The International Gemological Institute (IGI) reported substantial growth in its second fiscal quarter, driven primarily by the strong performance of lab-grown diamonds and jewelry. Revenue climbed 31% year-on-year to INR 3.98 billion ($41.9 million), with profit after tax increasing by 43% to INR 1.86 billion ($19.6 million). The institute highlighted significant gains in loose synthetic stones and lab-grown jewelry segments.

Nacols Jewelry, a long-standing retailer in Wichita Falls, Texas, has dramatically increased customer traffic and enhanced its community presence by integrating an 1889 Cake and Coffee Bar within its 7,500-square-foot premises. This innovative co-location, born from the need to fill an unexpectedly large new retail space, allows the jewelry store to capitalize on the appealing aroma of fresh baked goods and coffee, attracting thousands of visitors monthly and fostering a welcoming atmosphere that demystifies the jewelry buying experience.

Rapaport has named Yosi Botzer, former CTO of Perion Network, as its new Chief Technology Officer. Botzer will spearhead the company's AI transformation, aiming to integrate artificial intelligence into all aspects of its technology development, operations, and value delivery to the natural diamond industry. This initiative includes enhancing the Rapaport Price List and developing new tools like the Ring Builder for retailers.