This article first appeared in the GEMSWORLD 2024.

Headquartered in Hong Kong, Miranda Group Co Ltd has built a solid reputation in the trade for its expansive array of layouts featuring exquisitely cut and matched gems. At the heart of these are Paraiba tourmaline, aquamarine, morganite, rubellite, and pink and green tourmaline, to name a few.

The company caters to a wide range of customers comprising leading international jewellery brands and designers, primarily in the US.

According to Miranda Group Director Cam Li, demand for high-quality gems from the US, Switzerland, Italy, Taiwan, Hong Kong, China and India was robust in 2023. In particular, the coloured gemstone specialist has made significant strides in India, Japan and Taiwan. It is also training its sights on other promising markets such as Malaysia, Vietnam and China, noted Li.

“A dedicated team is being assembled to handle our expansion efforts in Asia. We will also actively participate in international fairs, leveraging these platforms to showcase our offerings and explore new business opportunities,” Li remarked.

New collections

The colour blue is well-loved in the market, leading to steady demand for Paraiba tourmaline, aquamarine and other blue gems, revealed the company official.

“Blue stones possess a remarkable ability to shine on their own or sparkle in harmony with other colours. Thus, they are always highly sought after” she explained.

Li also cited consistent requests for pink and green gemstones. Notably, pink and mint green tourmaline stones are moving fast while demand for other gems such as morganite is likewise on the rise.

“Designers as well as mid-range to top jewellery brands are consistently seeking new, good-quality gems, attractive colour combinations as well as good to excellent cuts and polish, to produce exciting collections. This has been instrumental to driving demand throughout 2023,” Li explained.

A vertically integrated company, Miranda Group sources raw materials from its own and associate mines in Brazil, Mozambique and Nigeria; processes these at its Hong Kong workshop under the supervision of a Brazilian master gemstone cutter; and then polishes the stones at its factory in China. All polished gemstones are then returned to Hong Kong for international distribution.

According to Li, the company launched eight new collections in 2023 to meet growing demand from Europe and Asia. The collections – Paraiba, Amazon, Blue Planet, Ocean, Carnival, Barbie, Fire and Rainbow – consist of more than 300 layouts of fine-quality, carefully selected and matched coloured gemstones.

The leading collection, Carnival, offers meticulously arranged layouts of diverse gemstones with matching colour tones in uniform or complementary cuts and shapes. These gems, including morganite, kunzite, aquamarine, tanzanite stones and Paraiba tourmalines, come in various gradations, sizes and colours, providing a diverse array of options to suit individual preferences.

“Our customers appreciate our efforts to assist them in creating cohesive collections. With our meticulously curated layouts, they can produce an entire set or line without worrying about matching colours and cuts,” Li said.

Besides its signature layouts, Miranda Group introduced special boxes consisting of single pieces, matched pairs and sets of Paraiba tourmalines from its own mines in the fourth quarter of 2023.

The mines

Li described the gemstone market in 2023 as “conservative,” owing to global uncertainties such as rising inflation, natural disasters, lacklustre consumption and geopolitical issues. “Despite these challenges, our sales have been increasing steadily as the market continues to seek good-quality gemstones. By sourcing directly from our own mines and associate mines, we were able to meet market demand for premium goods,” she said.

Looking ahead, the company is advancing its mining projects to ensure a sustainable supply of high-quality gemstones and further solidify its position in the market.

It also plans to implement its Brazil Paraiba Batalha mine project this year while a full-scale production of Paraiba tourmalines in Mozambique is expected to likewise commence in 2024.

“Paraiba tourmalines from Brazil have become highly sought after in the market in recent years, but low production has created constraints in meeting demand. We are thus excited about the impending production boost from our new mine projects,” Li said.