CT-CLEAN-ORIGIN
22.3.2022 15:58:04 CET | Business Wire | Press release
Great Heights Inc. , and its subsidiary Clean Origin LLC, leading online DTC retailers of lab-grown diamonds, engagement rings and jewelry, today announce a $20 million equity investment from TCL North America, Inc. (TCL Inc), a wholly-owned subsidiary of Titan Company Limited (NSE:TITAN ) - an Indian luxury products company known for manufacturing jewelry and watches - to further expand the business. Clean Origin plans to use the funds to scale its operations, strengthen its supply chain, invest in omnichannel retail experiences, leverage cross border Indian-American synergies, and build a fortress balance sheet to further dominate the lab-grown diamond engagement ring industry.
This transaction values Great Heights Inc. at approximately $132.8 million USD on a pre-money valuation basis and $152.8 million USD on a post-money valuation basis and creates no change of control nor direction for the company who maintains majority control.
As part of the deal:
- Ajoy Chawla, CEO Jewellery Division of Titan Company Limited will join Great Heights Inc. board of directors
- Titan will own approximately 13.09% of the economic interest and 17.54% of the voting control in Great Heights Inc.
“We are delighted to choose Titan as a partner and look forward to welcoming Mr. Chawla to our board of directors,” said Alexander Weindling, Co-Founder and CEO of Clean Origin and Great Heights Inc. “Titan brings more than simply cash to fuel our growth, but deep expertise in the international manufacturing, control, and logistics of bespoke diamond jewelry across a global platform.”
Clean Origin is on a mission to hold the diamond industry to a higher standard, with a new, environmentally conscious, and conflict-free process that gives everyone peace of mind when purchasing diamonds. Each diamond is lab-grown using a craft that mirrors the natural growing process creating molecularly identical stones without the destructive force of mining or its murky ethics. All diamonds are 100 percent real, 100 percent ethical and independently certified to meet the highest standard of quality.
About Clean Origin
Clean Origin, a wholly owned subsidiary brand of Great Heights Inc., is the largest retailer of purely lab-grown diamond jewelry in the U.S. Founded in 2017 by Alexander Weindling, Ryan Bonifacino and a team of industry veterans with over 100 years of combined experience, the team set out to disrupt the way diamonds were developed, sourced and sold. Seed investors included Terry Burman, Chairman of Abercrombie & Fitch, former Chairman of Zale’s and CEO of Signet brands Kay Jewelers and Jared. Clean Origin knows the diamond jewelry industry to its core and is on a mission to improve the diamond shopping experience. The company puts quality and ethics first, so consumers can feel good about diamonds now and forever. For more information, please visit, www.cleanorigin.com
About Titan Company Limited
Titan, a joint venture of the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), commenced operations in 1984. Since then, Titan has expanded from watches to creating India’s largest jewelry lifestyle brand, Tanishq and India’s largest digital omnichannel jeweler, Caratlane.com. Titan is widely known for transforming the jewelry industry in India and for shaping India's retail market by pioneering experiential retail. Titan’s global jewelry operations generated 2021 sales of US $2.7 billion through its 2,000 stores in India and abroad.
