Rio Tinto's Argyle Pink Diamonds debut in Indian retail

Rio Tinto has chosen to retail Argyle pink diamond jewellery in India, through the Nirav Modi salon in Mumbai, this being its sole distributor in the country at present. Argyle diamonds have been most sought after for their rarity and considering that the Argyle mine has only a decade of mine life left, and there being no new pink diamond mines or deposits, the demand for the Argyle pink is increasing across the globe.

The magnificence of this stone was highlighted at the launch with a showstopper piece - a signature ring entitled - The Shalimar Ring. This piece is crafted with 4.86 carats of Argyle pink diamonds with a 1.25 carat fancy vivid purplish pink round diamond in the centre (referred to as the hero of Argyle's 2009 exclusive Pink Diamonds Tender). The ring has been designed inspired by Laxmi, the India Goddess of Wealth, by Nirav Modi, and is valued at around US$2 million. According to Josephine Archer, Business manager of Argyle Pink Diamonds, " 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".

Nirav Modi is chairman of Firestone Diamond, a diamond jewellery designer, manufacturer and luxury retailer, with specialization in unique heirloom jewellery pieces. Firestone Diamond is an Authorised 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.