Expert Talk with Naman Parikh: Lab Diamond Innovation & Responsibility

At Maren Jewellery, we believe in jewelry with meaning - beautiful, mindful, and responsibly made. In our expert journal, we speak with people forging new paths and using their knowledge to drive real change in the industry.

In this edition, we take a look at the world of lab diamonds - a topic that brings together technological innovation, transparency, and new approaches in the jewelry industry.

We are delighted to speak with Naman Parikh, the founder of Fenix Diamonds. As a pioneer in the development of high-quality lab-grown diamonds with a focus on transparency and traceability, he combines technological innovation with sustainable thinking.

Join us for a conversation about transparency, technology, and why lab-grown stones are more than just an alternative - they are a statement for the future of jewelry.

Naman Parikh is the founder and CEO of Fenix Diamonds and one of the leading experts in the field of growing, cutting, and distributing lab-grown diamonds.

With his vision of an ethical and sustainable alternative, he has made Fenix a globally recognized supplier of high-quality lab-grown diamonds. Under his leadership, the company relies on modern technologies such as CVD (Chemical Vapor Deposition) to produce diamonds with a focus on traceability, certification, and reduced emissions. The emphasis is on transparency and quality, with the goal of reducing emissions in the production process.

Through strategic acquisitions, such as that of pioneer Lusix, Parikh is driving innovation in the field of lab-grown diamonds. As a thought leader in sustainable luxury, he is setting new standards in an industry undergoing transformation.

Through his work, Naman Parikh contributes to the discussion on new approaches in the luxury and jewelry segment and is actively shaping the future of responsible jewelry.

The following statements reflect the interviewee's personal assessment.

Naman Parikh: >To be honest, lab-grown diamonds can only be considered truly sustainable if they are produced using renewable energy.

The cultivation of a lab-grown diamond requires a considerable amount of energy. When such diamonds are produced using other energy sources like fossil fuels, they are less sustainable than assumed.

Fenix Diamonds has made significant investments in Gujarat, India - the world capital of diamonds - in generating its own renewable energy through solar and wind turbines. Approximately 70% of our energy needs are generated from our own sources. The remaining 30% is green energy that we obtain through the government's "Green Tariff" system. This is green energy that does not come from our own sources but from other renewable sources, provided by the government.<

Naman Parikh: > We apply 2 methods to ensure solid and consistent quality standards.

For all melees and stones under 0.29 carats, we ensure that our master graders evaluate each stone based on the 4 Cs - Cut, Color, Clarity and Carat . Each stone is also measured to the millimeter to ensure our customers receive a precise delivery accurate to the millimeter.

Finally, each stone passes through a testing machine to ensure that it is 100% lab-grown diamonds.

Once this is completed, we group a series of stones with the same characteristics into so-called lots/packages, each containing its own unique identification number. The information for each lot/package is stored in our traceability system.

For all stones from 0.30 carats, we apply the same steps as with the melees, but also make use of third-party laboratories such as IGI, which certify each individual stone.

In addition, every evaluated and certified stone receives its own unique number, which is laser-engraved onto the stone and allows for unique identification.<

Naman Parikh: > Lab-grown diamonds are made by humans and machines and can be supplied in large quantities. In addition, technological advances and automation have significantly contributed to making them very affordable.

I often compare it to the time when LCD TVs were introduced. When they first came to market, they were not sold for less than 3000 euros; now, thanks to mass production and technological progress, they are available for 200 euros.

We believe that both natural diamonds and lab-grown diamonds have their own place. The upscale, bespoke, and couture jewelry segment will always prefer natural diamonds. As a third-generation diamond dealer, we understand and appreciate the journey behind a natural diamond.

Lab-grown diamonds, on the other hand, offer a more democratic reach, allowing price-conscious customers to enjoy a beautiful quality product at affordable prices.

It's not about pitting one product against the other. We want to give the customer the opportunity to choose both a natural and a lab-grown diamond by highlighting their unique qualities.<

Naman Parikh: > We are very optimistic about lab diamonds, and we are confident that acceptance will increase year by year. There are many brands that want to expand their offerings, and lab diamonds are an ideal catalyst for that.

We also believe that lab diamonds can be used for more than just jewelry. We believe they have the potential to be used in various product applications, from jewelry to watches and hopefully even clothing and accessories.

Lab-grown diamonds are truly versatile when they reach their full potential. You just have to be a bit creative and explore new paths!<