Lab-Grown

Adamas One to Buy Lab-Grown Diamond Manufacturer

Lab-GrownAug 09, 2023

Adamas One to Buy Lab-Grown Diamond Manufacturer

The South Carolina-based company wants to acquire the production and manufacturing capabilities of India’s Flawless Allure Grown Diamonds.

 Loose diamonds stock photo
Lab-grown diamond company Adamas One (formerly Apollo Diamond Corp.) has entered into a letter of intent to purchase India-based lab-grown diamond manufacturer Flawless Allure Grown Diamonds.
Scottsdale, Ariz.—Adamas One Corp. has announced plans to acquire India-based lab-grown diamond manufacturer Flawless Allure Grown Diamonds LLP.  

This week, the company entered into a non-binding letter of intent (LOI) regarding the purchase.  

The LOI is subject to due diligence, confirmations within industry standards and approval by Adamas One’s board of directors. 

Financial terms of the deal were not disclosed. 

In the acquisition, Adamas One will gain control over Flawless Allure’s diamond production, as well as its cutting and polishing capabilities.  

“This acquisition will solidify our position as a leader in the lab-grown diamond industry based on our capabilities to vertically integrate, produce and market lab-grown diamonds,” Adamas One CEO Jay Grdina said.  

“Our goal has been to complete our ecosystem and become as self-sufficient as possible, and the acquisition of Flawless, one of the top diamond cutters and polishers in the industry, completes our ability to control our end-to-end production, speed of production and time-to-marketing. This transaction represents a significant step in the execution of our strategy to ensure that we are well positioned in the market, with minimal to no shareholder dilution.” 

 Related stories will be right here … 

Adamas’ facilities are in Greenville, South Carolina. The company currently holds 36 patents and says it uses a proprietary chemical vapor deposition (CVD) process to grow diamonds. 

In 2018, the company purchased all assets of Greenville-based Scio Diamond, which went public in 2011 but ran out of money.  

Scio was formerly known as Apollo Diamond Corp., the Boston company founded in 1990.  

The Latest

National Jeweler columnist Peter Smith
ColumnistsJan 21, 2025
Peter Smith: Sales Training’s Dirty Little Secret

Peter Smith pulls back the curtain on the often misinterpreted, and sometimes maligned, world of sales training.

Lord Jewelry brown and white diamond ring
TrendsJan 21, 2025
Amanda’s Style File: Decadent Mocha Mousse

Pantone’s 2025 Color of the Year takes the form of jewelry through gemstones and enamel that look just as delicious as mocha mousse.

Charms from designer Jenna Blake
Policies & IssuesJan 21, 2025
These Designers and Retailers Are Raising Money for LA Wildfire Relief

From raffles to auctions to donations, the industry is working to aid charities in Los Angeles amid the raging wildfires.

Resolutions - 2025.jpg
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers

The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.

Diamonds Do Good
SourcingJan 21, 2025
Diamonds Do Good Adds 2 Board Members

Julia Hackman Chafé and Monica Elias have joined the organization’s board of directors.

Weekly QuizJan 16, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Bucellati necklaces
FinancialsJan 17, 2025
Richemont’s Jewelry Sales Rise 14% in Holiday Quarter

The company, which owns Cartier and Van Cleef & Arpels, had a record Q3, with sales topping $6 billion.

Picchiotti Classic Blue and Green Necklace
CollectionsJan 17, 2025
Piece of the Week: Picchiotti’s Transformable ‘Classic Blue and Green’ Necklace

The necklace features a sapphire drop weighing more than 9 carats that detaches to transform into a ring.

ride_or_die_1872x1052.png
Brought to you by
A Diamond Is Forever Celebrates "Forever Present" Holiday Campaign

A Diamond is Forever hosted a holiday celebration in honor of their new marketing campaign, ‘Forever Present.’

Jameel Mohammed
MajorsJan 17, 2025
Tiffany & Co., CFDA Name First Winner of Jewelry Designer Award

Jameel Mohammed, founder of Afrofuturist brand Khiry, will receive a cash prize and a one-year paid fellowship with Tiffany & Co.

