Charles & Colvard

Charles & Colvard, Ltd. is an American jewelry manufacturer, distributor, and former direct-to-consumer retailer best known for introducing synthetic moissanite to the jewelry market. The company was founded in North Carolina in 1995 by Charles Eric Hunter under the name C3 Inc. Its early business centered on developing and commercializing gem-quality silicon carbide crystals, a material capable of producing a durable, diamond-like gemstone with distinctive optical properties. The company obtained protection for its moissanite technology through U.S. patent US5723391 A and became the first company to produce and sell synthetic moissanite as a jewelry gemstone. The business adopted the Charles & Colvard name in 1999. Charles Eric Hunter's brother, Jeff Hunter, led the company until 2000, after which the organization expanded its product development, distribution, and retail activities. Rather than mining natural stones, Charles & Colvard built its identity around laboratory-created moissanite, presenting the material as an alternative to diamond and other traditional gemstones. Its jewelry range has included engagement rings, wedding bands, earrings, necklaces, bracelets, and loose gemstones, sold through company channels, third-party retailers, and branded collections. A significant part of the company’s competitive position depended on access to high-quality silicon carbide feedstock. Since 2014, its gemstones have been supplied under an exclusive agreement with Cree Inc., a major semiconductor and materials company. Charles & Colvard marketed several grades and styles of moissanite, including Classic Moissanite, Forever Brilliant, Hearts & Arrows, and the Survivor Collection. The broader brand portfolio has also included Moissanite.com and Lulu Avenue, reflecting attempts to reach customers through online retail and separate jewelry-selling channels. Charles & Colvard became a publicly traded company and continued to report its business through a mixture of manufacturing, wholesale, and direct-to-consumer commerce. For the fiscal year ended June 30, 2019, it reported revenue of $32.4 million, compared with $27.91 million in the prior year. In June 2019, the company raised approximately $10 million through a secondary public offering. These figures reflected a period in which the company was investing in branded jewelry, online sales, and the wider consumer recognition of laboratory-created gemstones. The company subsequently faced financial and operational pressure. In March 2020, Charles & Colvard was notified that it risked delisting from Nasdaq because its share price had remained below the exchange’s minimum threshold. That same year, Suzanne T. Miglucci resigned as chief executive and Don O’Connell was appointed CEO. The transition followed quarterly results that included a $5.3 million write-off. During the COVID-19 pandemic, the company furloughed approximately half of its employees and received a $965,000 Paycheck Protection Program loan backed by the federal government. The loan prompted public scrutiny because the recipient was a publicly traded company, although many businesses across the United States received similar pandemic assistance. Reference material also reports that Charles & Colvard filed for Chapter 11 bankruptcy protection in March 2026 after substantial losses beginning in 2023, attributed primarily to intensified competition from jewelry retailers and changing conditions in the laboratory-created gemstone market. In April 2026, the company reportedly agreed to sell its assets to Van Lang Jewelry and Jewelry Design Partners for $1.5 million, with closing expected by July 7. Because these later proceedings may affect the company’s legal existence, brand ownership, and operating status, its present status should be verified against current court, securities, and company filings.

