LVMH Ventures Into Lab-Grown Diamonds Mined From Solar Power

French luxury group LVMH Luxury Ventures has placed a stake in an Israeli lab-grown diamond startup along with a roundtable of other investors. The US$90 million investment into the brand, Lusix, was made after growing concern for the ethical procurement of raw diamonds. 

The diamonds are being grown using solar energy as part of Lusix’s requirements for lab-grown gems. The startup is the first diamond producer to rely solely on solar power and sell its stones under a ‘Sun Grown Diamond’ line.

These engineered jewels are as real as natural diamonds that have been mined, possessing the same chemical and physical properties as well as sparkle and glow.

LVMH understands the future of luxury fashion and is now providing the option to its customers to purchase natural diamonds or diamonds that have been grown and do not come at the cost of the environment.  

However, jewelers Tiffany and Bulgari, both of which are under the LVMH family, stand by natural gems as luxury and will not adopt this technology.

[via Business of Fashion and Forbes, cover image via Lusix]