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Strong Growth Ahead (with Lab-grown diamonds)
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Sunflower19
Member |
27-Sep-2023 13:11
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Ask Volume: 550,000 Ask Price: 0.055 Total: $30,250 |
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Joelton
Supreme |
12-Aug-2023 14:07
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Court orders ex-director of Metech JV to pay costs over missing diamonds
CATALIST-LISTED Metech International on Friday (Aug 11) said the High Court has ordered that costs totalling S$34,000 be made to its joint-venture (JV) entity.
This is in relation to its legal proceedings over missing diamond seeds and loose diamonds.
The lawsuit was brought against Deng Yiming, one of the owners of its subsidiary&rsquo s former JV partner X Diamond Capital.
The JV entity is Asian Eco Technology (AET), established on Sep 24, 2021 between Metech&rsquo s wholly-owned subsidiary, Asian Green Tech, and X Diamond Capital to manufacture and distribute lab-grown diamonds.
Metech claimed in a March bourse filing that the pieces were last in Deng&rsquo s possession, and he had not satisfactorily addressed issues relating to them.
In giving the update on Friday, Metech said its legal adviser on Thursday had informed it that a High Court judge has granted summary judgement against Deng, and ordered him to pay AET costs totalling S$34,000, excluding disbursements.
The judge further declared that Deng holds the diamond seeds and loose diamonds as a constructive trustee for AET, and ordered for damages to be assessed and paid by Deng to AET, the update stated.
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WBdisciple
Master |
05-Oct-2022 17:46
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A new major shareholder, X Diamond, appeared with 15% stake, buying over from Simon Eng at about S$0.20 per share, which is a good premium over current share price. Current share price undervalued?? |
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gummybear133
Member |
05-Oct-2022 11:15
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超 越 天 然 钻 石 Xu Kang: Lab Grown Diamonds Are A Good Investment - 新 版 ｜ SINGAPORE - 《 品 PIN Prestige》 |
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For_The_Next_Leg
Veteran |
05-Oct-2022 10:43
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$MetechIntl(V3M.SI) the future looks bright for lab grown diamonds!
https://www.nationaljeweler.com/articles/11284-looking-ahead-4-factors-that-could-shape-lab-grown-diamonds-future
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gummybear133
Member |
27-Sep-2022 12:41
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Happy 1st Anniversary for Asian Eco Technology!! |
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For_The_Next_Leg
Veteran |
27-Sep-2022 11:26
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$MetechIntl(V3M.SI) Company has started production of lab grown diamonds. Festive season is coming. Be prepared for a boom in the full year reporting!
https://www.forbes.com/sites/pamdanziger/2022/09/11/pandora-gives-new-meaning-in-the-lab-grown-diamond-jewelry-market/
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For_The_Next_Leg
Veteran |
26-Aug-2022 09:39
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$MetechIntl(V3M.SI) I had stated many times the war is creating demand for lab grown diamonds. Even if the war stops, the supply chain will have been disrupted. http://www.idexonline.com/Memo?Id=47892 |
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For_The_Next_Leg
Veteran |
23-Aug-2022 13:54
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$MetechIntl(V3M.SI) If you still don' t know, India is a diamond giant for it' s polishing services and when the country is already actively engaged to polish lab grown diamonds, this meant that these man made products has already had significant demand now! " At present, 25-30 per cent of diamond polishing units in Surat service lab-grown diamonds, with around 15 per cent of units dealing only in the lab-created commodity." https://www.business-standard.com/article/economy-policy/surat-polishing-industry-in-for-a-treat-as-lab-grown-diamonds-find-favour-122082200306_1.html |
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For_The_Next_Leg
Veteran |
09-Aug-2022 09:43
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$MetechIntl(V3M.SI)
" A wholly-owned subsidiary, Zhongxin Minghua (Shanghai) International Trade Co., Ltd. (formerly known as Nolash (Shanghai) Pte Ltd.), is now a registered member (企 业 编 号 : 1003) of the Shanghai Diamond Exchange with effect from 13 July 2022."
