Gemologists have long used machines in diamond grading but technology has made it possible for them to “learn” how to do it on their own.
Blackstone is buying the 80 percent stake in the lab owned by a Chinese company as well as the 20 percent held by the Lorie family.
The deal could be signed as early as this weekend, according to a report by The Economic Times.
The company reported record sales, driven by desire for classic lines like Cartier “Panthère” and “Alhambra” from Van Cleef & Arpels.
The new corporation, GCAL USA LLC, will be part of the Sarine Group and its grading reports will read “GCAL by Sarine.”
Gismondi 1754 now owns Vendorafa’s fine jewelry brand while LVMH retains its manufacturing division.
The news came as the diamond manufacturer officially opened a new factory in Gaborone, its first outside Antwerp.
Burgundy has opted not to exercise its option to buy the mining claims Gibb River Diamonds currently owns.
Australian mining company Burgundy Diamond Mines announced plans to buy the mine in a deal valued at $136 million.
Epiris reportedly is in the early stages of gauging market interest in the auction house, which it acquired in 2018.
Herco President Reuven Itelman is retiring and selling the company, which will relocate to Ohio from California.
The company that owns an 80 percent stake in the Antwerp-based lab reportedly believes it is worth more than $200 million.
The acquisition allows GCAL to expand overseas while giving Sarine a “recognized and respected” channel for offering eGrading in the U.S.
In the final “My Next Question” of 2022, National Jeweler’s editors discuss the year’s top stories and reveal their predictions for 2023.
The strategic acquisition will bolster the luxury titan’s production capacity in its watch and jewelry division.
Intercept Silver & Jewelry Care distributes anti-corrosion and anti-tarnish products.
The jewelry wholesaler and distributor plans to enter the public market through a merger with Tastemaker Acquisition Corp., a SPAC.
CEO Katherine Bodoh said the merger will allow AGS to focus on its “original vision” as a trade organization and grow Conclave.
Founded in 1947, the store is Palm Desert, California’s only official retailer for Rolex, Patek Philippe, and Tudor.
Toomey & Co. will keep its name but relocate from the Illinois suburb of Oak Park to Rago/Wright’s Chicago headquarters.
The jewelry giant has purchased Blue Nile for $360 million in cash as it looks to draw in younger, richer tech-savvy consumers.
Here’s why one analyst called it the best deal Signet has done in decades as well as thoughts on the company “getting too big.”
The jewelry giant said the acquisition will allow it to tap into a pool of customers who are younger, more affluent and ethnically diverse.
It is the fifth acquisition under the ownership of private equity firm Epiris, which bought Bonhams in 2018.
It is merging with a special purpose acquisition company called Mudrick Capital Acquisition Corporation II.