Gold jewelry boxes with Lux Bond & Green logo
IndependentsJan 16, 2025
Lux Bond & Green to Open Sixth Location

The 127-year-old jeweler is planning to open a new store in Mystic, Connecticut.

Timex National Park Collection
WatchesJan 16, 2025
Timex Launches Collection of National Park Watches

The watches’ dials feature artwork celebrating the vibrant energy and unique landscapes of six of America’s national parks.

Elizabeth Taylor diamond line bracelet
AuctionsJan 16, 2025
Elizabeth Taylor’s Diamond Line Bracelet Going up for Auction

Offered by U.K. auction house Woolley & Wallis, the yellow diamond bracelet was a gift from Taylor’s good friend Michael Jackson.

JCK open registration graphic
Events & AwardsJan 16, 2025
JCK Las Vegas 2025 Open for Registration

The jewelry trade show returns to The Venetian Expo and The Venetian Resort in Las Vegas from June 6 to 9.

Iris Apfel
EditorsJan 15, 2025
The Jewelry I’d Bid On in Christie’s Iris Apfel Auction

Associate Editor Natalie Francisco highlights her favorite fashion jewelry pieces from the upcoming “Unapologetically Iris” auction.

Macy’s Herald Square New York City store
MajorsJan 15, 2025
Macy’s to Close 66 Stores as Part of Turnaround Strategy

The closures are part of the retailer’s plan to close 150 locations over a three-year period.

Jewelers Vigilance Committee Americans with Disabilities Act guide cover
Policies & IssuesJan 15, 2025
JVC Debuts Guide to Americans with Disabilities Act Compliance

The online guide is available for free and written with the jewelry industry in mind.

Jose Hess Design Award Trophy
Events & AwardsJan 15, 2025
Jose Hess Design Awards Open for Submissions

The awards honor the late Jose Hess, a founding member of AJDC and an award-winning jewelry designer.

Susan Jacques
GradingJan 14, 2025
GIA CEO, President Susan Jacques to Retire at the End of 2025

The grading lab said the search for her successor is underway.

Jewelry designer and National Jeweler guest columnist Jules Kim
ColumnistsJan 14, 2025
Jules Kim: Building Bridges Between Creators and Industry

In this special op-ed, designer Jules Kim calls on big brands to collaborate with independent creators instead of copying their designs.

Henry A. Hänni
GradingJan 14, 2025
Former SSEF Director Henry A. Hänni Dies

A pioneering figure in gemology, he is remembered for his spirit of generosity, curiosity, and joy.

Woman wearing rings on both hands
FinancialsJan 14, 2025
Signet Jewelers Lowers Q4 Guidance After Holiday Sales Fall Short

The peak selling days leading up to Christmas did not meet the jewelry retailer’s expectations.

Edouard Schneider
MajorsJan 14, 2025
Edouard Schneider Joins Messika as Chief Brand Officer

Schneider brings over 20 years of luxury and fashion industry experience to his role as a key member of the brand’s global leadership team.

Gemfields emeralds
SourcingJan 13, 2025
Zambia Reinstates 15% Export Duty on Precious Gemstones, Shocking Gemfields

Gemfields said the Zambian government revoked the 2019 suspension of the tax with no warning.

Woman’s silhouette with smart ring on finger
TechnologyJan 13, 2025
Ultrahuman Unveils Luxury Smart Ring

With versions in 18-karat gold and platinum, the wearables company is blending health technology and fine jewelry.

Brandee Dallow
Policies & IssuesJan 13, 2025
Brandee Dallow Elected President of Ethical Metalsmiths

The executive brings more than two decades of industry experience to the role.

Camille Zarsky and curated necklaces
IndependentsJan 13, 2025
The Seven Pops Up in Palm Beach

The New York City-based retailer is bringing its curation of jewels to a pop-up shop at Love Binetti in Palm Beach, Florida.

Jewelers Relief Fund logo
Policies & IssuesJan 10, 2025
Jewelers Relief Fund Reopened to Aid Victims of LA Fires

Created by JA and DCA, the fund is collecting money for jewelry businesses damaged by the wildfires in Los Angeles County.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy