NEWS GEMS
Q&A A pair of 2 ct. Lusix cut and polished lab-grown diamonds
3 Questions for...
BENNY LANDA
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ONE OF THE richest men in Israel, Benny Landa, who made his fortune with digital printing, recently founded Lusix, a lab-grown diamond producer. Here, Landa talks about why he got into this space and shares his thoughts on the lab-grown versus natural controversy. —RB Why did you decide to start growing diamonds? [Landa Group’s research division] Landa Labs develops technology, and the business model is very simple: When that technology is proven to be disruptive for a large market, we spin it out as a separate business. We’ve spun out seven businesses so far. We are a material science company, so all we do is develop material science–based processes. The head of our energy project came to me and said, “I think we have the capability to grow high-quality diamonds.” But a lot of people can. What makes your company different? I daresay you can count on one hand those [growers that] are really advanced. And even amongst those…I think we have some unique capabilities. JCKONLINE.COM
We believe we’re the only diamond company in the industry that knows how to grow rough diamonds to controlled shapes. For example, we grow pyramid-shape diamonds. That means they’re much closer to the final shape of the polished stone than conventional lab-grown diamonds or than most natural diamonds. And therefore, there’s a higher yield for every carat of rough. Another example is that we are able to grow very high-quality color in an “as grown” matter. There is no need to do HPHT [high-pressure, hightemperature] treatment afterward. That means that our diamonds don’t have, for example, graininess. Also, we’re able to produce substantial volumes with very consistent properties. Do you think that lab-grown and natural diamonds are competing? I don’t see it that way. If what’s really important for consumers is that the stone on their finger was created millions of years ago below the earth, we will never be able to compete with that emotional aspect. But for some, that’s not a big factor. What is a bigger factor is the quality, the value. For the same money, you can get a [larger] diamond. Mined diamonds and lab-grown, like most other industries, will continue to coexist, like electric cars and internal combustion engines, and mechanical printing and digital printing. The real competition is for the customer’s wallet.