February 4, 2025: COLUXE is the new entrant in the lab-grown diamond market which is buzzing now, the startup is the brainchild of serial entrepreneur and co-founder of Good Glamm Group, Priyanka Gill, who is shifting from her role at Kalaari Capital as venture partner. The brand announced it has secured angel funding.
The diamond brand is set to launch digitally in mid-2025, followed by retail expansion, tapping into India’s $50B fine jewellery market, the company added.
The startup’s goal is to introduce fine jewellery an everyday luxury for aspirational consumers. The startup will use the omnichannel route to deliver products in contemporary designs, such as solitaire rings, pendants, earrings, tennis bracelets and necklaces, along with signature pieces and thematic collections around the zodiac.
Explaining the rationale behind the brand, Priyanka Gill, Founder & CEO said, “COLUXE aims to be India’s best-loved lab-grown diamond and gemstone jewellery omni-channel brand. Rooted in India, powered by an innovative technology platform, setting new global standards for sustainable and ethical luxury, synonymous with inclusivity, celebration and joy.”
Priyanka Gill’s COLUXE to Make Sustainable Diamonds an Everyday Luxury
Gill added, LGDs (lab-grown diamonds) are as beautiful as mined diamonds, maybe more so, as they are sustainable and ethical. They are visually and molecularly identical to their mined counterparts, making them a beautiful, rational choice for aspirational consumers who want more. COLUXE jewellery with LGDs is impactful, cost-effective and good for both the planet and people.”
COLUXE, is in talks with venture capitalists to secure additional round of funding, and aims to offer AI-powered virtual try-ons, multi-setting designs, and personalised jewellery experiences. The emphasise is to create a strong retail and digital presence to offer certification, traceability, and client-friendly returns and exchange policies, reavealed the company.
The lab-grown diamond jewellery market is steadily on the rise with brands like Aukera, including Shark Tank fame Jewel Box.
