Lab-grown diamond companies SCIO Diamond Technology Corporation and Renaissance Diamonds Inc announced that they have signed a memorandum of understanding for a joint venture to develop and deliver lab grown fancy coloured diamonds with certification to the gemstone and jewellery market.
Renaissance Diamonds has developed an in-store distribution program that will be launched in Q1 2015 at one of the most prominent retailers in the United States. The company has sent initial shipments of their fancy coloured diamonds to independent retailers who have reported robust sales.
“SCIO Diamond has pioneered the market with their proprietary chemical vapor deposition (CVD) technology and has demonstrated the capability to grow extraordinary gemstones. Together, this gives us the opportunity to create a new, profitable segment for the retail jewellery market,” said Neil Koppel, president and CEO of Renaissance Diamonds.
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