Greenlab, which calls itself India’s largest lab diamond producer, has purchased hundreds of growing machines from Isrough and Bhanderi Lab Grown.
Vipul Patel, Greenlab’s president of sales, tells JCK that the company already has 1,600 machines, which produce 2.9 million carats of rough a year. That will grow to over 2,500 machines with the purchase of 105 growers from Isrough, and another 1,000 from Bhanderi.
Patel says Greenlab was interested in Isrough’s machines because “they produce good color, D color and E color, and their clarity is better than anyone in this industry, VVS.”
Isrough is owned by Ofer Mizrahi, a prominent Israeli diamond manufacturer, as well as Japanese conglomerate Cornes. As a result of this deal, Isrough will invest part of the proceeds into its sales subsidiary Green Rocks.
“We want to focus on our core strength and asset, which is distribution,” Green Rocks CEO Leon Peres tells JCK. “We were very proud of the technological achievement and the product we produced. But India is the place to produce. The cost of production is much lower. Diamond growing is following the same path as in natural diamonds. For years, Israel had the best cutters in the world, and then it went to India.
“Eventually, there’s going to be consolidation in the lab industry,” he adds, “and you’re seeing it begin here.”
While Isrough is ending most of its manufacturing, it will still “do small-scale research on industrial materials,” Peres says.
Greenlab was the company that produced the 7.5 ct. lab-grown that India’s prime minister Narendra Modi presented to then-president Biden at the White House in 2023.
It sells its product through a U.S. subsidiary, Labon, and distributors such as Green Rocks. It also recently opened up a jewelry chain, Aigiri, to retail lab-grown in India.
Photo courtesy of Greenlab