Commerce has made significant changes to figures published last month. Sales for May have been revised down from +2.8 per cent to +0.7 per cent, based on actual transactions rather than estimates, and April is down from +2.3 per cent to +1.8 per cent.

The original figures indicated that things were better than they actually were, especially after a number of months when monthly sales increases were hovering just above zero. The June dip appears to signal a downturn ahead of the 1 August implementation of tariffs.

Source: IDEX

Diamond Ring that Flashes Color Smartphone Alerts

A “quiet tech” diamond ring flashes different colors to alert the wearer to smartphone activity.

The 1.5-ct emerald-cut CVD lab grown stone is set in a white gold bezel, and will be available for pre-order in the third quarter of 2025 at around $3,000, with products expected to be delivered in mid-2026.

French startup Spktrl, which developed the Bluetooth-enabled, AI-powered device, says it’s the first of its kind. There are other smart rings on the market, but they function as health and fitness trackers.

The sole function of Light Ring is to discreetly signal priority smartphone notifications, helping reduce digital distractions.

Built-in artificial intelligence learns user habits over time to refine which alerts activate the ring.

Spktrl was founded by Katia de Lasteyrie, a former innovation lead for LVMH’s watches and jewelry division.

“Our technology isn’t designed to replace phones or make you faster but to give you back control,” she said.

“The stone is the interface, and the color is the language. Personalized to each user, our ring communicates important messages in a novel way that is truly mindful of their time and attention,”

Source: DCLA

US Importers to Pay 37% Tariff on Botswana Diamonds

The US is almost certain to go ahead and impose a 37 per cent tariff on all goods imported from Botswana, starting tomorrow 1 August.

That is one of the highest rates of tariff being introduced by the US.

Botswana, the world’s second biggest diamond producer after Russia, has been actively seeking dialogue with the US government to reverse or mitigate the tariff, but without success.

Last month President Duma Boko said tariff imposed on Botswana worsened the already bleak future faced by the diamond industry, and were likely to hinder efforts to grow the African economy.

Most of Botswana’s rough diamonds are sold direct to India, Belgium, and the UAE, but goods worth around $500m annually are exported to the US and will be subject to tariffs. Until now diamonds have been zero-rated.

US importers will have to pay a total of 37 per cent in duties. The reciprocal duty includes the 10 per cent baseline duty that was imposed back in April.

The tariff rules for Botswana, and most other countries, are unlike those for India, where the reciprocal tariff is in addition to the baseline 10 per cent.
US-bound diamonds represent a modest slice of Botswana’s total diamond export business, and most of the country’s diamond revenue is not directly affected by the new US tariff.

It is, however, another blow to a country that relies on diamonds for the vast majority of its export revenue, and that has seen foreign sales halve amid the global downturn.

Source: IDEX

Trump Imposes 25% Tariff, Plus “Penalty” on India Exports

India’s diamond industry today (30 July) had its worst fears confirmed as the US announced all imports would be subject to 25 per cent tariffs, effective as of Friday (1 August).

In addition it will face an unspecified extra penalty for buying military equipment, oil and other goods from Russia.

Lingering hopes of a last-minute deal to avoid the additional tariffs were crushed when President Donald Trump singled out India, the world’s biggest diamond manufacturer, for special mention on his Truth Social platform.

“While India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,” he wrote.

Kirit Bhansali, chairman of the India’s Gem and Jewelry Export Promotion Council (GJEPC) reacted to the news saying: “This is a deeply concerning development. The Indian gem and jewellery sector, in particular, stands to be severely impacted.

“The United States is our single largest market, accounting for over $10 billion in exports – nearly 30% of our industry’s total global trade.

“A blanket tariff of this magnitude will place immense pressure on every part of the value chain.”

Colin Shah, managing director of diamond jewelry manufacturer Kama Jewelry, reacted to today’s news, said: “With the US being one of the key export destinations, this will severely impact the sectors like gems and jewellery that are heavily dependent on exports.

“Going ahead, we expect trade activities to remain muted with U.S. However, we also need to wait and watch how the situation unfolds.”

Less than two weeks ago, Trump said the US and India were “very close” to reaching an interim agreement, but those talks stalled, primarily over agricultural and dairy goods.

And only days ago US Trade Representative Jamieson Greer told reporters: “We continue to speak with our Indian counterparts. We’ve always had very constructive discussions with them.”

Source: DCLA

Jewelry Sales Up, Watches Down at Richemont

Richemont reported another increase in jewelry sales in the three months to 30 June, but saw its watch revenue dip again.

The Swiss luxury goods conglomerate said its jewelry maisons – including Cartier, Van Cleef & Arpels, Buccellati, Piaget and Vhernier – saw sales increase by 11 per cent at constant exchange rates during Q1 FY2026 to EUR 2.914bn (USD 3.359bn).

It marks the third consecutive quarter of double-digit growth. In Q4 2025 the increase was 8 per cent.

Richemont said sales had been boosted in Europe, Americas, and Middle East & Africa by a robust recovery in tourism local spending. All regions posted increases, except for Japan.

But watch sales declined by 7 per cent to EUR 824m (USD 950m), mainly due to downturns in China and Japan, but offset by double-digit growth in the Americas.

Consumers were cautious, switching from high-end to mid-range watches from Richemont’s brands – A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin.

Watches and jewelry account for almost 90 per cent of Richemont’s total revenue (the rest is fashion and accessories).

Across the entire group sales increased 6 per cent to EUR 5.4bn (USD 6.23bn) despite macroeconomic volatility.

Source: DCLA