Priyanka Gill, co-founder of Good Glamm Group, has stepped away from her role at Kalaari Capital as a venture partner to launch COLUXE, a lab-grown diamond (LGD) brand. She has secured angel funding to fuel the new venture, which aims to redefine fine jewellery as an everyday luxury for aspirational consumers.

COLUXE plans to introduce contemporary jewellery designs, including solitaire rings, pendants, earrings, tennis bracelets, and necklaces. The brand will also unveil signature pieces and thematic collections, such as zodiac-inspired jewellery.

A Vision for Sustainable Luxury

Priyanka Gill, now the Founder & CEO of COLUXE, aims to make COLUXE India’s most loved lab-grown diamond and gemstone jewellery brand. She envisions a brand that embraces sustainability, ethical luxury, and inclusivity while leveraging innovative technology to set new global standards.

“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,” said Gill.

She also emphasized the appeal of LGDs over mined diamonds, stating that they offer beauty, sustainability, and ethical sourcing. “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,” she added.

Positioning in the Lab-Grown Diamond Market

The lab-grown diamond market in India has seen rapid expansion, attracting both investors and established jewellery brands. Startups like Aukera, backed by Fireside Ventures and Alteria Capital, and Jewel Box, known from Shark Tank India, have already made strides in this segment. Fine jewellery brand GIVA also plans to expand its lab-grown diamond portfolio, using a portion of its ₹525 crore Series B funding to scale operations.

COLUXE enters this competitive market with a unique proposition. By integrating cutting-edge AI-powered experiences, offering customization options, and focusing on sustainability, COLUXE aims to set itself apart from traditional and existing LGD brands.

Investment and Expansion Plans

COLUXE has already secured early-stage angel funding and is now in talks with venture capitalists for a larger funding round. The company plans to launch its digital-first platform by mid-2025, followed by an omnichannel expansion into India’s $50 billion fine jewellery market.

By blending technology, retail, and digital innovations, COLUXE will offer AI-powered virtual try-ons, multi-setting jewellery designs, and personalized shopping experiences. The company also promises certification, traceability, and flexible return and exchange policies, ensuring that customers receive authentic, high-quality jewellery.

Growth Strategy and Market Outlook

The lab-grown diamond industry continues to gain momentum worldwide, with growing consumer demand for sustainable luxury products. India, a key player in diamond manufacturing, has seen increasing adoption of LGDs due to their cost-effectiveness, ethical sourcing, and minimal environmental impact.

Several factors contribute to the rising popularity of lab-grown diamonds:

  1. Affordability – LGDs cost 30-40% less than mined diamonds, making them attractive to aspirational buyers.
  2. Sustainability – Traditional diamond mining causes environmental degradation, while lab-grown diamonds offer a carbon-neutral alternative.
  3. Identical Properties – Lab-created diamonds share the same molecular structure and optical brilliance as natural diamonds.

As a digitally native brand, COLUXE will focus on direct-to-consumer (D2C) sales while expanding into offline retail through flagship stores, pop-ups, and premium collaborations.

Technology-Driven Shopping Experience

COLUXE plans to redefine the fine jewellery shopping experience with advanced technology integrations. The brand will introduce:

  • AI-powered virtual try-ons – Allowing customers to visualize jewellery in real-time before purchasing.
  • Multi-setting designs – Enabling buyers to customize jewellery based on preferences.
  • Personalized recommendations – Using machine learning to curate selections tailored to individual styles.

By integrating e-commerce and retail innovations, COLUXE aims to offer a seamless and interactive shopping journey, ensuring that customers can explore, customize, and purchase jewellery effortlessly.

Industry Competition and Market Potential

As the global jewellery industry shifts toward ethical alternatives, brands embracing lab-grown diamonds continue to gain traction. Reports indicate that the global LGD market will reach $27 billion by 2030, growing at a CAGR of over 9%.

Several jewellery brands have already embraced sustainable and tech-driven strategies, including:

  • Tanishq – Exploring sustainable jewellery collections.
  • BlueStone – Expanding its LGD portfolio.
  • Joyalukkas – Experimenting with AI-driven retail solutions.

COLUXE will compete with these established brands while offering a unique blend of digital-first experiences, affordability, and ethical luxury.

What’s Next for COLUXE?

With funding in place, COLUXE has ambitious plans for the next 12-18 months. The brand will focus on:

  1. Scaling digital operations – Building a state-of-the-art e-commerce platform for its launch in mid-2025.
  2. Retail expansion – Opening experience centers in key metropolitan cities across India.
  3. Brand collaborations – Partnering with fashion influencers, stylists, and celebrities to promote LGDs.
  4. Consumer education – Launching initiatives to raise awareness about the benefits of lab-grown diamonds.

Final Thoughts

COLUXE arrives at the perfect time when the jewellery industry is embracing sustainability, ethical sourcing, and technological advancements. With Priyanka Gill’s leadership, strong investor backing, and a clear brand vision, COLUXE is set to disrupt the fine jewellery segment in India and beyond.

As consumers continue shifting toward sustainable luxury, COLUXE could redefine how modern buyers perceive and purchase jewellery, making lab-grown diamonds a mainstream choice for everyday elegance.

By Admin

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