Lab-grown diamonds will eventually dominate the fashion markets across the world, predicts Rohan Siroya, CEO of Evermore

Rohan Siroya, the scion of the Siroya jewellery empire, has a clear ambition to catapult the company into the next phase of development and continued success. Having honed his skills as a real estate developer in Mumbai, Rohan has demonstrated his versatility...


De Beers to start production at SA's Venetia underground project this year, establishes JV with Endiama in Angola

De Beers is expected to begin production at its Venetia underground project in South Africa this year, almost two years behind the initial commence date. Construction of the underground project started in 2013 and first production was targeted or 2021...

30 january 2023

“Although we’re the 7th world gold producers, we have to buy the metal in USA”

With more than 45 years in the industry, Clemente Guevara runs New Fashion Peru, one of the three largest jewelry companies in the country. All together control the 90% of a 120-million-dollar jewelry export market. Mr. Guevara is also a member of...

23 january 2023

Consumers are testing a vastly less-expensive alternative to natural diamonds - Vin Lee, CEO of Grand Metropolitan

Vin Lee, the self-made billionaire CEO of Grand Metropolitan of USA, is popular as the 'King of Luxury'. The Beverly Hills family office 'Grand Metropolitan' is a $7 billion AUM privately held luxury goods holding company with a 60-brand...

16 january 2023

"Surat Diamond Bourse will become the voice of industry in the coming days," says Vallabhbhai Patel, Chairman of the Surat Diamond Bourse

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, looks towards the Surat Diamond Bourse (SDB) to play an important role in turning Surat into the world’s largest manufacturing and trading diamond hub in a short period. Vallabhbhai dreamed...

09 january 2023

Fosun weighs sale of Belgian diamond-grading firm IGI

24 january 2023

Fosun International Ltd. is weighing a sale of International Gemological Institute in a deal that could value the diamond-grading firm at about $215 million, according to a report in Bloomberg.
The Chinese conglomerate is working with Deutsche Bank AG on the potential divestment of the Antwerp, Belgium-based institution. The Fosun unit that owns an 80% stake in IGI has not confirmed the news.
According to the report, Fosun is one of China’s largest non-state conglomerates with businesses including consumer, health care, property, financial services and mining. Shares of Fosun have risen about 12% this year in Hong Kong, giving the conglomerate a market value of about $7.5 billion.
Founded in 1975, IGI is one of the two main institutions that certify diamonds and other gems for their color, cut, clarity and weight. IGI operates 20 laboratories globally, grading finished jewelry, natural diamonds, lab-grown diamonds and gemstones, its website shows. It also runs 14 schools of gemology that train professionals in the diamond industry.
As per the Bloomberg report, Shanghai Yuyuan bought an 80% stake in IGI in 2018 for $108.8 million from shareholders Roland Lorie and Marc Brauner. The founding Lorie family kept the remaining 20%.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished