Lab-grown diamond company Lusix, a prominent Israeli producer, has been acquired by Fenix, an Indian lab-grown diamond manufacturer, and Dholakia, a subsidiary of the industry giant Hari Krishna Exports.
The $4 Million Acquisition
The two companies jointly paid $4 million for Lusix, which had garnered significant attention and over $152 million in funding since its founding in 2018. According to a statement, both companies offered similar terms during the bidding process and opted to split the production under confidential agreements.
Dholakia’s Role Revealed
While the final bid was submitted under Fenix’s name, Dholakia’s involvement was disclosed only recently. Dholakia markets lab-grown diamonds through its Craft brand for major chain stores and its Revelation brand for independent retailers.