A fast growing London lab-grown diamonds startup has lined up a luxury goods expert to chair the company, and secured funding towards expanding with its first standalone store on Bond Street lined up.
The Diamond Lab, which sells collections of rings and bracelets using diamonds created in a lab in India where they are grown, cut and polished, was launched by Jamie Amelia Patel in May.
She is a former consultant to fine jewellery and watch brands and started the business using her own savings and backing from existing clients and friends.
The Diamond Lab sells goods in Selfridges and has now secured its first round of private financing; a £450,000 Series A, led by investor James Shulman. He is an investor in real estate and eary stage businesses.
David Duncan-Smith, former managing director of Prada UK and Louis Vuitton UK, joins as non-executive chairman and by the end of 2023 a 4290 sq ft The Diamond Lab shop will open on New Bond Street.
Duncan-Smith said: “I am delighted to be bringing my 30 years luxury retail experience to advising and helping Jamie and the team in building an important new brand on the world stage.”