Diamonds are forever for leading lab-grown diamond brand, Clean Origin.
Clean Origin is the largest retailer of purely lab-grown diamond jewellery in the U.S. Founded in 2017 by Alexander Weindling, Ryan Bonifacino and a team of industry veterans with over 100 years of combined experience, the team strived to disrupt the way diamonds were developed, sourced and sold.
For years, the dark secrets of the diamond industry had been hidden behind the sparkle and glamour of the gorgeous gemstones. Clean Origin's mission is to hold the diamond industry to a higher standard, with a new, environmentally conscious, and conflict-free process that gives peace of mind when purchasing diamonds.
$20 million equity investment from TCL North America, Inc. a wholly-owned subsidiary of Titan Company Limited. Titan is widely known for transforming the jewellery industry in India and for shaping India's retail market by pioneering experiential retail. Titan’s global jewellery operations generated 2021 sales of US $2.7 billion through its 2,000 stores in India and abroad.
“Titan brings more than simply cash to fuel our growth, but deep expertise in the international manufacturing, control, and logistics of bespoke diamond jewelry across a global platform.” Said Alexander Weindling, Co-Founder and CEO of Clean Origin and Great Heights Inc.
As a part of the deal, Ajoy Chawla, CEO Jewellery Division of Titan Company Limited will join Great Heights Inc. board of directors. Titan will also now own approximately 13.09% of the economic interest and 17.54% of the voting control in Great Heights Inc.
Clean Origin plans to use the funds to scale its operations, strengthen its supply chain, invest in omnichannel retail experiences, leverage cross border Indian-American synergies, and build a fortress balance sheet to further dominate the lab-grown diamond engagement ring industry.
“We are delighted to choose Titan as a partner and look forward to welcoming Mr. Chawla to our board of directors,” Weindling concluded.
