French Lab Grown Company Goes into Receivership
July 28, 24
(IDEX Online) - Diam Concept, the French lab grown company that won financial backing from Chanel, has gone into receivership.
It was launched in 2016, by Alix Gicquel, a worldwide recognized scientist who set up a team working on "plasma for diamond growth" in France in 1990.
It used cutting-edge CVD (chemical vapor deposition) technology to produce diamonds for high-end jewelry.
But the Paris-based business posted a $700,000 loss in 2022, according to a report in Glitz.Paris and went into receivership in May. Chanel invested in Diam Concept in 2020, but subsequently withdrew.
Diam Concept has since received two takeover offers, both from companies interested in developing uses of lab growns for technology rather than jewelry.
It specialized in D, E and F-color white diamonds and a range of colored stones - champagne, cognac, green, blue, pink, yellow, orange and red.
Pic courtesy Diam Concept.