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Gemesis Has Pink – Retail Rollout Expected in Early ‘09

Lab diamond maker Gemesis has announced the beginning of regular production of pink diamonds. This is the firm’s second color range since the commercial production of yellow diamonds was launched

Manufactures are expected to start receiving the rough output by late November of this year, with the first jewelry set with the Gemesis pinks projected to be in stores in early 2009.

Production will start with 1 - 2 carat rough, according to CEO Stephen Lux, though it is understood that larger goods of about 3 carats are expected to be produced at a later stage. The pink lab-created diamonds’ color ranges from fancy purple to vivid pink.

Since Gemesis came onto the market with their range of yellow diamonds, there has been an expectation that additional fancy colors will be introduced. While the company declined to comment, blue diamonds are likely to be offered next.

Gemesis diamonds sell at about a 30 percent discount to natural mined yellows of comparable size, color and clarity. Because of the scarcity of pink diamonds, the discount on the lab-made goods is expected to be less then 30 percent.

Blue and Pink Cultured Diamond Jewelry Line Launched

According to this press release on cultured diamonds, Renaissance Diamonds announced Thursday that it has designed a new jewelry collection incorporating fancy vivid pink and blue colored lab-created diamonds. Gemesis, which supplies Renaissance, has yet to officially announce these new diamonds, though the development has been expected for some time.

Dubbing them “environmentally friendly created diamonds,” the “Breathtaking” collection comprises of fashion and engagement designs with pink and blue center stones set with micro pavé.

A Gemesis spokesman told IDEX Online that the firm could comment no further than to say that, as previously stated, Gemesis plans this year to begin producing and publicly selling cultured diamonds in colors other than yellow.

The source said that these colors included blues and pinks and that the announcement would take place sometime “in the next six to eight weeks.”

Gemesis to launch pinks and blues this year

Gemesis, the cultured diamond producer, said today it expects to launch pink and blue diamonds by the end of this year.

Currently, Gemesis only sells cultured diamonds - diamonds that share the same chemical and physical properties of earth grown diamonds but are grown under laboratory conditions - in yellow and orange.

The Florida-based company said it can currently produce colorless stones, but in sizes that would directly compete with the most prevalent mined diamonds and thus it felt no need to bring a product to market that is so readily available.

However, with predictions of a major shortage looming in larger white goods, the company’s said it is working consistently to grow stones in the 5 – 10 carat range. Gemesis expects these types of goods will be commercially available in about three years.

The supply of cultured diamonds remains extremely limited. Gemesis does not give exact figures, but the company is believed to produce and sell around 100,000 carats per year.

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