Leonardo DiCaprio-backed Diamond Foundry collaborates with UAE-based Etika Jewels
While lab-grown diamonds have been in use since the 1950s, its impurities have kept them away from the fine jewellery market. However, this trend is changing as technology is making lab-grown diamonds almost indistinguishable from real carved diamonds.
UAE-based Etika Jewels has collaborated with Diamond Foundry, a California-based manufacturer which is backed by Hollywood star Leonardo DiCaprio. Etika said the partnership will help it offer carbon-neutral lab-grown diamonds besides its existing lab-grown diamond collection.
This new range of diamonds would be manufactured in the US, as per a report by Fast Company.
Etika Jewels was founded by Basma Chaieri in 2022 to promote sustainable jewellery in the region. She aims to bridge the gap between luxury and sustainability with the help of technology.
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Diamond Foundry was founded by Martin Roscheisen and Jeremy Scholz in 2012, and has raised funding from big names like Google, Sun Microsystems, iPod creator Tony Fadell, Twitter Co-founder Evan Williams, and Leonardo DiCaprio.
While lab-grown diamonds have been in use since the 1950s; its impurities have kept them away from the fine jewellery market. However, this trend is changing as technology is making lab-grown diamonds almost indistinguishable from real carved diamonds.
The global lab-grown diamonds market size is projected to reach $49.9 billion by 2030, registering a compound annual growth rate (CAGR) of 9.4% from 2021 to 2030, as per a report by Allied Market Research.
Disclaimer: This story has been updated to change the feature image.
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Edited by Akanksha Sarma