Charles & Colvard began in North Carolina in 1995 as C3 Inc., founded by Charles Eric Hunter. Its initial business focused on the development and commercialization of synthetic moissanite, a gemstone made from silicon carbide crystals. The company’s technology was associated with U.S. patent US5723391 A, and it became the first business to produce and sell synthetic moissanite for jewelry applications. The company changed its name to Charles & Colvard in 1999. Charles Eric Hunter’s brother, Jeff Hunter, ran the company until 2000. Over time, the business developed from a gemstone technology venture into a jewelry manufacturer, distributor, and retailer. Its products included loose stones and finished jewelry such as rings, earrings, necklaces, bracelets, and wedding jewelry. The company’s central commercial proposition was that laboratory-created moissanite could provide a distinctive and durable alternative to mined diamonds and other traditional gemstones. Charles & Colvard’s supply chain was tied to specialized silicon carbide production. In 2014, it entered an exclusive supply arrangement with Cree Inc. for the crystals used in its gemstones. The company promoted different moissanite grades, cuts, and collections, including Classic Moissanite, Forever Brilliant, Hearts & Arrows, and the Survivor Collection. It also operated or developed related brands and channels such as Moissanite.com and Lulu Avenue. The company became publicly traded and pursued both wholesale and direct-to-consumer growth. It reported fiscal-year revenue of $32.4 million for the year ended June 30, 2019, up from $27.91 million in the preceding year. In June 2019, it raised roughly $10 million in a secondary offering. The following period was more difficult. In March 2020, Charles & Colvard received a Nasdaq warning related to a share price that had remained below the exchange’s minimum requirement. In May 2020, Don O’Connell was named CEO after Suzanne T. Miglucci’s departure. The transition followed results containing a $5.3 million write-off. The COVID-19 pandemic disrupted the company’s operations. Charles & Colvard furloughed approximately half of its employees beginning in April 2020 and received a $965,000 Paycheck Protection Program loan. Media coverage questioned the receipt of government-backed assistance by a publicly traded company, particularly while privately held small businesses were also seeking emergency support. The company also maintained a $5 million line of credit established in 2018. Reference material states that the company experienced substantial losses from 2023 onward, in part because of increased competition from jewelry retailers. It reportedly sought Chapter 11 protection in March 2026 and agreed the following month to sell its assets to Van Lang Jewelry and Jewelry Design Partners for $1.5 million. These developments mark a major change from the company’s earlier identity as an independent publicly traded moissanite specialist. The final legal status of the Charles & Colvard brand, its assets, and its operating business requires confirmation from current bankruptcy and corporate filings.

• 2026

  Chapter 11 filing and proposed asset sale

  [1]Charles & Colvarden.wikipedia.org

  Reference material reports a Chapter 11 filing followed by an agreement to sell company assets to Van Lang Jewelry and Jewelry Design Partners.

• 2020

  Leadership transition and pandemic disruption

  [1]Charles & Colvarden.wikipedia.org

  Don O’Connell became CEO, while the company dealt with a Nasdaq compliance warning, a major write-off, employee furloughs, and a Paycheck Protection Program loan.

• 2019

  Secondary offering raises approximately $10 million

  [1]Charles & Colvarden.wikipedia.org

  Charles & Colvard reported approximately $10 million in net proceeds from a secondary public offering.

• 2018

  Credit facility established

  [1]Charles & Colvarden.wikipedia.org

  Reference material identifies a $5 million line of credit that remained available during the 2020 pandemic period.

• 2014

  Exclusive silicon carbide supply arrangement

  [1]Charles & Colvarden.wikipedia.org

  The company began sourcing its gemstone crystals from Cree Inc. under an exclusive agreement.

• 2000

  Jeff Hunter’s leadership period ends

  [1]Charles & Colvarden.wikipedia.org

  Jeff Hunter, the founder’s brother, ceased running the company after leading it through its early years.

• 1999

  Name changed to Charles & Colvard

  [1]Charles & Colvarden.wikipedia.org

  The company adopted the Charles & Colvard name as it developed its commercial identity around synthetic moissanite.

• 1995

  Company founded as C3 Inc.

  [1]Charles & Colvarden.wikipedia.org

  Charles Eric Hunter founded the North Carolina company that would become Charles & Colvard, initially operating under the name C3 Inc.

A specialist jewelry company built around laboratory-created moissanite as a diamond alternative, combining proprietary gemstone heritage with branded fine jewelry and direct-to-consumer distribution.

• Moissanite gemstone

  Classic Moissanite

  Classic Moissanite was one of Charles & Colvard’s named gemstone offerings. It represented the company’s core use of laboratory-created silicon carbide crystals in finished jewelry and loose-stone formats, and supported the brand’s long-standing positioning of moissanite as an alternative to mined diamond.

