The Diamond Lab secures £450,000 funding and plans to open New Bond Street flagship store

The Diamond Lab, the self-funded jewellery brand that started from a social experiment, has secured £450,000 Series A funding, led by investor James Shulman, with plans to open a flagship store on London’s New Bond Street in November 2023.

Steered by Founder Jamie Amelia Patel, with the aim to educate customers about lab-grown diamonds, The Diamond Lab has been further bolstered by former Managing Director of Prada UK and Louis Vuitton UK, David Duncan-Smith, joining as Non-Executive Chairman.

After launching in Selfridges London this year, the brand attracted multiple investors who saw the opportunity for expansion, and Patel has forecasted £3.8 million in sales during its first year through international e-commerce, a London flagship store, and several brand partnerships due to be announced in the coming months.

Further lab-grown diamond jewellery designs will also add to its three existing collections, including the exclusive Selfridges Yellow Diamond line.

Jamie Amelia Patel, Founder of The Diamond Lab

Patel said: "The Diamond Lab is shaking up the traditional norms of the luxury industry by deeply understanding the demands of upcoming luxury consumers. We aim to cultivate a space that encourages significant dialogues on earth kind diamonds and the future of eco-luxury.

"Not only am I eager to start discussions about diamonds, but I am also passionate to educate customers on the process of seed to diamond."

The Diamond Lab was born from a social experiment with 100 of Patel's clients who particularly favoured mined diamonds. It was an opportunity for her to address the misconceptions about diamonds grown above ground. Each person received a lab-grown diamond bracelet, strung on a clear thread "to represent the invisible threads that connect technology and nature". They were to report back their views, which resulted in every client requesting to purchase the lab-grown diamonds.

The bracelets now sit as a collection and have since been named ‘LAB100’. The jewellery has a simple aesthetic and "represents the industry's transparency", as well as The Diamond Labs' commitment to educating consumers on mindful stones and sustainable practices of jewellery making.

David Duncan-Smith commented: "Jamie Patel is a visionary in the luxury jewellery sector. This, at an important moment in time, will take the consumer on an exciting, disruptive yet respectful change of pace with the advent of lab-grown diamonds joining the global retail experience of diamond jewellery designs.

"The Diamond Lab prepares to do so whilst appreciating and understanding the importance in today’s world of eco-luxury, linking ecological balance within the pursuit of environmental sustainability.

"Jamie’s leadership and creative vision is at the forefront of the lab-grown diamond revolution bringing a new perspective on the way forward for luxury consumers to understand and appreciate a new holistic approach to the diamond retail experience.

"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."

The Diamond Lab is currently available online and appointments can be made to view and learn about the jewellery at Selfridges London.

Photo credit: Matt Jones, The Snapshot People KTD.