Best news!
https://links.sgx.com/1.0.0/corporate-announcements/D2IJR7I6TE4M56HP/028d503d12b2a21fd691c6a3570cba80480c9098f4c6ec5ba972efd622de7567
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For_The_Next_Leg
Veteran |
04-Aug-2022 08:27
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$MetechIntl(V3M.SI) This article explains why companies should embrace this new segment.
https://www.nationaljeweler.com/articles/11134-why-passing-on-lab-grown-diamonds-might-be-a-risky-bet |
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tedlim
Veteran |
23-Jun-2022 09:36
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What&rsquo s Behind LVMH&rsquo s Investment in a Lab-Grown Company? By Rob Bates | June 22, 2022 LVMH Luxury Ventures&rsquo investment in Lusix was eyebrow-raising and noteworthy. What does it mean going forward? When asked why LVMH invested in his nascent diamond-growing company, Lusix&rsquo s owner, Israeli billionaire Benny Landa, said at a JCK Las Vegas press conference: &ldquo Clearly, [LVMH] have made a financial investment. But I would ask myself, &lsquo Why would a luxury brand make a financial investment?&rsquo There&rsquo s obviously very good reasons.&rdquo After discussing that question with some well-informed folks, here are the best possible guesses. One complaint I often hear from lab-created diamond sellers is that growers can&rsquo t produce consistently or reliably. That issue has led to at least one lawsuit. &ldquo It&rsquo s hard to find nice-quality goods,&rdquo Ada Diamonds cofounder Lindsay Reinsmith told me last year. &ldquo If I had to guess, that&rsquo s the No. 1 reason that an LVMH brand has not stepped in [to the lab-grown market]. There are not enough nice goods available.&rdquo If LVMH ever wanted to offer a lab-grown product&mdash especially if it wanted to sell it at a big name, like Tiffany&mdash it would need scale. Lusix says its production is more consistent and high-quality than others. Of course, it&rsquo s not the first grower to make that claim only time will tell if that actually pans out. But LVMH&rsquo s investment will help Lusix scale its possibly more consistent production. Which raises the question: Would LVMH&mdash known for ultraexclusive luxury&ndash ever offer lab-grown diamonds at one of its jewelry brands? One has to believe it may consider it, as it&rsquo s already used lab-grown diamonds on a TAG Heuer watch. Consider LVMH&rsquo s plan for Tiffany: It&rsquo s targeting a younger demo it wants to &ldquo elevate&rdquo the brand to reach higher price points and it continually seeks&mdash and even seems to crave&mdash attention. Launching a lab-grown diamond line might tick two of those boxes, though it&rsquo s still not clear how lab-growns are playing in China, another brand focus. But if lab-grown diamonds are used as &ldquo starter&rdquo price-point jewelry, it could tick all three. (For the record, Tiffany&rsquo s past management said that lab-grown diamonds are &ldquo not a luxury material.&rdquo ) Which brings up another question: Would an LVMH brand ever carry lab-grown engagement rings? That might be harder to imagine, given how natural diamond solitaires are the backbone of LVMH brands such as Tiffany. But it&rsquo s a little easier to conceive following Russia&rsquo s invasion of Ukraine, which is looking like a long, multiyear slog. Even if the war ends tomorrow, Alrosa might not get off the U.S. sanctioned entity list for some time. That leaves a possibly huge gap in diamond supply. On LVMH&rsquo s most recent earnings call, chief financial officer Jean Jacques Guiony said, &ldquo We are currently working on replacing sourcing from Russia, from other locations, and it&rsquo s perfectly doable in a reasonably short time frame.&rdquo Might Lusix be part of its short- or long-term solution? We&rsquo ll see. Also worth noting: Lusix is marketing its diamonds as &ldquo sun-grown,&rdquo as they are produced with solar power. At the press conference, Landa said he wants &ldquo Sun Grown Diamonds&rdquo to become a &ldquo brand within a brand,&rdquo like Intel Inside. That&rsquo s telling when gem companies talk about &ldquo ingredient brands,&rdquo they almost always reference Intel&mdash see Forevermark, Gemfields, WD Lab Grown, and, um, Alrosa. Of course, building any kind of brand is expensive, provided a company is serious about it, which I&rsquo m not sure Lusix is. Landa declined to spell out any ad plans, but Intel&rsquo s annual marketing budget is over $1 billion. It&rsquo s also not clear whether the term sun-grown complies with the Federal Trade Commission (FTC) Guides for describing lab-grown gems, especially if that term is used alone, and not with another recommended descriptor. (Those are currently limited to lab-grown, lab-created, and [company]-created.) In 2019, the FTC warned lab-grown companies against using terms that &ldquo could suggest that the diamonds are naturally grown,&rdquo specifically calling out the term pure grown. If FTC attorneys are on record objecting to the term pure grown, it&rsquo s hard to imagine sun-grown, a frequent descriptor for fruits and vegetables, would fare any better. Sara Yood, deputy general counsel of the Jewelers Vigilance Committee notes &ldquo the [FTC] Green Guides caution against terms that could suggest laboratory-grown diamonds are naturally grown.