Lucara Sells Clara to Its Original Founders
CEO William Lamb said divesting the diamond sales platform allows the company to focus on the underground expansion of Karowe.

Clara Diamond Solutions is a technology-led platform that utilizes proprietary analytics, as well as cloud and blockchain technologies, to sell rough diamonds to customers one-by-one based on their needs, rather than in assortments that may contain stones they cannot use.
It was designed to streamline the supply chain and make it more efficient, and also allows buyers to be able to trace diamonds back to their source.
Lucara originally acquired Clara from its founders in 2018 for an up-front consideration of 13.1 million shares of Lucara (then worth about $29 million).
The company also agreed to a profit-sharing mechanism whereby the technology’s founders received a percentage of the annual EBITDA generated by Clara every years for 10 years.
As of Oct. 4, Lucara is divesting 100 percent of its interest in Clara to a group led by Vancouver-based diamond manufacturer HRA Group and Eira Thomas.
Thomas served as Lucara’s CEO from February 2018 to August 2023, when the company reinstated William Lamb as CEO.
Under the terms of the sale agreement, the founders will acquire Lucara’s interests in Clara Diamond Solutions GP Inc., Clara Diamond Solutions Limited Partnership, and Clara Diamond Solutions B.V., including all intellectual property rights, commercial contracts, and operating assets.
The founders will pay $3 million cash at closing for Clara plus the return of what amounts to 13.4 million shares of Lucara.
Lucara will retain a 3 percent net profit interest on Clara’s net earnings.
The mining company also has granted Clara a five-year rough diamond supply agreement for stones meeting the size and quality specifications for diamonds traditionally sold through the Clara platform.
The agreement can be terminated after its second anniversary, or at any time that both parties agree to do so.
The sale is subject to customary closing conditions and amendments.
Lamb said selling Clara allows Lucara to focus on the Karowe Diamond Mine in Botswana, its one active diamond mine.
“The company’s core competencies and future growth reside in the successful execution of the Karowe underground expansion project. While the Clara platform provides an innovative digital channel for rough diamond sales, the successful onboarding of other producers’ rough production required to scale the platform remains unattainable while the platform is owned by a pure-play diamond producer,” he said.
“Lucara maintains its conviction, reinforced by our supply agreement with Clara, that this technology will play an important role in the shaping of a demand-driven diamond sector.”
Aaron Ariel, who co-founded Clara alongside Ophir Stolov and is currently HRA Group’s vice president of operations and strategy, said they cannot wait to work with the Clara team on taking the platform “to the next level.”
“Nine years ago, while at our factory sorting through a mountain of rough diamonds—many of which we didn’t need but were required purchases, bundled inseparably with product needed to fulfill urgent orders—we had a big idea for a technology that could transform the global rough diamond market for everyone,” he said.
“Today, we are excited about the opportunity to realize its full potential, which remains largely unexplored.”
The Latest

Sponsored by the Gemological Institute of America

The 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.

The West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.


JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

The new location continues the brand’s celebration of its 25th anniversary.

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

“The Jewelry Book” comes out this September.

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.