GradingJan 13, 2023
Sarine To Acquire Majority Stake in GCAL GradingJan 17, 2023
IGI CEO Confirms Report of Potential Sale
The company that owns an 80 percent stake in the Antwerp-based lab reportedly believes it is worth more than $200 million.
Bloomberg reported last week that Fosun International Ltd. is considering selling the International Gemological Institute. Fosun has owned an 80 percent stake in the lab for about five years.
New York—Chinese conglomerate Fosun International Ltd. is considering selling its stake in the International Gemological Institute.
Bloomberg first reported the news last Thursday and IGI CEO Roland Lorie confirmed the report to National Jeweler via email on Friday, stating that news of the potential sale is evidence of the lab’s strength.
“IGI’s primary goal is to provide proper information and education to the public and we are happy to see many potential investors are sharing this view,” Lorie wrote.
“After several fruitful years of growth and excellence alongside the diamond industry, the shareholders believe IGI is to enter a new growth phase and are currently reviewing candidate investors to further grow the company vision.”
He added IGI “is and remains” an “independent expertise company” headed by himself and the lab’s managers worldwide.
Citing unnamed sources, Bloomberg said the deal valued the Antwerp-based grading lab at about 200 million Euros ($215 million).
Its potential sale is part of a broader effort by Fosun to strengthen its balance sheet by offloading as much as $11 billion in assets in the coming year, the media outlet reported.
Shanghai Yuyuan Tourist Mart Co. is the unit of Fosun that owns a stake in IGI. It bought the grading lab from shareholders Roland Lorie and Marc Brauner for $108.8 million in a deal announced in 2018.
The Lorie family, which founded the lab, retained the remaining 20 percent, with Roland staying on as CEO. Brauner and his eldest son, Youry Brauner, resigned at the time of the acquisition.
Avi Levy currently oversees IGI in the U.S. market as president of IGI North America.
Fosun is working with Deutsche Bank AG on the potential sale of the lab, according to Bloomberg.
News of the potential sale of IGI comes on the heels of two other major developments concerning the industry’s grading labs.
In October, the American Gem Society announced it would close AGS Laboratories at the end of 2022 and merge its operations with the Gemological Institute of America.
Just last week, news broke that Israel-based equipment and technology company Sarine is planning to buy a majority stake in the Gem Certification and Assurance Laboratory (GCAL), the operation Don and Pamela Palmieri opened in 2001.
More on Grading
The Latest
SourcingSep 04, 2025
Lucara Unveils Unusual 37-Carat Pink DiamondThe Type IIa stone, recovered from Botswana’s Karowe diamond mine last month, features unique coloration.
Events & AwardsSep 04, 2025
27 Can’t-Miss Converge Sessions, Events From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
WatchesSep 04, 2025
Breitling Takes Its NFL Game to the Next Level Breitling is now the NFL’s official timepiece partner, a move that puts the brand in front of the millions of Americans who watch football.
Weekly QuizAug 29, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsSep 04, 2025
The NYC Jewelry, Antique, & Object Show Returns in NovemberNYCJAOS is set for Nov. 21-23 in New York City’s Chelsea neighborhood.
SourcingSep 03, 2025
Gemfields Confirms Completion of Fabergé SaleU.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
MajorsSep 03, 2025
These Are the Nearly 300 Claire’s Stores Set to CloseA new court filing details the locations of the stores that will close, as well as the 830 that will remain open.
MajorsSep 03, 2025
Stuller Releases 2 New Catalogs The new catalogs are “Tools, Equipment, & Metals” and “Findings & Metals.”
TrendsSep 03, 2025
Amanda’s Style File: A Perfect BirthstoneSapphire’s variety of colors make it the perfect birthstone for September.
FinancialsSep 02, 2025
Lab-Grown Diamonds, Lower-Priced Fashion Jewelry Drive Signet Jewelers’ Q2 SalesThe retailer has raised its guidance after seeing total sales increase 3 percent in the second quarter, beating expectations.
MajorsSep 02, 2025
Birks CEO Jean-Christophe Bédos Steps DownNiccolò Rossi di Montelera, executive chairman of the board, was appointed as interim CEO.
MajorsSep 02, 2025
Harry Winston Opens Its Largest Flagship in JapanThe three-floor space also features the jeweler’s largest VIP salon in Japan and offers an exclusive diamond pendant.
CollectionsSep 02, 2025
Stephanie Gottlieb Debuts Silver Designs in ‘All Hours’ CollabThe collection is a collaboration between Stephanie Gottlieb Fine Jewelry and Oak and Luna, focusing on understated essentials.
AuctionsAug 29, 2025
Sotheby’s UAE Sale to Feature 32-Carat Fancy Vivid Orangy Pink DiamondThe highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.
FinancialsAug 29, 2025
Movado’s Q2 Sales Rebound Despite Tariff ImpactCEO Efraim Grinberg noted a resurgence in the fashion watch market.
CollectionsAug 29, 2025
Piece of the Week: Mark Davis’ ‘Bullseye’ Necklace The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.
Supplier BulletinAug 28, 2025
Clientbook Is Helping Jewelers Turn Clienteling Challenges into Wins with Hands-On Training and CoachingSponsored by Clientbook
SourcingAug 28, 2025
Botswana Declares Public Health Emergency Amid Diamond Sales SlumpPresident Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.
MajorsAug 28, 2025
Borsheims Names New Jewelry BuyerFormer Free People buyer Afton Robertson-Kanne recently joined the retailer.
IndependentsAug 28, 2025
Sissy’s Log Cabin Donates School Supplies to Memphis StudentsThe jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.
EditorsAug 27, 2025
Taylor Swift’s Engagement Ring Is a Fairy Tale for Vintage Diamond CutsThe singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.
SourcingAug 27, 2025
11,685-Carat Emerald Recovered From Zambia’s Kagem MineDubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.
SurveysAug 27, 2025
Consumer Confidence Slips in August Amid Job, Income WorriesPlans for dining out, booking vacations, and buying big-ticket items were down.
CollectionsAug 27, 2025
Mined + Found’s New Collection Gets Playful The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.
CollectionsAug 26, 2025
Does Your Jewelry Stack Need a Snack?Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.