• Moissanite gemstone

  Forever Brilliant

  Forever Brilliant was a branded moissanite range associated with Charles & Colvard’s effort to distinguish gemstone grades and visual characteristics within its portfolio. It was used in jewelry products designed for customers seeking a laboratory-created center or accent stone.

• Cut moissanite gemstone

  Hearts & Arrows

  Hearts & Arrows was a named cut or collection emphasizing precision faceting and optical patterning. It formed part of Charles & Colvard’s attempt to communicate craftsmanship and cut quality rather than selling moissanite only as a generic diamond alternative.

• Jewelry collection

  Survivor Collection

  The Survivor Collection was one of the company’s branded jewelry lines. Available reference material identifies it as part of the Charles & Colvard portfolio, but does not provide enough detail to characterize its individual designs, launch date, or current availability.

• E-commerce brand and retail channel

  Moissanite.com

  Moissanite.com was a Charles & Colvard-related brand and online sales channel focused on moissanite jewelry and gemstones. It extended the company’s direct-to-consumer presence beyond its corporate identity and supported online distribution of its core product category.

• Jewelry retail brand

  Lulu Avenue

  Lulu Avenue was a related jewelry brand associated with Charles & Colvard. The available material identifies it as part of the company’s brand portfolio but does not establish a complete product range, operating period, or current ownership.

• 2026

  Chapter 11 restructuring and proposed asset saleOther

  Background

  Reference material attributes substantial losses since 2023 primarily to increased competition from jewelry retailers.

  Action taken

  Charles & Colvard reportedly filed for Chapter 11 protection and agreed to sell its assets to Van Lang Jewelry and Jewelry Design Partners.

  Aftermath

  The proposed transaction would transfer the company’s assets for $1.5 million, subject to closing and bankruptcy-process requirements.

  Proposed asset sale price. $1.5 million (April 2026; proposed closing by July 7, 2026)

  Source

• 2020

  Pandemic cost and liquidity responseStrategy

  Background

  The COVID-19 pandemic disrupted retail and operating conditions, while the company also faced a Nasdaq share-price compliance warning.

  Action taken

  The company furloughed approximately half of its employees, obtained a $965,000 Paycheck Protection Program loan, and retained access to a previously established $5 million credit line.

  Aftermath

  The measures provided short-term support but did not prevent later reported losses and bankruptcy proceedings.

  Paycheck Protection Program loan. $965,000 (2020)

  Source

• 2019

  Secondary public offeringOther

  Background

  The publicly traded company sought additional capital during a period of branded jewelry and direct-to-consumer activity.

  Action taken

  It completed a secondary offering that produced approximately $10 million in net proceeds.

  Aftermath

  The financing provided additional capital, although later reference material describes significant financial pressure beginning in 2023.

  Net proceeds. $10 million (June 2019)

  Source

• 2014

  Exclusive crystal supply arrangement with CreeStrategy

  Background

  Producing consistent gem-quality moissanite required access to specialized silicon carbide crystals.

  Action taken

  Charles & Colvard obtained gemstone crystals from Cree Inc. under an exclusive agreement.

  Aftermath

  The arrangement supported the company’s supply of laboratory-created moissanite for its jewelry and loose-stone businesses.

  Source

• 1999

  Rebrand from C3 Inc. to Charles & ColvardStrategy

  Background

  The company had been founded as C3 Inc. while developing synthetic moissanite technology and needed a commercial identity for its jewelry business.

  Action taken

  It changed its corporate name to Charles & Colvard.

  Aftermath

  The Charles & Colvard name became the company’s principal consumer-facing identity.

  Source

• 2020-05-29

  Charles & Colvard announces CEO appointment[2]Charles & Colvard宣布任命首席执行官finance.yahoo.com

  Reported: 2020-05-29

  Charles & Colvard announced that its board appointed Don O'Connell as president and chief executive officer, effective June 1, 2020; he would also join the board.

1. 1Charles & Colvarden.wikipedia.org
2. 2Charles & Colvard宣布任命首席执行官finance.yahoo.com