GradingApr 10, 2023
GIA Is Going Back to Paper ReportsGradingMay 22, 2023
Blackstone Officially Inks Deal to Acquire IGI
Blackstone is buying the 80 percent stake in the lab owned by a Chinese company as well as the 20 percent held by the Lorie family.
Private equity firm Blackstone has acquired the International Gemological Institute, which operates 29 grading labs and 18 gemology schools across 10 countries.
New York—Private equity giant Blackstone has acquired the International Gemological Institute, the two companies confirmed Sunday in a joint announcement.
The purchase price was $569.7 million, according to a separate statement issued by the lab’s majority owner, a Fosun subsidiary.
Blackstone purchased the grading lab from Shanghai Yuyuan Tourist Mart (Group) Co. Ltd., a subsidiary of Chinese conglomerate Fosun, and Roland Lorie, IGI’s CEO and a member of the founding family.
Fosun acquired an 80 percent stake in the business in 2018, while the remaining 20 percent stayed with its founders, the Belgium-based Lorie family.
The family founded IGI in Antwerp in 1975. It now operates 29 grading labs and 18 gemology schools across 10 countries.
Rumors that Fosun, which is working to reduce debt, wanted to offload its stake in the business first began circulating in January.
Lorie said, “IGI has had a successful track record for close to 50 years since we founded the company, and we are pleased to entrust Blackstone to take IGI on to its next stage of development.
“Under the patronage of Blackstone, we intend to get even closer to the consumer and to grow the business exponentially. The company’s management team is excited to welcome Blackstone and further cement and build upon our market-leading position with the help of Blackstone’s scale, expertise and global network.”
Lorie will remain CEO, he said, while the management team and its nearly 1,000 employees also will remain in place.
Haide Hong, a senior managing director in Blackstone Private Equity Group, said the company has been impressed by IGI’s development under its current management.
“With its strong brand and reputation of upholding the highest standards of quality and authenticity, IGI is well-positioned to benefit from the increasing popularity of gemology,” Hong said.
The acquisition news follows other recent mergers and acquisitions among the industry’s grading labs.
Earlier this month, Israel-based equipment and technology company Sarine completed its acquisition of a majority stake in the Gem Certification and Assurance Laboratory (GCAL), founded by Don and Pamela Palmieri in 2001.
In October 2022, 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.
Related stories will be right here …
The purchase price was $569.7 million, according to a separate statement issued by the lab’s majority owner, a Fosun subsidiary.
Blackstone purchased the grading lab from Shanghai Yuyuan Tourist Mart (Group) Co. Ltd., a subsidiary of Chinese conglomerate Fosun, and Roland Lorie, IGI’s CEO and a member of the founding family.
Fosun acquired an 80 percent stake in the business in 2018, while the remaining 20 percent stayed with its founders, the Belgium-based Lorie family.
The family founded IGI in Antwerp in 1975. It now operates 29 grading labs and 18 gemology schools across 10 countries.
Rumors that Fosun, which is working to reduce debt, wanted to offload its stake in the business first began circulating in January.
Lorie said, “IGI has had a successful track record for close to 50 years since we founded the company, and we are pleased to entrust Blackstone to take IGI on to its next stage of development.
“Under the patronage of Blackstone, we intend to get even closer to the consumer and to grow the business exponentially. The company’s management team is excited to welcome Blackstone and further cement and build upon our market-leading position with the help of Blackstone’s scale, expertise and global network.”
Lorie will remain CEO, he said, while the management team and its nearly 1,000 employees also will remain in place.
Haide Hong, a senior managing director in Blackstone Private Equity Group, said the company has been impressed by IGI’s development under its current management.
“With its strong brand and reputation of upholding the highest standards of quality and authenticity, IGI is well-positioned to benefit from the increasing popularity of gemology,” Hong said.
The acquisition news follows other recent mergers and acquisitions among the industry’s grading labs.
Earlier this month, Israel-based equipment and technology company Sarine completed its acquisition of a majority stake in the Gem Certification and Assurance Laboratory (GCAL), founded by Don and Pamela Palmieri in 2001.
In October 2022, 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.
More on Grading
The Latest
MajorsApr 07, 2026
QVC Group’s Latest Filing Calls Its Future Into QuestionThe retailer failed to file its annual report on time and said it may issue a going concern warning.
ColumnistsApr 07, 2026
Peter Smith: A Tip to the Post Office on Workplace CultureSmith recounts a recent trip to the post office that included an uncomfortable, embarrassing, and public exchange between two employees.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
MajorsApr 06, 2026
Kecia Caffie, Corinne Bentzen No Longer With Signet JewelersSignet confirmed that Caffie, president of Zales and Banter, and Bentzen, who headed Blue Nile, have left the company.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
SourcingApr 06, 2026
Gemfields Reports $51M Loss in 2025Both its mines faced challenges last year, from operational issues to disruptions in the market.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