&hellip Sun-grown diamonds could be implying to a consumer that the diamonds were naturally grown. This claim, without qualification, could absolutely deceive a consumer, and I would expect the FTC would agree.&rdquo She adds that phrases &ldquo like &lsquo solar-power lab-grown diamonds&rsquo or possibly even just &lsquo solar lab-grown diamonds&rsquo would be OK under the current guides.&rdquo But she believes that sun-grown diamonds would not be. Lusix spokesperson Elizabeth Chatelain responds: &ldquo We think it&rsquo s an accurate descriptor. Maybe five years ago, it would have been confusing for consumers, but now we feel that they understand the difference. In the consumer&rsquo s mind, there are two terms: natural/mined and grown/created diamonds.&rdquo Regardless, this does explain some comments Landa made to me during a post&ndash press conference interview, which first struck me as strange, but now make more sense. In them, he compared growing diamonds to growing tomatoes. Lusix&rsquo s diamond growers work like &ldquo a tomato grower in a greenhouse,&rdquo he said. &ldquo We don&rsquo t replace nature. All we do is create the environment that nature can create a diamond. We do it in a chamber, but it&rsquo s nature that creates the assembly that creates the diamond, just like it&rsquo s nature that grows the tomatoes. All the farmer does is create the right conditions&mdash the soil, etc.&mdash that enables nature to create the product.&rdquo With all due respect to Mr. Landa&mdash who has that salesman&rsquo s skill of seeming completely committed to what he&rsquo s saying&mdash there&rsquo s obvious differences between a highly mechanized factory and a greenhouse or a farm. Greenhouses are hundreds of years old. They were around before electricity. Diamond-growing machines require huge amounts of power and were invented in the mid-20th century. Landa did admit that diamond growing is &ldquo not a natural process,&rdquo but claimed tomato growing isn&rsquo t natural either. Now it&rsquo s true, there are greenhouses and farms that use so many industrial processes, including chemical pesticides and GMOs, that they can&rsquo t qualify as organic. I&rsquo m not sure why Landa would want to lump his process in with those operations. Regardless, some greenhouse-grown tomatoes can be certified organic. By contrast, no lab-growing facility would be certified as natural, no matter how many clever analogies one comes up with. When talking on the Rapaport podcast about the supposed eco benefits of lab-grown diamonds, Landa said that &ldquo all you have to do is look at a picture&rdquo of a mine. |
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tedlim
Veteran |
21-Jun-2022 09:21
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https://www.investor-one.com/editorial/21055-A-look-at-this-Net-Cash-Company-venturing-into-the-Lab-Diamond-Business A look at this Net Cash Company venturing into the Lab Diamond Business According to an article by National Jeweler, in 2018, lab-grown diamond jewelry sales totaled less than US$1 billion, representing less than 1% of the total global diamond jewelry market. By the following year, this figure had crept up to more than 2%. The growth of its market share continued to blaze on and by 2021, it neared 5%, which indicates continued growth in consumer awareness and acceptance of the products. Multiple applications for Lab-Grown Diamond Meanwhile, the use of lab-grown diamonds is not limited to just jewelry alone. The hardness of diamonds makes them an ideal material for cutting, grinding, or drilling other materials. Diamonds are therefore often found on the tips and edges of cutting blades and drills. Apart from that, Lab-grown diamonds are increasingly found in new applications such as optics, lasers, and electronics. Electrical conductivity is typical in materials with high thermal conductivity. In contrast, synthetic diamonds have incredibly high thermal conductivity but very low electrical conductivity. That makes them ideal for use as heat sinks in electronics. This article will highlight how the company will diversify into the lab diamond business. Metech International Limited (SGX: V3M) Listed on the Singapore Stock Exchange, Metech International Limited (&ldquo Metech&rdquo ) has a multi-pronged business model that aligns with the macro trends in the area of environmental and sustainability. While proactively evaluating new business opportunities to broaden its business model, Metech continues to build on its capabilities and extend the value propositions of its business units. Metech has obtained shareholders&rsquo approval