SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeSourcingOct 10, 2024
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.
The 1,094-carat rough diamond recovered from Lucara Diamond Corp.’s Karowe mine in Botswana last month. The diamond mining company has sold its rough diamond sales platform, called Clara, to the group that founded it almost a decade ago.
Vancouver, British Columbia—Lucara Diamond Corp. announced this week that it is selling its rough diamond sales platform back to its founders, a group that includes the mining company’s former CEO.
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.
Related stories will be right here …
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.”
More on Sourcing
The Latest
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
FinancialsMay 06, 2026
Pandora to Add Carbon Footprint Info to Lab-Grown DiamondsThe company announced the change alongside its Q1 results, which showed that the jewelry brand’s year is off to a shaky start.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
CrimeApr 30, 2026
Masked Group Uses Hammers, Pepper Spray in Texas Jewelry Store RobberyOfficials are looking for a group that robbed Marc Robinson Jewelers at an outlet mall in Round Rock, Texas, in broad daylight on April 21.
Supplier BulletinApr 30, 2026
OROAREZZO 2026: The B2B Event for Italian Excellence in Goldsmith, Jewelry and Silver ManufacturingSponsored by OROAREZZO International Jewelry Exhibition
TechnologyApr 29, 2026
The Thought Process Behind the Mother's Day Email Opt-OutSome retailers are taking a nuanced approach to marketing what can be a difficult holiday for many.
IndependentsApr 29, 2026
Dick Abbott to Retire From The EdgeThe Edge has announced its new CEO, as well as a new partnership with an investment firm focused on founder-led software businesses.
