Diam Concept, the French company known for its lab-grown diamonds and previously backed by Chanel, has entered receivership.
Founded in 2016 by Alix Gicquel, a renowned scientist in the field of “plasma for diamond growth,” the company utilized advanced CVD technology to create diamonds intended for luxury jewelry.
Despite its innovative approach, the Paris-based firm reported a loss of $700,000 in 2022, as noted by Glitz.Paris, leading to its receivership in May. Chanel, which had invested in Diam Concept in 2020, later withdrew its support.
Following its financial difficulties, Diam Concept has attracted two acquisition offers. These proposals come from companies interested in utilizing lab-grown diamonds for technological applications rather than traditional jewelry.
Diam Concept specialized in producing high-quality white diamonds (D, E, and F colors) as well as a variety of colored stones including champagne, cognac, green, blue, pink, yellow, orange, and red.