for the diversification of its core business to include the manufacturing and distribution of lab-grown diamonds and such other related activities at an extraordinary general meeting held on 11 January 2022. For the trailing 12-month period, Metech&rsquo s revenue increased by 7.3% to S$16.90 million. The increase in revenue was mainly due to the trading sale from its lab-grown diamond segment in December 2021 and the revenue generated from wastewater treatment services segment commenced since September 2021. However, the topline growth was offset by the decrease in revenue from its supply chain management segment. Despite the revenue growth, Metech saw a loss of S$1.26 million in the same period, largely due to the initial setup cost being incurred from its lab-grown diamond segment and wastewater treatment segment. Latest Development Obtaining Exclusive Rights of a Patent to Use and Replicate PECVD Machine, And Technology to Produce High Thermal Conductivity Diamond and Aluminum Composite Materials In the press release dated 27th January 2022, Metech&rsquo s joint venture company, Asian Eco Technology Pte. Ltd. (&ldquo AET&rdquo ) has obtained exclusive rights of a patent to use and replicate the plasma enhanced chemical vapor deposition machine (&ldquo PECVD Machine&rdquo ) for producing low-k dielectric constant materials, and a type of production technology for manufacturing high thermal conductivity diamonds and aluminum composite materials. These materials are used in semiconductor manufacturing. Low-k dielectric material implementation is one of several strategies used to allow continued scaling of microelectronic devices, colloquially referred to as extending Moore' s law. With its unique physical and electrical properties, there is growing interest in diamond for optical and thermal applications, and for new applications in semiconductor devices. Ms. Samantha Hua, Chief Executive Officer and Executive Director of Metech, said: &ldquo With the exclusive rights of this patent, AET can leverage on the PECVD Machine and Technology for the purpose of lab-grown diamonds business and produce low-k dielectric material that is used in semiconductor manufacturing.&rdquo Entry into Non-Binding Term Sheet in Relation to the Acquisition of Finebuild Holdings Pte. Ltd. In another announcement dated 9th June 2022, Metech&rsquo s joint venture company, AET, entered into a non-binding term sheet to acquire the entire issued and paid-up capital of Finebuild Holdings Pte. Ltd. With regards to this latest acquisition, Metech has highlighted that it intends to build and develop manufacturing facilities and/or R& D lab on such Asset as part of its strategy to develop a full-service line and one-stop shop as regards Group&rsquo s Diversified Business, from manufacturing to distributing lab-grown diamonds. Conclusion To summarize, the application for lab-grown diamond has grown beyond just the jewelry market alone. This type of diamond is now commonly used for industrial applications in medical equipment, aerospace, semiconductors, among others. With further R& D down the road, this could help to lower the cost of production and hence allowing more industries to adopt this type of new material, which then will create more demand for lab-grown diamond. Finally, this latest business diversification by Metech will help them to capture the growth in the demand for lab-grown diamond, and potentially assist them in the turnaround in their financial performance in the future. |
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tedlim
Veteran |
20-Jun-2022 06:49
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Why lab grown diamonds are a rage amongst millennials SURYA JAIN New Delhi&ndash The dazzling rise of lab-grown diamonds is certain to entice millenials to abandon conventionally mined diamonds. The big question here is why the shift occurred. What&rsquo s the big deal? There is a lot of uncertainty surrounding the authenticity of a lab-grown diamond in terms of its origin and development. Lab-grown diamonds are created in a lab using cutting-edge technology by replicating the same technology as a mined diamond, and then your stunning lab-grown diamond is created. The technological advances that have led to the creation of lab-grown diamonds have been spectacular in recent years. This has allowed lab-grown diamond entities to produce high-quality diamonds at a low cost. For a variety of environmental and humanitarian reasons, lab-grown diamonds are rapidly gaining popularity among millenials and Gen-Z. According to recent research, 70 percent of millennial-aged consumers prefer lab-grown diamonds for ceremonies and celebrations. Millenials are seen making deliberate efforts to support brands that stand for a cause and are morally just. Lab-grown diamonds are not synthetic or artificial, but rather as genuine and pure as natural diamonds. CVD diamonds are available in an exquisite range of colours and designs, making them an illustrious and enticing choice. So, can we safely twist the adage, &ldquo A lab-grown diamond is a woman&rsquo s best friend?