Stargems Group has teamed up with diamantaire Raj Mehta to create a new business that will see the Dubai-based diamond company “significantly” expand its polished-distribution network.
In the new joint venture, Stargems will source diamonds, while Mehta, who is on the board of WJI 2030, will be CEO and managing director, and will oversee the distribution of polished diamonds to brands globally, Stargems said Sunday. The new company will operate alongside Stargems’ existing operations.
“As the diamond landscape evolves through new policies and technologies, our combined expertise empowers clients to adapt and lead with clarity and purpose,” stated Mehta.
Stargems will use its existing factories to fulfill orders but will concurrently expand its distribution and manufacturing units in Botswana, Namibia, South Africa and India. Production will span a broad range of sizes and shapes, from melee to rare specials, including fancy colors, fancy shapes and precision-cut diamonds tailored for the watch and jewelry industries.
Currently, Stargems’ business covers mining, rough-diamond tenders, manufacturing and global distribution. The new business will enable the company to expand to polished distribution as well, with the goal of strengthening its footprint across major hubs, it said.
“[Mehta’s] deep-rooted industry knowledge, responsible approach, and progressive vision make him the ideal leader to drive this next phase of growth,” said Shailesh Javeri, chairman of Stargems. “This venture represents our long-term vision to elevate how diamonds are crafted and delivered. By blending our collective capabilities, we are positioned to meet global demand in a more cohesive, responsible and forward-looking way.”
Image: The signing of the joint venture. (Stargems)