KARIA DIAMONDS LAUNCHES ETHICALLY SOURCED LAB GROWN DIAMOND JEWELRY LINE IN AN INDUSTRY SET TO GROW TO $45.10 BILLION BY 2030
Emerging Brand Empowers Discerning Consumers as they Turn Away from “Blood Diamonds” and Seek Ethical Jewelry
BOSTON, MA – April 9, 2024 – Karia Diamonds, Inc. announces its launch in the US market responding to high consumer demand for lab grown diamonds (LGD). The emerging brand designs fashion jewelry, engagement rings, and custom pieces featuring high quality, sustainable and ethically sourced lab grown diamonds. Discerning consumers are now turning away from “blood diamonds,” that are sold to finance armed conflicts and associated with forced labor. Karia is rapidly growing through online sales and this week is launching two pop up locations in Massachusetts on the exclusive Newbury Street in Boston and Downtown Wellesley.
Founded by Kyla Kenney Ruane and Dhrumil Rangani, Karia sources its diamonds from Rangani’s family owned diamond business in Surat, India, the diamond cutting and polishing center of the world. Rangani’s family is recognized as one of the top diamond growers in India and holds the record for the largest lab grown diamond at 50 plus carats. Karia passes along the best quality diamonds to its clients with standard diamond market clarity grades of VVS and VS plus quality, certified by the IGI and GIA.
“Unique to other lab grown diamond jewelers, my family grows our diamonds personally, allowing Karia to provide our clients the highest quality diamonds in the market,” said Dhrumil Rangani, Co-Founder, Karia Diamonds, Inc. “When selecting a lab grown diamond, quality should be top-of-mind for consumers. Our family has been in the diamond industry for fifty years and although we recently launched Karia, our clients can be confident there is a legacy behind our everyday pieces, engagement rings and custom jewelry.”
The LGD compound annual growth rate (CARG) is projected to grow at a rate of 9.6 percent, reaching $45.10 billion by 2030 up from, $23.74 billion in 2023, according to Persistence Market Research. This significant growth rate is due to the fact that lab grown diamonds are identical to natural diamonds, providing consumers with excellent value and maximizing options for budget conscious customers. Made of pressurized carbon, these diamonds have the same physical, chemical, and optical properties as mined diamonds and are grown with precise technology that involves no mining.
“Consumers are more frequently choosing lab grown over natural diamonds because they’re an ethical option and deliver superior quality, while being financially accessible in a tough economy. That is especially appealing to couples getting engaged,” said Kyla Kenney Ruane, Co-Founder, Karia Diamonds, Inc. “I also love that Karia provides women like me, with the option to gift themselves diamonds, and empowers them to wear diamonds everyday. I’m personally excited to provide clients with a boutique, personalized experience at our two new pop up locations, where they can view jewelry I have designed, or they can design their own personal pieces.”
In addition to providing an ethical option to “blood diamonds,” the organization is committed to stopping the mistreatment and trafficking of women and children in India. Its jewelry bags are hand stitched by Chaiim Humanitarian Clothing, which empowers women survivors of trafficking with job training and allows them to start their life again.
Currently, the company is selling its ready to wear line on its website, www.kariadiamonds.com. For clients looking to view the jewelry in person, Karia has two pop up locations within btone Fitness, 30 Newbury Street in Boston and 89 Central Street in Wellesley. Private consultations can be scheduled at either location through [email protected].
ABOUT KARIA DIAMONDS, INC.
Karia Diamonds, Inc. creates stunning everyday, bridal and custom jewelry featuring the highest quality, sustainable and ethically sourced lab grown diamonds. The company is also dedicated to supporting survivors of trafficking in Mumbai, India through its partner The Chaiim Foundation. Karia sources its diamonds from its family owned business in Surat, India, the diamond cutting and polishing center of the world, and is recognized as one of top diamond growers which holds the record for the largest lab grown diamond at 50 plus carats. Karia passes along the best quality diamonds with VVS and VS plus quality, certified by the IGI and GIA to its clients. The company prides itself on personalized design services, selecting the carat, cut and unique design elements to make diamond dreams come true. Visit Karia online www.kariadiamonds.com or at its locations in Boston and Wellesley, MA.