&rdquo The younger generation wishes to free itself from the shackles of misery associated with the sourcing and mining of traditional diamonds. It is not a secret that the world&rsquo s largest corporations engage in practises that exploit communities, workers, and children. The paradox is that diamond miners, who extract the most precious stone from the earth&rsquo s shackles, are among the poorest people on the planet. Isn&rsquo t that reason enough to source your diamonds from a cruelty-free and sustainable source? Because lab-grown diamonds are created in a controlled environment, they have higher purity and quality and fewer defects. Lab-grown diamonds are environmentally friendly, pure, and inexpensive, and most retailers offer a lifetime buyback and exchange policy. The beauty of the younger generation is that they are interested in the journey and process of what they consume. The growing demand for lab-grown diamonds is also due to the fact that acquiring lab-grown diamonds is free of human rights violations. When compared to their counterparts, lab-grown diamonds are more affordable and cost-effective. Lab-grown coloured diamonds can be purchased for a fraction of the price of a naturally coloured diamond, and what&rsquo s more, they appear brighter. Many celebrities are flaunting and promoting synthetic diamonds, which will undoubtedly fuel the trend of lab-grown diamonds among millennials. A lab-grown diamond is aesthetically produced in a variety of shapes, assortments, and colours, which adds to the precious stone&rsquo s elegance and aura. Making environmentally conscious decisions was not popular a few years ago, but it&rsquo s endearing that Gen Z has pioneered by consciously making sustainable choices. As a result, it is not surprising that the diamond industry is rapidly evolving and that the demand for diamonds may undergo significant changes. Almost all retailers now sell lab-grown diamonds, and many high-end brands will do so soon. Natural diamond prices have risen due to a lack of supply, high promotion and maintenance costs, and an increase in gold prices, prompting consumers to seek out eco-friendly and fashionable jewellery. Lab-grown diamonds fit the bill because they are extremely affordable gemstones with exquisite and stylish collections. Large conglomerates such as Pandora, Signet Jewels, Titan Company, and DeBeers have already entered this market. It&rsquo s also encouraging to see startups like Aupulent succeeding solely in the lab-grown segment and carving out a niche with their stylish and bespoke designs. Future consumption of lab-grown diamonds has increased by 55-60% over last year&rsquo s sales and will continue to rise. Furthermore, the coloured lab-grown market is expected to expand at a CAGR of 10.2 percent. The purchaser of a lab-grown diamond does not sacrifice the diamond&rsquo s quality or appearance in exchange for a more environmentally friendly product at a lower cost. Nothing is a better deal than that. According to a recent Forbes study, consumer awareness of environmental and social responsibility has resulted in a significant decline in demand for natural diamonds. The shift in mindset is most noticeable among millennials and Gen-Z consumers, who have aided the growth of the lab-grown industry. This new-age diamond&rsquo s low price, transparency, sustainability, affordability, and appearance will all play a significant role in its increased demand. From April 2021 to January 2022, India saw an increase in lab-grown diamond exports, exporting $1.05 billion in polished lab-grown diamonds. People do not buy diamonds for their monetary value, but rather for emotional reasons. Diamonds are appropriate for any occasion, and the emotional value of purchasing a diamond should not be underestimated. The motivation for purchasing a diamond reflects the beauty and promises timeless bounds, and when emotions are involved, little else matters. |
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WBdisciple
Master |
15-Jun-2022 21:14
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Recap on their recent developments: 2 June 2022: the Group announced that the proposed acquisition of shares in X DIAMOND CAPITAL PTE. LTD. (&ldquo XDC&rdquo ) so that XDC will be an associated company of the Group and that the Group would be able to, amongst others, have more control and manage the development of the lab-grown diamond business. In addition, there are potential synergistic values that can be brought by the addition of XDC&rsquo s business and assets to the Group, which will enhance the Group&rsquo s lab-grown diamond business. 9 June 2022: To further expand its lab-grown diamond business, the Group has signed non-binding term sheet on to acquire a property at Pandan area in Singapore to build and develop manufacturing facilities and/or R& D lab, as part of its strategy to develop a full-service line and one-stop shop for lab-grown diamonds, from manufacturing to distribution. pls do your own DD... |
