â€“ This is a part of a strategic alliance to manufacture & distribute CVD diamond studded jewellery globally.
MUMBAI, India, May 19, 2023 /PRNewswire/ -- As an extension of an existing strategic tie-up between both the Groups, Emerald picked up an equity stake in Limelight Diamonds with an objective of establishing Limelight as a vertically integrated brand and jointly manufacture, sell and distribute lab grown CVD diamond studded jewellery in India and international markets. The terms of deal remain undisclosed.
Emerald Jewel Industry has been one of the world's largest jewellery manufacturers with manufacturing capacities of 48 tons of gold, 50,000 carats of diamonds, 600 kgs of platinum and 70 tons of silver based jewellery annually. On the other hand, Limelight Lab Grown Diamonds Limited, is India's largest D2C luxury brand in CVD diamond studded jewellery and is backed by the world's leading producer of lab grown CVD diamonds - the Bhathwari Group that boasts of an annual production of 5 million carats of CVD rough diamonds annually, nearly 30% of India's overall CVD diamond production.
This alliance shall enable Limelight to leverage Emerald's 38 years of experience in jewellery designing & manufacturing alongside a dedicated manufacturing setup, access to a wide range of ready design bank of jewellery and access to their network of 300+ distributors and 20,000+ retailers. This coupled with Limelight's own strength of providing a consistent supply and purest quality Type IIa diamonds will allow Limelight to offer a huge range of the best finish jewellery from India to the world.
"The purpose is to manufacture and distribute best finish lab grown CVD diamond jewellery. With the strength of our manufacturing, finishing and market distribution together with Limelight's strength of huge CVD diamond production, I am confident that our customers will be able to make the most of this as a new and incremental business opportunity," says Mr. K Srinivasan, Chairman and MD, Emerald Jewel Industry India Ltd.
"Awareness on lab grown diamonds is spreading fast in India. The unique & independent personality of lab grown diamonds as a sustainable & environmentally friendly yet affordable gemstone is extremely well accepted in the millennial consumers and is increasingly reflecting in the sales of lab grown diamond studded jewellery across India. With this joint venture, our aim is to introduce unique never seen before designs in the best finish and further strengthen the brand's penetration of LGD jewellery in India as well as globally," says Mrs. Pooja Sheth Madhavan, MD & Founder of Limelight Lab Grown Diamonds.
Both companies are very excited and optimistic as this partnership will allow them to drive far more impact across the globe by making CVD diamond studded jewellery available. This alliance, will prove to be a game changer in the way the jewellery industry perceives the needs of its customers and how it caters to the market. With this collaboration, both firms are poised to exceed all expectations.
About Limelight Diamonds:
Started in 2019, Limelight Lab Grown Diamonds Ltd has been India's leading sustainable diamond luxury brand offering lab-grown CVD diamond-studded jewellery. Headquartered in Mumbai, Limelight has been able to spread its wings in India with a network of over 65+ partners in cities like Hyderabad, Bangalore, Chennai, Kolkata, Delhi, Surat, Mumbai, etc. Backed by the world's largest lab-grown diamond production unit that boasts of rough diamond production of over 5 million carats each year, we come with the strength of a wide range of jewellery for our customers.
About Emerald Group
Emerald Jewelry India Limited is the result of one man's dream and unending hard work to grow into 'World's Largest Jewelry Manufacturer' from scratch. Way back in 1984, founder K.Srinivasan started EJIIL in Coimbatore to meet the demands of India's market that was just asserting itself and finding it's place as an economy. Rapidly adapting to emerging technology and good innovation helped Emerald propel itself to the top where it sits right now, as one of the World's Leading Manufacturers. Today, EJIIL boasts a whopping number of unique designs â€“excess of 500,000, a broad diversification technology used, a 5000 member plus dedicated workforce, 15 exclusive showrooms across various states in India (with many more to come), 82 distributors all over the country, and design centers in Coimbatore, Mumbai, Delhi and Dubai â€“ and is still growing.
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