Amaar Jewels Acquires Australian Lab‑grown Diamond Retailer Secrets Shhh, Rebranding as Secrets by Amaar

Why It Matters

The partnership accelerates the global rollout of sustainable luxury diamonds, aligning with rising consumer demand for ethically sourced jewelry and expanding market share in a fast‑growing segment.

Key Takeaways

• Rebrand to Secrets by Amaar after Dubai partnership.
• Access to retail network in five new regions.
• Retains 16 Australian stores and e‑commerce platform.
• Lab‑grown diamonds now 46% of market share.
• Sustainability drives 76% Australian buying decisions.

Pulse Analysis

The lab‑grown diamond market has undergone a dramatic transformation, moving from a niche offering to a mainstream choice for consumers seeking ethical luxury. By 2023, synthetic stones accounted for nearly half of all engagement‑ring purchases worldwide, driven by advances in manufacturing technology and a growing awareness of the environmental impact of mined diamonds. In Australia, where sustainability now influences three‑quarters of buying decisions, retailers that can combine high‑quality design with transparent sourcing are poised to capture premium demand.

Secrets by Amaar’s new alliance with Amaar Jewels leverages complementary strengths: Australian brand heritage and a robust omni‑channel presence, paired with Amaar’s extensive distribution network across the Middle East and Asia‑Pacific. The rebranding signals a unified market identity, enabling the combined entity to roll out consistent product assortments, shared marketing narratives, and cross‑border e‑commerce capabilities. Retail locations in Dubai, Hong Kong and emerging markets such as Iraq and Kuwait will introduce Australian‑styled lab‑grown collections to consumers who value both luxury aesthetics and responsible sourcing.

Industry observers view the deal as a bellwether for consolidation in the synthetic gemstone space. As major players seek scale, partnerships that align on sustainability philosophy and provide rapid geographic expansion become critical. Investors are likely to monitor revenue growth from the newly opened markets, while competitors may accelerate their own cross‑regional collaborations to avoid losing market share. Ultimately, the Secrets by Amaar model could set a template for how lab‑grown diamond brands achieve global reach without compromising their ethical credentials.

Deal Summary

Dubai‑based Amaar Jewels has acquired Australian lab‑grown diamond retailer Secrets Shhh, rebranding the business as Secrets by Amaar. The deal gives Amaar access to Secrets Shhh’s 16 Australian stores and e‑commerce platform and expands its retail network across the UAE, Kuwait, Iraq, Hong Kong and India. The acquisition was announced on March 3 2026.