Recently, Fosun’s happiness and fashion platform, Yuyuan announced the acquisition of 80% of the shares of the International Gemological Institute (IGI).

Founded in 1975, IGI is headquartered in Antwerp, Belgium, and is a famous gemological training and jewelry appraisal institution. Under the unremitting efforts of its family shareholders, the institution has become a global diamond, gem, and jewelry appraisal and gemological training business that provides a wide range of services for its various partners in diamond-related sectors, including well-known diamond retailers. IGI is the first international gem identification institution, as well as the first world-class gem identification institution to make a place for itself in India, the world’s diamond cutting center. As of today, IGI has 23 laboratories and gemological schools around the world.

As the diamond market continues to grow, new partnerships will help IGI’s business develop and enhance its ability to serve the global diamond industry.

“The diamond and gemstone industry is developing steadily. As people’s demand for identification continues to grow, this investment will greatly promote our core business and open up more new opportunities around the world,” said Roland Lorié, CEO of IGI. “By integrating our resources, we will be better equipped to continue to provide consumers and retailers with information and guarantees to help them make decisions when buying jewelry.”

IGI is known for its gem and diamond appraisals as well as its gemological institutes, which offer courses related to fine diamonds, rough diamonds, colored gemstones, pearls, retail support, etc.

“We are very pleased to become partners with IGI as this provides us with a valuable opportunity for exchanges and cooperation with the world diamond industry,” said Xu Xiaoliang, Executive Director and Co-CEO of Fosun and Chairman of Yuyuan. “The family’s professionalism and long-term result has laid a solid foundation for ICI and given it human capital. We believe that IGI is ready to bring its gemological knowledge and expertise to emerging markets such as China. We are incredibly happy to be part of IGI’s future development during this time of exciting development in the jewelry industry.”