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

The company also noted record sales in the United States and a strong performance in its jewelry category.

After the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.

The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

The rapper and singer-songwriter will perform at Tao Beach on June 8.


“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.

As lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.

Emergencies can happen anytime, anywhere , and Jewelers of America has what you need to be prepared for it all.

The moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.

The “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.

Breitling is reviving Gallet, which was founded in 1826 and is known for making watches used in the early days of long-distance travel.

Dubbed the “Mediterranean Blue,” this “remarkably rare” diamond will be part of Sotheby’s May jewelry auction in Geneva.

The American Gem Society now offers a Jewelry Evaluation Advisor designation as well as an updated Certified Sales Associate designation.

Rebecca Zeijdel-Paz created more than 75 new pieces for the residency, which will be on display at Trove’s store in New York through April.

Smith explores why a qualified candidate might still not be right for the job.

The company and its marketing agency, Loudr, were recognized for the “Make You Dance” marketing campaign.

The “Series8” and “Attesa” collections will be grouped under Citizen Premier.

David Fager, a former systems engineer at the retailer, was promoted to the role.

From retailers to designers and the media, the fine jewelry industry recognized one another’s work and looked to the future.

Eleanor H. Yeh is the recipient of the eighth annual Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.

Joseph Cavalcante takes on the dual role as the Spanish jewelry brand looks to expand further into the U.S. market.

The trade show has also upgraded its venue to the Caesars Forum Conference Center.

The Dayton-based jeweler, which has been in business since 1985, was formerly known as Stafford Jewelers.

Reeds Jewelers CEO Alan Zimmer will be presented with the honor at JVC’s annual luncheon.

The piece, celebrating birthdays from March 21 to April 19, debuted with Sorellina’s new line of astrological pendants.

The Indian jewelry brand recently opened stores in Atlanta and Seattle.

CEO Beth Gerstein shared its most popular price points, what’s trending in non-bridal fine jewelry, and its holiday performance.