Diamond Foundry Opens Dubai Sales Office

Dec 7, 2020 5:07 AM By Rapaport News

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RAPAPORT... Diamond Foundry, one of the largest synthetics producers, has opened an international sales and distribution office in Dubai, citing the city’s beneficial location and connections with diamond centers.

The Silicon Valley-based company’s new outpost will be within the Dubai Multi Commodities Centre (DMCC), a state-funded trading hub encompassing diamonds and other sectors. The opening ceremony took place at Almas Tower, Dubai, on November 25, the DMCC said Monday.

“Dubai is a strategically important location for us, providing us direct access to some of the world’s most important diamond markets, such as India, Israel and Europe,” commented Toby Cruse, Diamond Foundry’s vice president for global sales. “With their expertise in the sector and a seamless business setup process, the logical choice for our international office was DMCC, where we look forward to continuing our growth.”

The DMCC has been working to attract the lab-grown sector: The center held its first tender of synthetic rough last year, and has admitted “several” man-made diamond companies as members, including Lumex, which opened an office in the emirate earlier this year.

“Dubai has become synonymous with innovation and disruption, and having a disruptive company like Diamond Foundry base their international operations in our free zone is a clear testament to that,” added Ahmed Bin Sulayem, the DMCC’s executive chairman and CEO. “Attracting businesses that are revolutionizing the diamond sector is proof that we have successfully built an enabling ecosystem for the entire trade — natural and laboratory-grown.”

Diamond Foundry, established by entrepreneurs Martin Roscheisen and Jeremy Scholz and backed by actor Leonardo DiCaprio, produces lab-grown stones using a high-density plasma reactor, and has been certified carbon-neutral by Natural Capital Partners.

Image: Toby Cruse (left) and Ahmed Bin Sulayem at the DMCC. (DMCC)

Tags: Ahmed Bin Sulayem, Diamond Foundry, DMCC, Dubai, Dubai Multi Commodities Centre, lab-grown, lab-grown diamonds, Rapaport News, Synthetic diamonds, Synthetics, Toby Cruse, uae, United Arab Emirates