The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
Lab-Grown E-Tailer Ada Diamonds Opens NY Showroom
The California-based company is planning to open another location in Los Angeles by 2020.

New York—San Francisco-based lab-grown diamond company Ada Diamonds is heading to New York, opening a second showroom for private clients in Manhattan.
According to a press release from the company, the showroom will be located inside the Elizabeth Collective, a self-described creative hub in Midtown Manhattan located in a former home of actress, and diamond lover, Elizabeth Taylor. (Per the New York Post, Taylor lived there with husband Mike Todd.)
The townhouse, located at 10 West 56th St. and reportedly owned by Mexican billionaire Carlos Slim, has a pop-up event area and permanent studio workspaces.
"When it came time to select a location for our second showroom, we knew it had to be New York ,” co-founder Lindsay Reinsmith said in the statement. “Now clients from around the world can enjoy the Ada Diamonds luxury client experience with the convenience of a Manhattan location.”
Founded by Reinsmith and her husband, Jason Payne, the company says it is “not just a jeweler, but rather a Silicon Valley start-up.”
The company was named after August Ada King, the Countess of Lovelace and a renowned 19th-century mathematician and socialite.
The New York showroom will feature pieces from the brand’s Delicate and Classics collections, including stud earrings, tennis bracelets, necklaces, as well as pieces from its fashion jewelry collections, a company spokesperson said.
The retail price range of the Delicate Collections is $350-$500. In the Classics Collection, stud earrings start at $1,000 while tennis bracelets start at $3,500.
A limited number of ready-to-wear bridal pieces, including engagement rings and weddings bands, will be on display at the showroom as well.
Some pieces will be available for purchase there, while others will still have to be bought online.
Ada Diamonds said in 2020, it plans to expand its flagship San Francisco location and open a third showroom, in Los Angeles.
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