To increase its downstream presence and market share in India, Rio Tinto's Argyle Pink Diamonds business has appointed specialist diamond jewelry designer, manufacturer and luxury retailer, Nirav Modi of Firestone Diamond, as the newest member of a select group of master craftsmen known as Authorised Partners and Select Ateliers to incorporate Argyle pink diamonds into jewelry for the local market.
Firestone Diamond is a third-generation diamond company in India specializing in the design and manufacture of heirloom jewelry pieces. Firestone has previously acquired rare pink and blue diamonds from the Argyle mine, showcasing them in its jewelry pieces. Most recently, the sale of Nirav Modi's US$3.56 million (Rs.16 crore) Golconda Lotus Necklace launched this designer into the world of jewelry as an artistic form. This necklace comprised an unprecedented collection of 34 rare Argyle pink diamonds, linked together by diamond chains.
"The time is right for India to take its place in the world of rare coloured diamonds. This exclusive partnership provides an ideal opportunity to enhance the demand for rare pink diamonds in India," says Nirav Modi, Chairman of Firestone Diamond.