https://www.scmp.com/rss/323737/feed The latest news and insight on Indian luxury jeweller Nirav Modi en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com In 2017, Nirav Modi featured on the Forbes rich list with an estimated net worth of US$1.8 billion. The founder of Firestar Diamond, and later his own Nirav Modi jewellery brand with stores around the world, definitely knew how to live large. From luxury bags to branded trunks, Modi only did “expensive”. But it all came crashing down in 2018, after he was accused of defrauding state-owned Punjab National Bank for millions. He left India and was later arrested in London, where he is currently... https://www.scmp.com/magazines/style/celebrity/article/3147885/5-things-nirav-modi-spent-his-cash-he-was-jailed-million?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3147885/5-things-nirav-modi-spent-his-cash-he-was-jailed-million?utm_source=rss_feed Wed, 08 Sep 2021 00:00:14 +0000 Disgraced diamond tycoon Nirav Modi on Monday won his bid to appeal his extradition from the UK to India to face claims he defrauded a major state bank out of billions of dollars, a move his lawyers said would damage his mental health. An appeal looking at the consequences to Modi’s state of mind is “reasonably arguable”, Judge Martin Chamberlain ruled. The decision is a blow to the Indian government that is seeking to charge the high-profile businessman on home turf, where Modi’s lawyers had... https://www.scmp.com/news/asia/south-asia/article/3144418/indian-diamond-tycoon-nirav-modi-wins-bid-appeal-extradition?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3144418/indian-diamond-tycoon-nirav-modi-wins-bid-appeal-extradition?utm_source=rss_feed Mon, 09 Aug 2021 12:33:07 +0000 A frenzied police manhunt in the Caribbean for fugitive Indian businessman Mehul Choksi, who was arrested in Dominica on Wednesday, has once again spotlighted the messy issue of India’s runaway billionaires. Choksi, owner of defunct Indian jewellery giant Gitanjali Group, had been on the run for more than three years. The 62-year-old is being investigated by India’s Central Bureau of Investigation – alongside his nephew and business partner Nirav Modi – on suspicion of embezzling funds from the... https://www.scmp.com/week-asia/people/article/3135215/indias-fugitive-billionaires-how-mehul-choksi-vijay-mallya-nirav?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3135215/indias-fugitive-billionaires-how-mehul-choksi-vijay-mallya-nirav?utm_source=rss_feed Fri, 28 May 2021 08:30:36 +0000 Netflix has won the right to stream a series featuring Indian tycoons who ran into trouble with the law – a victory that may boost its efforts to offer more local content in a crucial emerging market. An Indian court allowed the American streaming giant to release a bulk of the episodes in its Bad Boy Billionaires: India series, which documents the travails of beer tycoon Vijay Mallya, diamantaire Nirav Modi and Subrata Roy, founder-owner of the Sahara India Pariwar group. However, an episode on... https://www.scmp.com/magazines/style/news-trends/article/3104890/netflix-vs-indias-bad-boy-billionaires-us-streaming?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/3104890/netflix-vs-indias-bad-boy-billionaires-us-streaming?utm_source=rss_feed Sat, 10 Oct 2020 04:00:07 +0000 Priyanka Chopra was the face of his eponymous brand; Kate Winslet walked the Oscars red carpet sparkling in his diamonds; models Karlie Kloss and Kate Upton were fans of his designs. Indian jeweller Nirav Modi may have had a celebrity following, but the only people following him around these days are Indian law enforcement and Interpol – and maybe a few auction gawkers. View this post on Instagram A post shared by NIRAV MODI (@niravmodijewels) on May... https://www.scmp.com/magazines/style/luxury/article/3052033/want-hermes-birkin-bag-owned-nirav-modi-luxury-items-owned?