Luxury lab-grown diamond brand Astrea plans to enter Saudi Arabia early next year as demand for sustainable jewellery accelerates across the Gulf, according to founder and chief executive Natalie Morrison.
Morrison told Arabian Business that Astrea could open in Riyadh by February or March 2026, following the performance of its three new outlets in Dubai, including its flagship at the Mandarin Oriental Jumeira.
Astrea to enter Saudi market
“Ten per cent of the women at my charity rally this year were from Saudi, and they are crazy about lab diamonds,” she said. “They love the fact that it is sustainable and allows them to express themselves with freedom. Riyadh will probably be my next destination.”
The British entrepreneur said interest from Saudi women reflects a wider regional shift in consumer attitudes toward sustainable luxury and ethical sourcing.
“Saudi consumers are forward-thinking, value-driven and passionate about quality. The appetite there is incredible,” Morrison added.
Morrison, who co-founded Astrea in 2023, described Dubai as one of the fastest-growing markets for lab-grown diamonds globally, citing its pro-business environment and reputation for safety.
“You can wear big diamonds here and feel safe, which is a luxury today,” she said. “The government backs innovation and sustainability in a way that the world should envy.”
Astrea has grown rapidly in its first 18 months, achieving a £15 million valuation following new investment rounds and a global partnership with actress Sarah Jessica Parker, who owns 10 per cent of the company and serves as its creative director.
‘We have been lied to’
Morrison said she expects lab-grown diamonds to make up 75 per cent of the global market within the next four years, far earlier than industry forecasts that place the milestone closer to 2032. She called the sector’s growth “a revolution” and said she believes that it reflects a fundamental shift in consumer values.
“We have been lied to for so many years that diamonds were rare,” she said. “There are enough in the world for 8 billion people to each have half a carat and still have billions left. Lab-grown diamonds represent the fair price of what the industry should always have been.”
Astrea positions itself at the high end of the lab-grown market, focusing on D- and E-colour stones certified by leading gemological institutes such as IGI, GIA and GCal. She added that advances in technology now make it possible to produce diamonds of higher clarity and light performance than many natural stones.
The company is also exploring applications beyond jewellery, including watches and eyewear, and plans to launch a new Sarah Jessica Parker collection featuring coloured diamonds later this year.
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