Founded in 1868 by Jamsetji Tata, Tata is one of the world’s premier global enterprises. In its most recent fiscal year, Tata generated US $103 Billion in revenue with a market capitalization exceeding US $300 billion - including 28 publicly listed companies as of September 30, 2021 - across ten industry verticals including consumer, technology, and retail.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220322005240/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Lenovo Group: Q4 and Full Year Financial Results 2025/2622.5.2026 01:47:00 CEST | Press release
Lenovo delivers exceptional fourth quarter results – maintaining growth and concluding strongest year in the Group’s history Lenovo GroupLimited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group’), today reported fourth quarter and full year results for fiscal year 2025/26, marking an exceptional Q4 and the strongest year in the Group’s history. During the quarter, overall Group revenue reached an all-time fourth quarter high of US$21.6 billion, up 27% year-on-year, marking the highest year-on-year growth rate in five years, with adjusted net income[1]doubling year-on-year to US$559 million. AI-related revenue[2] stood out as a leading growth engine, growing 84% year-on-year to account for 38% of total Group revenue in Q4. For the full year, the Group delivered record revenue of US$83.1 billion, with adjusted net income growing 42% year-on-year to US$2 billion. All business groups achieved solid double-digit year-on-year revenue growth, with a notable record full-yea
Andersen Global styrker sine globale mobilitetskompetencer med samarbejdspartneren Graebel22.5.2026 00:05:00 CEST | Pressemeddelelse
Andersen Global fortsætter med at styrke sin multidimensionelle platform gennem en samarbejdsaftale med Graebel, en global leder inden for medarbejdermobilitet og managed services med hovedkvarter i USA og globale aktiviteter på tværs af Nord- og Sydamerika, Europa og Asien. Graebel blev stiftet i 1950 og samarbejder med mange af verdens mest anerkendte organisationer om en mere simpel tilgang til mobilitet og talentstyring. Virksomheden hjælper organisationer med at støtte medarbejdere gennem hele ansættelsen – fra praktikophold og onboarding til national og international mobilitet samt karriereskift – gennem tjenester, der spænder over strategisk planlægning, hjælp til afrejse og på destinationen, assistance under udstationering, hjemsendelse og design af mobilitetsprogrammer. Gennem strategisk rådgivning og intelligent teknologi gør Graebel det muligt for organisationer at træffe mere informerede beslutninger og afstemme talentmobilitet med en bredere forretnings- og arbejdsstyrkest
The Estée Lauder Companies & Puig End Discussions Regarding a Potential Business Combination21.5.2026 22:05:00 CEST | Press release
The Estée Lauder Companies Reiterates Confidence in Its Beauty Reimagined Strategic Vision On March 23, 2026, The Estée Lauder Companies Inc. (NYSE: EL) and Puig confirmed they were in discussions regarding a potential business combination, but unless and until an agreement was signed between the companies, there could be no assurances regarding the deal or its terms. The Estée Lauder Companies and Puig today announced that the parties have terminated discussions regarding a potential business combination. The Estée Lauder Companies remains fully focused on continuing to execute its Beauty Reimagined strategy, which is well underway and delivering positive results. “We are grateful for the conversations we have had with Puig,” said Stéphane de La Faverie, President and Chief Executive Officer of The Estée Lauder Companies. “Today, we are reiterating our confidence in the power of our incredible brands, our talented teams, and our strength as a standalone company. We are more optimistic
Imagine Dragons to Perform at Abu Dhabi Grand Prix21.5.2026 17:51:00 CEST | Press release
Ethara, organiser of the Formula 1 Etihad Airways Abu Dhabi Grand Prix, have announced that one of the world’s biggest bands, Imagine Dragons, will headline the Saturday After-Race Concerts at the F1 Season Finale in Abu Dhabi. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521214839/en/ Imagine Dragons to perform at Formula 1 Etihad Airways Abu Dhabi Grand Prix (Photo: AETOSWire) The announcement is another landmark moment for the Abu Dhabi Grand Prix, whose thrilling Yasalam presented by e& fan entertainment offering has become synonymous with the F1 Championship finale in Abu Dhabi and is recognised as one of the most compelling sports and entertainment crossovers globally. The global chart-toppers join Lewis Capaldi and Zara Larsson, who are set to kick off a blockbuster line-up of performances on Yas Island on Thursday, 3 December, with more major international artists to be revealed. With their popular top hits, Ima
Carnegie Mellon University and Cleveland Clinic Develop AI System to Interpret Cardiac MRI Scans with Enhanced Accuracy21.5.2026 14:05:00 CEST | Press release
Trained on more than 13,000 patient studies, novel system significantly outperforms existing models by up to 35% A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521762286/en/ A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. The novel system, called CMR-CLIP, is d
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom