Daily News
Titan Co picks up stake in America’s lab-grown diamond brand
NEW DELHI : Titan Co. Ltd has picked up a 17.5% stake in Stamford, Connecticut-based lab-grown diamond maker Great Heights Inc. for an estimated $20 million through its subsidiary TCL North America Inc., the company said on Friday. The “strategic investment will provide Titan a ring-side view of the fast-growing lab-grown diamond and direct-to-consumer sectors,” it added.
Great Heights is primarily engaged in retailing of lab-grown diamond jewellery via its brand Clean Origin. Set up in January 2019, it has more than doubled its revenues from $11 million in 2019 to $25 million in the year 2021. “TCL North America Inc., a wholly-owned subsidiary of the company has today signed a stock purchase agreement with Great Heights Inc., USA for subscription of shares with voting preferred stock in the capital stock of Great Heights, which would result in TCLNA holding up to 17.5% voting rights in Great Heights,” Titan said in a stock exchange filing. The deal is expected to close by 15 March.
Mint had earlier reported that India is set to become a hub for the production and processing of lab-grown diamonds accounting for 10% of the worldwide diamond market by 2030.
Courtesy: Mint
Dubai Business Group for Gold and Jewellery Designers conducts its first international design award show
UAE concludes Kimberley Process Plenary in Dubai with tangible action on membership and security
More than 120 leading brands from 16 countries make 31st edition of Jewellery & Watch Show Abu Dhabi a big success
Dubai-based fine jewellery label Amolune celebrates Palestinian culture and Arab identity
Seapearls Jewellery set to celebrate flagship store opening on Ruwi High Street in Muscat
American Gem Trade Association bans exhibition of lab-grown gemstones at its shows
5th Retail Jeweller Dubai Forum 2024 set to decode Next-Gen retail and ways to drive its success
Kanz Jewels wins over customers’ hearts with electrifying event featuring Indian singer Kailash Kher
Joyalukkas launches second showroom in the United Kingdom in London
Phygital, tech adoption and bridging gap with Gen Z turn out to be key areas of focus at the 5th Retail Jeweller Dubai Forum
The Retail Jeweller World Dubai Forum 2021 shines a spotlight on the industry’s brightest achievements
Agile Leadership: What Kept the Boat Floating
A decade of home: Staying ahead in the game
ROI & GMROI : True Measure of Financial Dynamics in Retail
Driving finger-falls to footfalls: Aurum Bazaar
Wide Angle8 months agoAmerican Gem Trade Association bans exhibition of lab-grown gemstones at its shows
RJ Market Watch9 months ago5th Retail Jeweller Dubai Forum 2024 set to decode Next-Gen retail and ways to drive its success
RJ Market Watch7 months agoKanz Jewels wins over customers’ hearts with electrifying event featuring Indian singer Kailash Kher
Daily News11 months agoJoyalukkas launches second showroom in the United Kingdom in London
You must be logged in to post a comment Login