This article first appeared in the JNA March/April 2024 issue.

Harsh Maheshwari’s inspired journey into the world of fancy colour diamonds has paved the way for many dazzling opportunities that ultimately led him to becoming a rising industry pillar.

As executive director of Kunming Diamonds, a company built in the 1980s by his father, Ajay Maheshwari, Harsh is further enriching the family legacy through his passion and drive for success, and patented brand of leadership.

Young and adventurous, he incorporates modern technology and marketing strategies into everyday operations. Such are the hallmarks of Harsh’s innovative approach to business.

A graduate gemmologist from the Gemological Institute of America, he also trained in artisanal jewellery making in Florence, Italy and gained experience in mass jewellery manufacturing at a factory in India and diamond polishing in Israel.

“These diverse experiences not only honed my skills but also ignited a profound passion and clarity regarding my aspirations,” revealed Harsh. “These solidified my resolve to carve a niche for myself within the industry, one that would allow for personal and professional growth while making a distinct mark in the world of natural fancy colour diamonds.”

A born leader

Among the highlights of his career was Kunming Diamonds’ expansion to the US market in 2014, which entailed establishing a satellite office in New York. This enabled the company to widen its reach beyond Asia and build stronger ties with clients and partners in the US.

Kunming Diamonds also bolstered its participation in international shows, fuelled by a determination to raise awareness about fancy colour diamonds. At these exhibitions, the company would engage with a broader audience, connect with leading jewellery houses and foster collaborations with celebrated jewellery designers.

Another feather in his cap was Kunming Diamonds’ appointment as an Authorized Partner for Argyle Pink Diamonds by Rio Tinto in 2020. Harsh said, “This affirmed our credibility within the industry and positioned us as a trusted and esteemed custodian of the rarest pink, red and violet diamonds from Australia.”

Harsh is also at the forefront of Kunming Diamonds’ ethical commitments. A member of the Responsible Jewellery Council (RJC) since 2017 and a certified and audited RJC member since 2019, and a recent addition to the World Diamond Council (WDC) since 2023, Kunming Diamonds consistently upholds the highest ethical standards in its operations as well as its dedication to responsible practices. Kunming Diamonds is so far the only fancy colour diamond specialist to have joined WDC, based on data from WDC's website.

“These milestones not only elevated our company but also made a meaningful impact on the diamond industry. These achievements were a result of the collective efforts of a dedicated team, and they stand as testaments to our commitment to excellence and innovation,” he noted.

Sparkling future

Harsh is aiming to expand Kunming Diamonds’ global foothold, particularly in new markets, over the next five years. Achieving carbon-neutrality and emphasising transparency in diamond sourcing are also top priorities. He added, “Venturing into rough diamond sourcing and manufacturing, we aim to establish end-to-end traceability. Furthermore, we are focused on extending our technological advancements to select clients through a user-friendly website and app, enhancing accessibility and transparency in our operations.”

Top challenges facing the diamond industry:

The Group of Seven (G7) sanctions on Russian diamonds introduced complexities in ensuring ethical practices and maintaining the chain of custody for diamonds. Accurate tracing of diamond origins is a big challenge in the industry. There are also limited resources for blockchain education and implementation, which are crucial to enhancing traceability in the diamond industry. Another challenge is raising awareness and engagement with younger buyers. The industry faces the task of redefining the appeal and relevance of diamonds to attract and engage younger consumers. 

Opportunities:

Embracing ethical sourcing can be a unique selling point and help attract socially conscious consumers and foster brand differentiation. Meeting the demand for customisable products, providing unique experiences, and catering to evolving consumer preferences can also help revitalise market demand. Companies, meanwhile, should leverage digital platforms for marketing, e-commerce, and customer engagement, and offering a direct-to-consumer approach while maintaining the allure of the traditional diamond industry. 

This story is part of a series of ‘New Era of Leaders’ profiles in JNA March-April 2024. Click here to view the other profiles.