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3052033/want-hermes-birkin-bag-owned-nirav-modi-luxury-items-owned?utm_source=rss_feed Mon, 24 Feb 2020 06:00:06 +0000 The Punjab National Bank scandal is likely to cost India’s second largest state-owned lender about US$2 billion. Sale of assets seized from the alleged perpetrators including diamond designer Nirav Modi, starting this month, suggests a long road to recovery. Through the Enforcement Directorate, the agency responsible for fighting economic crime in India, the government has engaged Mumbai-based Saffronart to auction a litany of luxury goods to recoup its losses. The list includes prized artworks... https://www.scmp.com/business/companies/article/3050485/nirav-modi-punjab-national-bank-scandal-rolls-royce-and-rise?utm_source=rss_feed https://www.scmp.com/business/companies/article/3050485/nirav-modi-punjab-national-bank-scandal-rolls-royce-and-rise?utm_source=rss_feed Fri, 14 Feb 2020 02:30:10 +0000 Carlos Ghosn’s stunning escape from Japan makes him one of the most famous white-collar fugitives in recent years, joining the likes of Malaysian businessman Jho Low and Indian tycoon Vijay Mallya. The former head of Nissan and Renault, who was facing trial in Japan for financial crimes, defended the move by saying in a statement that he will “no longer be held hostage by a rigged Japanese justice system”. It is unclear how Ghosn escaped as he had been under house arrest and close surveillance... https://www.scmp.com/news/asia/article/3044153/jho-low-skase-ghosn-and-king-good-times-most-notorious-white-collar?utm_source=rss_feed https://www.scmp.com/news/asia/article/3044153/jho-low-skase-ghosn-and-king-good-times-most-notorious-white-collar?utm_source=rss_feed Tue, 31 Dec 2019 20:35:05 +0000 Few things can hold back an economy as effectively as a bloated public sector and mismanaged government finances. India has both of these problems. Even the government’s own auditor, the comptroller and auditor general, has pointed out problems in the budget. Let us start with the oversized public sector. The government runs numerous “businesses” called public-sector undertakings, which operate in industries such as telecommunications, banking, construction and petroleum. Almost all make losses... https://www.scmp.com/comment/opinion/article/3021516/indian-government-cannot-be-trusted-tell-truth-about-its-finances?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3021516/indian-government-cannot-be-trusted-tell-truth-about-its-finances?utm_source=rss_feed Sun, 11 Aug 2019 04:00:08 +0000 In JuLY this year, Paul Alfonso and his girlfriend drove to Vancouver’s Stanley Park after dinner at Chang’An, a Chinese fine-dining restaurant known for its Peking duck. It was a quiet and warm night, one that invited a walk outside. Alfonso, 36, pulled over by the Brockton Point Lighthouse, while he mustered the courage to ask a question that would change both their lives – but not in the way he expected. “I was so nervous. After chatting for about 10 minutes, I took the ring out and proposed... https://www.scmp.com/week-asia/society/article/2166785/fake-hong-kong-diamonds-nirav-modi-cost-me-us200000-and-my-fiancee?utm_source=rss_feed https://www.scmp.com/week-asia/society/article/2166785/fake-hong-kong-diamonds-nirav-modi-cost-me-us200000-and-my-fiancee?utm_source=rss_feed Sun, 07 Oct 2018 00:00:15 +0000 Indian authorities on Monday said they had seized assets of fugitive billionaire jeweller Nirav Modi worth some US$87 million, piling pressure on one of the main suspects in a US$1.8-billion fraud at a major state-run bank. The seized assets included overseas bank accounts and diamond-studded jewellery to the tune of US$3.1 million that had been brought back to India from Hong Kong in 23 shipments, the Enforcement Directorate (ED) said. The jewellery had been shipped out after Indian federal... https://www.scmp.com/news/asia/south-asia/article/2166516/indian-fugitive-billionaire-nirav-modis-assets-seized-london?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/2166516/indian-fugitive-billionaire-nirav-modis-assets-seized-london?utm_source=rss_feed Mon, 01 Oct 2018 10:06:23 +0000 An Indian state-owned bank has taken fugitive billionaire jeweller Nirav Modi to court in Hong Kong after two of his companies allegedly defaulted on more than US$5.49 million (HK$42.8 million) in credit facilities. Union Bank of India claimed in a writ filed at the High Court on Wednesday that the Mumbai-born businessman, wanted over a massive financial scam in his home country, guaranteed two loans made to Firestone Trading Private on October 21, 2011 and Firestar Diamond on November 15,... https://www.scmp.com/news/hong-kong/law-and-crime/article/2166074/state-owned-union-bank-india-takes-fugitive-jeweller?