Kalaari Capital's Priyanka Gill launches lab-grown diamond brand COLUXE

Serial entrepreneur and co-founder of Good Glamm Group, Priyanka Gill, is moving on from her role at Kalaari Capital as venture partner to launch a lab-grown diamond brand, after raising angel funding.

COLUXE aims to make fine jewellery an everyday luxury for aspirational consumers. It will take the omnichannel approach to offer products in contemporary designs, such as solitaire rings, pendants, earrings, tennis bracelets and necklaces, along with signature pieces and thematic collections around the zodiac.

Priyanka Gill, Founder & CEO of COLUXE, said, "COLUXE aims to be India’s best-loved lab-grown diamond and gemstone jewellery omni-channel brand. Rooted in India, powered by an innovative technology platform, setting new global standards for sustainable and ethical luxury, synonymous with inclusivity, celebration and joy."

She also said, LGDs (lab-grown diamonds) are as beautiful as mined diamonds, maybe more so, as they are sustainable and ethical. They are visually and molecularly identical to their mined counterparts, making them a beautiful, rational choice for aspirational consumers who want more. COLUXE jewellery with LGDs is impactful, cost-effective and good for both the planet and people."

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Shining bright: The rise of lab-grown diamonds in India

The lab-grown diamond jewellery space comprises brands such as Aukera, backed by Fireside and Alteria Capital, and Shark Tank fame Jewel Box. Fine jewellery brand GIVA plans to use a part of its Rs 525-crore Series B fundraise to augment its lab-grown diamond portfolio.

COLUXE has secured early-stage funding from leading investors, the company said in a statement. It plans to launch digitally in mid-2025, followed by retail expansion, tapping into India's $50B fine jewellery

market, it added.

COLUXE, which in talks with venture capitalists to raise another round of funding, plans to offer AI-powered virtual try-ons, multi-setting designs, and personalised jewellery experiences. The focus is on creating a strong retail and digital presence to offer certification, traceability, and client-friendly returns and exchange policies, said the company.