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Custom Lab Grown Diamonds Add a New Dimension to the Industry

19.01.2023 - 15:03:50

Custom Lab Grown Diamonds Add a New Dimension to the Industry. FinancialBuzz.com United States of America United Kingdom New York

on August 9th that it has signed a definitive agreement to acquire Blue Nile, Inc., a leading online retailer of engagement rings and fine jewelry, for $360 million in an all-cash transaction. Blue Nile delivered revenue of more than $500 million in calendar year 2021. The strategic acquisition of Blue Nile accelerates Signet's efforts to expand its bridal offerings and grow its Accessible Luxury portfolio while extending its digital leadership in the jewelry category – all to further enhance shopping experiences for consumers and create value for shareholders. Blue Nile brings an attractive customer demographic that is younger, more affluent, and ethnically diverse which will broaden our customer acquisition funnel. Upon closing, Blue Nile will be strategically positioned at the top tier of Signet's Accessible Luxury banners along with Jared, James Allen and Diamonds Direct.

Rio Tinto Group (NYSE: RIO) produces full spectrum of diamonds in terms of qualities, sizes and colors. The Company's Diavik mine, for example, produces a high proportion of large, white, gem-quality diamonds, traditionally associated with engagement rings, luxury jewelry and collector pieces. The company has partnered with leading international organizations to ensure the integrity and reliability of the wider diamond industry too. We were a founding member and the first mining company to be certified by the Responsible Jewelry Council, which promotes responsible, ethical, social and environmental practices throughout the diamond, gold and platinum jewelry supply chain.

Anglo American plc (OTCQX: NGLOY) announced back in December the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers' tenth sales cycle of 2022, amounting to $410 million. Bruce Cleaver, CEO, De Beers Group, said: "Demand for our rough diamonds over the final sales cycle of 2022 was in line with expectations, ahead of the normal seasonal closure of polishing factories in southern Africa over the Christmas period and with Sightholders taking a prudent approach ahead of restocking after Christmas and the expected re-opening of the China market."

Movado Group, Inc. (NYSE: MOV) designs, sources, markets, and distributes watches worldwide. One of the Company's collections powered by Swiss self-winding movements, the 1881 Automatic collection features contemporary designs that reflect the brand's proud Swiss heritage in mechanical timekeeping. Exclusively for women, the elegant new Aria, in white ceramic and stainless steel illuminated by diamonds, redefines sport-chic with brilliant simplicity. The futuristic Sapphire family with its signature flat, edge-to-edge crystal introduces four men's models – two on straps and two on a new, thinner "freefalling" bracelet design.

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