Lab-grown diamond company Lusix has officially been sold, to Indian lab-grown producer Fenix as well as Dholakia, a subsidiary of Indian giant Hari Krishna Exports.
The two companies paid a total of $4 million for Lusix, a much-touted Israeli producer that had received at least $152 million in funding since it was founded in 2018.
“Both Fenix and Dholakia offered similar terms during the bidding process and ultimately decided to split the production between themselves, under confidential conditions,” a statement said.
The final bid, however, was done under the Fenix name, a spokesperson tells JCK, with Dholakia’s involvement only disclosed this week.
Dholakia sells lab-grown via its Craft brand to major chain stores and its Revelation brand to independent retailers.
(Photo courtesy of Lusix)
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