Lev Leviev, an Israeli entrepreneur, is launching a diamond jewelry brand under his own name. Previously named Vivid, and mainly targeting private clients with an average sale price of around $20,000 per carat, the new Leviev brand will move into a broader area with categories of around $10,000 � 15,000 per carat.

The first Leviev store is set to open on 31 Old Bond Street in London by the end of next month. A second store, located at 698 Madison Avenue and 62nd Street, will open this autumn. The London store is only a few steps away from De Beers retail venture and that of other luxury brands, such as Graff and Mouawad.

"Given the known friendship between Leviev and the De Beers group, Leviev s move into the top-end segment of the market adds delicious piquancy for the observer," said Charles Wyndham, an industry expert. It must also raise concerns for other top-end jewelers. Like Laurent Graff, the successful dealer turned high-street jeweler, Leviev is a wholesaler moving into a selective segment of the jewelry market.