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/2166074/state-owned-union-bank-india-takes-fugitive-jeweller?utm_source=rss_feed Thu, 27 Sep 2018 14:45:15 +0000 The opening of Nirav Modi’s jewellery store on New York’s Madison Avenue in the autumn of 2015 attracted A-listers from actress Naomi Watts to Donald Trump Jnr.  It also celebrated the expansion of an Indian business that is now near ruin amid an investigation into an alleged US$2 billion fraud. Seeing the environment here [in India] today – political, personal, social factors and security factors – I am myself not in a position to advise my client to return Vijay Aggarwal, Nirav Modi’s... https://www.scmp.com/magazines/style/news-trends/article/2138152/diamond-tycoon-behind-indias-alleged-us2-billion-fraud?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/2138152/diamond-tycoon-behind-indias-alleged-us2-billion-fraud?utm_source=rss_feed Thu, 22 Mar 2018 03:02:05 +0000 Luxury jewellers have always focused on comfort. Nirav Modi’s Embrace collection, for example, is inspired by elastic toy bangles. Rendered in white gold, yellow gold, rose gold and pink gold, the bangles are stretchable to make them easy to wear and mix and match. Nirav Modi introduces Luminance Bracelet with charms The Embrace family is now updated with plain gold bangles in addition to diamond-studded ones. The plain gold ones are more versatile for everyday wearing. https://www.scmp.com/magazines/style/watches-jewellery/article/2117136/nirav-modis-embrace-collection-features-versatile?utm_source=rss_feed https://www.scmp.com/magazines/style/watches-jewellery/article/2117136/nirav-modis-embrace-collection-features-versatile?utm_source=rss_feed Sun, 29 Oct 2017 03:17:10 +0000 Your company merges Eastern and Western influences together. How do you balance the fusion of these two worlds? I grew up in Belgium and frequently visited museums in Rome, Paris, Brussels and Barcelona with my mother who is an interior decorator and this piqued my interest in art, architecture and culture from around the world. Yes, this is an Indian brand but our jewellery aesthetic isn’t Indian. Our designs have Indian inspirations as well as other European [and] global influences. For... https://www.scmp.com/magazines/style/article/2086355/nirav-modi-ceo-sets-sights-greater-china-jewellery-market?utm_source=rss_feed https://www.scmp.com/magazines/style/article/2086355/nirav-modi-ceo-sets-sights-greater-china-jewellery-market?utm_source=rss_feed Mon, 10 Apr 2017 06:30:45 +0000 Priyanka Chopra embodies all the symbols of modern India, says the brand’s founder and creative director. The contemporary beauty quickly rose to stardom by her role in ABC’s thrilling drama as a young government agent. Chopra starred in Nirav Modi’s February campaign marking her debut of the brand’s global brand ambassador. Want more articles like this? Follow STYLE on Facebook https://www.scmp.com/magazines/style/news-trends/article/2072614/hollywood-star-priyanka-chopra-sparkling-new-face?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/2072614/hollywood-star-priyanka-chopra-sparkling-new-face?utm_source=rss_feed Tue, 21 Feb 2017 07:30:15 +0000 To celebrate the festive season, Nirav Modi has added the Luminance Bracelet With Charms to its Luminance collection. The Luminance Charm Pendant, Mughal Charm Pendant and Lotus Charm Pendant can be added as auxiliary charms to the bracelet. The Luminance Bracelet With Charms incorporates diamonds with varied facets which reflect light in different ways. The Luminance Charm Pendant incorporates brilliant cut diamonds set sporadically in the brand’s signature Pixie setting. The two Mughal Charm... https://www.scmp.com/magazines/style/watches-jewellery/article/2058643/nirav-modi-introduces-luminance-bracelet-charms?utm_source=rss_feed https://www.scmp.com/magazines/style/watches-jewellery/article/2058643/nirav-modi-introduces-luminance-bracelet-charms?utm_source=rss_feed Mon, 02 Jan 2017 03:00:15 +0000 Gemstones are the visible face of high jewellery, displaying their natural beauty to dazzling effect. These gems hold intrinsic value, but painstaking techniques and extraordinary craftsmanship give them heightened worth. Cartier’s Paris workshop is a hotbed of artisanal craftsmanship where gem cutting, glyptics and figurative artworks are exquisitely applied. Such skills are driven by an innovative