Lab-grown diamond seller Grown Brilliance has purchased the assets of two e-tail rivals: Clean Origin and Aether Diamonds.
Financial terms were not disclosed.
“We are seeing a lot of consolidation in the market,” Grown Brilliance’s CEO Tejas Shah tells JCK. “I think there is more to come, with how prices are going.”
Shah says Clean Origin’s site will continue under that name, but the brand’s six stores will change to Grown Brilliance. As a result, Grown Brilliance will have 14 brick-and-mortar retail locations.
Aether’s site is staying up too—for educational purposes, Shah says. Grown Brilliance will offer Aether’s “carbon negative” diamonds, which it creates using carbon from the air, as an option to customers.
Grown Brilliance was founded in 2021 by Shah’s wife, Akshie Jhaveri, who serves as its creative director. Shah previously headed Unique Designs.
Clean Origin was one of the first e-commerce sites to specialize in lab-grown. It was founded in 2017 by industry veteran Alexander Weindling, who was its CEO, and Ryan Bonifacino, former chief marketing officer at Alex and Ani. The company attracted attention early on by recruiting Terry Burman, once the CEO of Signet Jewelers, to its advisory board. In 2022, Titan Co. invested $20 million in Clean Origin’s parent firm, Great Heights.
Aether Diamond was cofounded and headed by Ryan Shearman, a former executive with David Yurman. In 2022, Time called Aether one of the “best inventions” of the year. Shearman currently heads Loa Carbon, which will use the tech developed for Aether in other commercial applications, he says.
Top: A Clean Origin store (photo courtesy of Clean Origin)
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