Rio Tinto is delighted to celebrate the opening of India’s premier pink diamond luxury retailer. Rio Tinto’s Argyle pink diamonds, known as the rarest diamonds in the world, will now be available in exquisite jewellery at the Nirav Modi salon in Mumbai.
Nirav Modi is Chairman of Firestone Diamond, a diamond jewellery designer, manufacturer and luxury retailer, who specializes in one-of-a-kind heirloom jewellery pieces. Firestone Diamond is an Authorized Partner of Argyle Pink Diamonds and has acquired a significant number of rare pink and blue diamonds from Rio Tinto’s Argyle mine in Western Australia.
Highlighted at today’s launch was a signature ring, The Shalimar Ring comprising 4.86 carats of Argyle pink diamonds including its magnificent centerpiece, a 1.25 carat fancy vivid purplish pink round diamond. The 1.25 carat diamond was the much coveted hero of Argyle’s 2009 exclusive Pink Diamonds Tender and remarkable for the interplay of vivid pink and purple hues that Argyle pink diamonds are famous for. Inspired by Laxmi, the India Goddess of Wealth, Nirav Modi designed The Shalimar Ring which has been over a year in the making and is valued at 10 crore rupees or approximately US$2 million.
According to Josephine Archer, Business manager of Argyle Pink Diamonds,
“We are delighted to be in Mumbai to celebrate this important occasion. The Nirav Modi salon will take its place in history as the first luxury retailer in India to bring the unparalleled rarity of Argyle Pink Diamonds jewellery to the Indian consumer. “
Josephine Archer also provided an insight into the separate market position held by pink diamonds and the escalating value of these truly rare gems.
"In the rarefied world of Argyle pink diamonds we are continuing to see strong demand in all markets. On the supply side, there are no new pink diamond mines or deposits. These fundamentals are providing a catalyst for growth in investment demand and with only around a decade of remaining mine life at Argyle, these rare pink diamonds are becoming rarer. “