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Press Release: The Phantom Luxury Group LLC was created today by the company’s two shareholders, Luster Industries Pvt. Ltd. and Phantom Holdings LLC. Phantom Luxury Group, for which Nehal Modi will serve as its chairman and CEO, will have three operating divisions. The primary division, Phantom Diamonds, will manufacture and market proprietary diamond cuts. Phantom Diamonds are currently distributed in 400 doors nationwide and are projected to be in 2,000 doors by 2015 based upon successful completed tests and committed roll-out plans. The Phantom Refining division currently owns two precious metal refining facilities and based upon a unique and proven business model, it has development plans to increase that number to 30 locations by 2015. These facilities will also serve as buying offices for recycled diamonds. The third Phantom Luxury Group division, Phantom Capital, is structured to purchase and/or enter into put/call options for distressed diamond jewelry assets or overruns. Phantom Capital will also be licensed to provide loans at highly competitive rates against most precious gem assets including one-of-a-kind pieces. Luster Industries, based in Mumbai, is an investment vehicle that holds interests in major international mining, diamond manufacturing and distribution and jewelry distribution companies. Phantom Holdings was formed in early 2013 with sole purpose to make strategic investments in niche diamond and precious metal initiatives. Modi has a degree in finance and marketing from Boston University. He has served as a CEO in both wholesale and retail organizations and brings a unique skill set to these new ventures. Phantom Luxury Group will be exhibiting in JCK Las Vegas at booth Lux 1610.
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