Fenix Diamonds and Dholakia Lab-Grown Diamond, two leading players in the lab-grown diamond industry based in New York, have announced a strategic partnership to acquire Israeli diamond grower Lusix in a $4 million deal.<\/p>\n
Lusix, founded in 2016 by Benny Landa, has been at the forefront of lab-grown diamond technology, with over $152 million invested in research and development. The acquisition by Fenix and Dholakia aims to leverage Lusix’s advanced technology and expand production capacity to meet the growing global demand for lab-grown diamonds.<\/p>\n
Both companies have committed to retaining Lusix’s talented team and preserving its innovative spirit. By combining their strengths, Fenix and Dholakia aim to drive advancements in lab-grown diamond technology, reduce production costs, and offer consumers a wider range of high-quality, sustainable diamonds.<\/p>\n
\u201cFenix Diamonds is committed to delivering affordable, ethical, and sustainable lab grown diamonds to a global customer base. The technological advancements that the Lusix acquisition brings aligns with our vision of remaining at the forefront of innovation. We want to offer our customers greater value through larger diamonds in a cost-effective manner,\u201d said Fenix Diamonds Managing Director Naman Parikh.<\/p>\n
Hasu Dholakia of Dholakia Lab-Grown Diamond highlighted the acquisition’s alignment with their vision for long-term growth. A recent Bain & Co. report states, the lab-grown diamond market is expected to grow to $29 billion by 2028. \u201cAdding Lusix to our portfolio will help us expand production capacity and push the boundaries of innovation within our field, providing the foundation for new products and technologies,\u201d he remarked.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fenix Diamonds and Dholakia Lab-Grown Diamond, two leading players in the lab-grown diamond industry based in New York, have announced a strategic partnership to acquire Israeli diamond grower Lusix in a $4 million deal. Lusix, founded in 2016 by Benny Landa, has been at the forefront of lab-grown diamond technology, with over $152 million invested…<\/p>\n","protected":false},"author":1,"featured_media":28612,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-28611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n