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tedlim
Veteran |
14-Jun-2022 08:17
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IGI certifies world' s largest Lab Grown Diamond: 30 carats USA - English Jun 09, 2022, 10:00 ET The 30.18 carat ' Pride of India' will be on display at JCK Las Vegas MUMBAI, India, June 9, 2022 /PRNewswire/ -- The International Gemological Institute- IGI, analyzed and graded the ' Pride of India,' a 30.18 carat, laboratory grown diamond, world' s largest post- grown till date. The Emerald cut lab grown diamond from Ethereal Green Diamond LLP is all set to be exhibited at the Venetian JCK Las Vegas show, Nevada, from the 10th to 13th of June, 2022. Pioneer in the laboratory grown diamond certification arena, IGI has been at the forefront developing technology to grade the creation with precision and integrity. Ethereal Green Diamond LLP has been creating pathways to become a leading global producer of large and high-quality lab grown diamonds and thereby creating opportunities in the laboratory grown diamond industry. " Choosing ethically-made, long-lasting items is one of the best actions you can take for our planet and its people," said Hirav Anil Virani, the Managing Director of Ethereal Green Diamond LLP. Grown using the Chemical Vapor Deposition (CVD) process, the ' Pride of India' was graded to have H color, VS2 clarity. The type IIa rough crystal from which it was fashioned took approximately four weeks to grow. " IGI is the largest organization of its kind, having laboratories worldwide, with an impeccable customer driven team and ameliorating technologies & equipment. This gives us the trust and confidence to certify our diamonds at IGI," said Virani who plans on breaking records in creating more such exceptional diamonds. Tehmasp Printer, Managing Director of IGI India, commented on the importance of analysis, transparency and disclosure in the diamond, gemstone, and jewelry industry: " Constant research in developing methods and technology to protect the interest of the end consumer has been the utmost priority at IGI. Our team is continually in search of methods to ensure such spectacular creations are graded with rectitude & precision." IGI also certified a 14.6 carat ' Freedom of India' diamond in August, 2021 grown by Ethereal Green Diamond LLP which was the largest lab-grown diamond at the time. The global lab grown diamonds market size was valued at $19.3 billion in 2020, and is projected to reach $49.9 billion by 2030, registering a CAGR of 9.4% from 2021 to 2030. The CVD segment led in terms of lab grown diamonds market share in 2020 and is expected to retain its dominance throughout the forecast period. |
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For_The_Next_Leg
Veteran |
13-Jun-2022 14:57
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Even LVMH is onboard now. https://www.forbes.com/sites/pamdanziger/2022/06/11/lvmh-makes-it-official-lab-grown-diamonds-are-luxury/?sh=3f093c1052b1 |
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WBdisciple
Master |
13-Jun-2022 11:10
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Found this online: Metech' s JV company, ASIAN ECO TECHNOLOGY PTE.LTD, is participating in North America' s largest jewelry annual trade event: https://lasvegas.jckonline.com/en-us/for-exhibitors/exhibitor-directory/exhibitor-details.org-c7ac655e-49d9-46ca-b517-e573d0769e48.html#/ |
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tedlim
Veteran |
13-Jun-2022 11:03
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https://www.forbes.com/sites/pamdanziger/2022/06/11/lvmh-makes-it-official-lab-grown-diamonds-are-luxury/?sh=47b3b6d252b1
LVMH Makes It Official: Lab-Grown Diamonds Are Luxury Jun 11, 2022,12:25pm EDT
In 2018, the FTC permitted &ldquo a mineral consisting essentially of pure carbon crystallized in the isometric system&rdquo to be described as a &ldquo diamond,&rdquo whether naturally occurring or man-made. Ever since then, the jewelry establishment has been erecting barriers of entry for lab-grown diamonds into their lucrative $84 billion global market.
The Natural Diamond Council established the official party line, declaring &ldquo Crafted by nature over millions of years, natural diamonds are inherently valuable, rare and precious.&rdquo Lab-grown diamonds, by contrast, are cheap manufactured substitutes whose value is &ldquo tied strictly to the cost of production&rdquo and therefore have no lasting value.
With the most to lose, luxury brands, including Bulgari, Cartier and Tiffany (now an LVMH brand), stood firmly behind that barrier and held only natural diamonds were luxury.
But now the walls have been breached with LVMH Luxury Ventures, along with other investors, having completed a $90 million investment round in Israel-based Lusix, a pioneer in the lab-grown diamond (LGD) industry.