and creative team, and they are instrumental in audacious high-jewellery collections, says image,... https://www.scmp.com/magazines/style/watches-jewellery/article/2051129/gems-gain-worth-thanks-painstaking-craftsmanship?utm_source=rss_feed https://www.scmp.com/magazines/style/watches-jewellery/article/2051129/gems-gain-worth-thanks-painstaking-craftsmanship?utm_source=rss_feed Fri, 02 Dec 2016 07:15:30 +0000 Followed by its debut at the Biennale des Antiquaires 2016, Indian luxury jeweller Nirav Modi made another “first” by opening its first international flagship store in Hong Kong. The 3,000 sq ft boutique, located at the city’s luxurious shopping landmark 1881 Heritage, is designed to embody the house style of intricacy and fluidity, complemented by the dazzling displays of the house’s signature jewellery. In celebration of the opening, the house exhibits for the first time in Hong Kong during... https://www.scmp.com/magazines/style/news-trends/article/2041554/nirav-modi-opens-its-first-international-flagship-store?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/2041554/nirav-modi-opens-its-first-international-flagship-store?utm_source=rss_feed Thu, 03 Nov 2016 03:15:45 +0000 Indian luxury jewellery brand Nirav Modi is set to unveil a 3,000 square foot flagship store in 1881 Heritage, a premier shopping arcade at the heart of Tsim Sha Tsui owned by Cheung Kong Property, following a discount on rent of more than 20 per cent from the peak of the market. Nirav Modi, billionaire founder of the Indian diamond house, also known as India’s “Diamond King”, told the South China Morning Post on Tuesday that falling prime retail rents in Hong Kong had offered an attractive... https://www.scmp.com/business/companies/article/2040044/what-retail-slowdown-indias-diamond-king-nirav-modi-launch?utm_source=rss_feed https://www.scmp.com/business/companies/article/2040044/what-retail-slowdown-indias-diamond-king-nirav-modi-launch?utm_source=rss_feed Wed, 26 Oct 2016 01:00:00 +0000 They say beauty has no limit, a saying that holds true for these unique creations unveiled this year. Made with diamonds and crafted to perfection by way of each maison’s savoir-faire, each high-jewellery piece is a work of art in its own right. We take a look at some of the most exquisite diamond pieces that debuted this year. CARTIER Set with diamonds and carved rock crystals, Cartier’s bracelet is a sight to behold. This beauty hides within it a clever secret: the 31.16ct internally flawless... https://www.scmp.com/magazines/style/topics/diamonds-investment/article/2018920/jewellery-meets-art-luxury-brands?utm_source=rss_feed https://www.scmp.com/magazines/style/topics/diamonds-investment/article/2018920/jewellery-meets-art-luxury-brands?utm_source=rss_feed Tue, 13 Sep 2016 05:15:15 +0000 India's first luxury jewellery house Nirav Modi is adding another first-in-India achievement to its growing list. The maison will debut at La Biennale des Antiquaires fair in Paris to present its high-jewellery collection. From September 10 to 18, Nirav Modi will exhibit its spectacular creations of dazzling jewellery known for their lightness and intricacy. Highlights include the new Emerald Maharani necklace which features three strands of graduated emerald beads totalling 873ct, adorned with... https://www.scmp.com/magazines/style/news-trends/article/2008417/impressive-first-indian-luxury-jewellery-house-nirav?utm_source=rss_feed https://www.scmp.com/magazines/style/news-trends/article/2008417/impressive-first-indian-luxury-jewellery-house-nirav?utm_source=rss_feed Thu, 01 Sep 2016 13:30:15 +0000 There's a new jeweller on the block. Nirav Modi is the latest to join the list of high-end jewellers at Elements mall. The brand's first boutique in Asia is meticulously designed, offering an exclusive experience for customers. The store will showcase many of Modi's intricate designs, including pieces featuring his patented diamond cuts, such as the Jasmine Cut and Lotus Cut. Also available are unique high-jewellery pieces and a curated selection of bridal jewellery. https://www.scmp.com/magazines/style/article/1862766/jewellery-designer-nirav-modi-opens-shop-elements-mall?utm_source=rss_feed https://www.scmp.com/magazines/style/article/1862766/jewellery-designer-nirav-modi-opens-shop-elements-mall?utm_source=rss_feed Thu, 08 Oct 2015 14:00:30 +0000