New York-based jewelry manufacturer Sasha Primak has acquired Ada Diamonds, a company specialising in lab-grown diamond jewelry.
The acquisition comes amid ongoing growth in the lab-grown diamond segment, which analysts project will reach $20 billion globally by 2027. In the United States, lab-grown diamonds now represent approximately 50% of all engagement ring center stone sales.
Operational Transition
Following the acquisition, Ada Diamonds has relocated operations to Sasha Primak’s flagship facility at 529 5th Avenue in Manhattan. The company’s showrooms in Austin and San Francisco have closed as part of the transition. Ada Diamonds will continue operating through its concierge service model.
David Primak, COO of Sasha Primak, said:
“This feels like a natural evolution,” said David Primak, COO of Sasha Primak. “We’ve worked behind the scenes with Ada Diamonds for years. Now we will be able to enhance the Ada customer experience through faster custom turnaround times, expanded product offerings and an immersive, behind-the-scenes look at the master artisans who will be handcrafting their jewelry.”
The acquisition is intended to integrate Ada Diamonds’ operations with Sasha Primak’s design and fabrication capabilities.
Leadership Transition
The acquisition follows the medical retirement of Ada Diamonds’ co-founders, Jason Payne and Lindsay Reinsmith. According to the release:
“This deal follows the medical retirement of Ada Diamonds’ co-founders, Jason Payne and Lindsay Reinsmith, who sought a partner that would uphold the brand’s dedication to integrity, artistry and client service.”
Sasha Primak had worked with Ada Diamonds for several years as a fabrication partner prior to the acquisition.