Lusix joins MadHappy, Gabriella Hearst, Versed and Stadium Goods in LVMH Luxury Venture&rsquo s portfolio. Its investment priorities are clear: seek out brands at the forefront of emerging trends and innovation in the luxury market.
Specifically, it invests in &ldquo Iconic luxury brands, recognized for their distinctiveness and the quality of their products and services, with significant growth potential.&rdquo
Lusix fits the bill. It is the LGD industry&rsquo s first 100% solar-powered diamond producer with its stones sold under the &ldquo Sun Grown Diamond&rdquo brand. It can grow both clear and custom-colored rough stones in its large-scale reactors and it is one of the industry&rsquo s leading producers of premium-quality diamonds.
&ldquo LVMH&rsquo s investment in the lab space is a statement that lab-growns are going into luxury in a big way,&rdquo shared Marty Hurwitz, founder of The MVEye, a research firm specializing in the jewelry market.
&ldquo Right now demand for lab-grown diamonds is through the roof and the only thing holding it back is supply. LVMH investment in Lusix will give them secure access to premium-quality supply,&rdquo he continued.
Lusix&rsquo s technology edge made it particularly attractive to LVMH. The company was founded by Benny Landa, who made his name advancing digital printing technology with his Indigo Printing Company which was eventually sold to Hewlett-Packard in 2002.
He then formed Landa Group, and under that Landa Labs, to explore nanotechnology research and applications. Lusix was spun-off in 2016 as a separate business headed by Landa and co-founder Dr. Yossi Yayon with a Ph.D. in physics and post-graduate work at the University of California, Berkley.
The $90 million investment will be used to bring a second 100% solar-powered facility online this summer.
Landa said in a statement, &ldquo We are thrilled and proud to welcome such high-profile investors, most notably LVMH Luxury Ventures, bringing their financial support and valuable industry insights. Their help will contribute greatly to our company&rsquo s success while the implications of this investment, both for LUSIX and for the lab-grown diamond segment, are profound &ndash and so exciting!&rdquo
Without a doubt, this is exciting news for the entire lab-grown diamond industry which today is estimated to total just under $6 billion and before this announcement was predicted to double in size by 2025.
With LVMH now giving its official luxury imprimatur to lab-grown diamonds, it is safe to bet it will grow even faster than that.
&ldquo Lusix is going to double its production by 2023 which will accelerate the market even faster,&rdquo Hurwitz shared.
In a final note, Fré dé ric Arnault, LVMH CEO Bernard Arnault&rsquo s 27-year-old son and head of its Tag Heuer brand, was likely instrumental in getting his father to take a closer look at LGDs. Earlier this year, Tag Heuer introduced its first watch featuring lab-grown diamonds at the super-luxury price of $360,000.
&ldquo It&rsquo s not about replacing traditional diamonds with lab-grown diamonds,&rdquo he shared with Vogue Business. &ldquo We use what&rsquo s different and inherent to this technology, allowing us new shapes and textures.&rdquo
Fré dé ric understands what the next-generation luxury consumers want and that is being given the choice between natural diamonds with their attendant environmental challenges and lab-grown diamonds that are renewable and can be produced without the high environmental price tag.
Plus, consumers can get a bigger and often better quality stone at a lower price. That&rsquo s the kind of choice everyone wants.
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Joelton
Supreme |
24-May-2022 08:58
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Metech disposes of wastewater management subsidiary
CATALIST-listed Metech : V3M 0% is disposing of its wastewater management subsidiary to focus on its lab-grown diamond business for S$618,000.
Its 60 per cent stake in Blufu Water (Xinmin) will be sold to the other shareholder Wang Daming who owns the remaining 40 per cent stake. Metech had originally purchased the 60 per cent stage at S$516,440 on Sept 21, 2021.
Blufu Water is involved in managing wastewater treatment plants owned by the government. With no plans to allocate resources to expand the wastewater business, the disposal will allow Metech to focus on its lab-growth diamond business and will not record a gain or loss on the disposal.
The disposal would increase Metech&rsquo s net tangible asset per share from S$0.0728 to S$0.0760 based on the consolidated financial statements for 6 months ended Dec 31, 2021. Loss per share would have also widened to S$0.09 from S$0.083 based on the same financial statements.
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