THE ROBB REPORT May 22, 2019 Grown Diamonds Now Rival Traditional Gems In Quality - and Their Sales Prove I
Diamonds grown in labs will amount for up to $420 million in sales this year.
Lab-Grown Diamonds are having a moment--and the market is taking notice. As consumers grow more and more concerned about the environmental and moral cost of the goods they buy, synthetic diamonds have become an increasingly popular alternative to traditionally mined stones. The numbers are bearing this out in a big way. Studies reveal that the market for lab grown diamonds have increased from 1% of the total market in 2016 to an estimated 2 to 3 percent today.
JCK ON LINE, May 22, 2019 Younger Consumers Expect Engagement Rings to Cost Less Then $2500
An overwhelming majority of Generation Z and millennial consumers feel an engagement ring should cost less then $2500, according to a new study from TD Ameritrade on young Americans and marriage, conducted by the Harris Poll.
PEOPLE MAGAZINE, JANUARY 15, 2019,
Meghan Markle Wears Lab-Grown, Ethical Diamonds:
'She Really Loved These Earrings'
Meghan Markle is continuing her focus on ethical fashion.
On her first official visit to one of four newly announced patronages Thursday, the Duchess of Sussex debuted a pair of bold earrings from new London-based brand Kimai, which specializes in lab-grown diamonds.
“It’s so exciting for us, especially as we just launched in November,” says Kimai co-founder Sidney Neuhaus. “Her team contacted us, and we sent them to her a month or so ago. She really loved these earrings.”
JEWELER, December 6, 2018,
JTV now selling lab-grown diamonds
The Knoxville, Tennessee-based company launched an assortment of about 50 styles with lab-grown stones to what it says are its 85 million viewers last week via its 24-hour a day, seven-day-a-week broadcast, as well as on JTV.com. The man-made diamond styles include pendant necklaces, stud and drop earrings and engagement and occasion rings.
“Our initial launch was received very positively,” JTV’s Chief Strategy Officer, Tim Engle, told National Jeweler. “We believe this is a true disrupter, and JTV is uniquely positioned to provide customers a trustworthy and high quality source.”
VOGUE MAGAZINE November 29, 2018
Can Lab-Grown Diamonds Become a Girl's Best Friend?
Technology has evolved so rapidly over the past five years, the industry has witnessed a boom in lab-grown diamonds - gemstones that are chemically and aesthetically identical to those found at the bottom of the Earth, yet can be produced in a matter of months. And with a younger, more ethically conscious generation coming of diamond-buying age, many argue that this environmentally-friendly, sustainable method is the best way of providing the world with its favorite gemstone...
Nadja Swarovski, matriarch of the legendary crystal manufacturer, says, "There's that belief that diamonds are rare and precious, and I think that its also going to be a generational thing. My mother would never buy a created diamond, but my daughters would only buy a created diamond."
BORN2INVEST, November 25, 2018,
YOUNG PEOPLE ARE DITCHING REAL DIAMONDS FOR LAB-GROWN JEWELS,
With the economy extremely tight and diamonds quite expensive, young people are turning to lab-grown alternatives for their wedding rings. Young people considering marriage in particular, millennials in their 20s, are questioning the cost of traditional diamond rings. They also have concerns about ethical issues related to diamond mining and many are now turning to lab-created diamonds for both wedding and engagement rings.
W Magazine, November 12, 2018,
Camila Mendes Wore the Largest Lab-Grown Pink Diamond in Existence to the People’s Choice Awards
Diamonds may be a girl’s best friend, but they are not on the best of terms with the environment. In just the past few months, in response to growing concerns about diamond mining’s impact on the earth and on the miners themselves, high-end jewelers and celebrity diamond enthusiasts have begun introducing synthetic jewels to their collections, with Camila Mendes the latest to try out the eco-friendly trend -- in pretty spectacular fashion. On Sunday, while attending the People’s Choice Awards in Los Angeles, the Riverdale star wore a ring on her right hand that featured the world’s largest lab-grown pink diamond, courtesy of the sustainable jewelry company Clean Origin.
And Mendes isn’t the only one hopping on the lab-grown diamond-filled bandwagon in recent months. Just last week, Elsa Hosk strutted down the runway at the 2018 Victoria’s Secret Fashion Show in New York City wearing this year’s illustrious fantasy bra, which, for the first time was made completely out of lab-grown diamonds. The Atelier Swarovski bra and coordinating body chain were valued at a whopping $1 million, and incorporated more than 2,100 lab-grown Swarovski diamonds; altogether, the stones weighed in at 71.05 carats, including a pear-shaped center stone that clocked in at 2.03 carats on its own.
CISION PR Newswire,
Couple Launches as First Luxury Lab-Grown Diamond Ring Brand
“There are a number of misconceptions about the lab-grown diamond industry that have come to light as a result of the FTC’s recent rulings. Namely, buying lab-grown doesn’t mean sacrificing quality – we’re talking about an identical product down to the chemical and atomic properties. With Couple, we aim to set the highest industry standard for diamonds by hand-selecting every stone…”
Wall Street Journal, October 27, 2018,
Diamond Mines are drying up. Are Lab-Grown Gems the Answer?
“…Martin Roscheisen, the chief executive of Diamond Foundry, a lab-grown diamond producer, says ‘Diamond miners are throwing in the towel… it’s got to be man-made in the future because mining is dead.” Paul Ziminsky, an independent diamond analyst ‘predicts that the lab-grown diamond market will increase to $15 billion a year by 2035, up from $1.9 billion today.’
GQ Magazine, October, 2018,
Lab-grown Diamonds: They ‘re Real and They’re Spectacular
“85% of our current growth is coming from engagement rings. What they can get in their price [range] for a mined compared to what they can get for an ALTR created, is so far apart, that once she knows they’re both real diamonds, the decision is so easy,” said Amish Shah (of ALTR), “That’s what’s pulling this whole business.”
JCK, THE INDUSTRY AUTHORITY, October, 2018,
Predictions for the Jewelry Business in 2019 and Beyond.
“Lab-grown diamonds have the same potential to rock the industry as quartz watch materials in the 1970s. Brands stuck in the mindset that the historic value placed on natural diamonds is enough to keep them afloat need to question if they fully understand what motivates their consumers’ purchase decisions and be willing to adapt to this changing market or risk losing business.”
New York Times, May 28, 2018,
‘Diamonds Are Forever’ and Made by Machine
De Beers is getting into the lab-created diamond business with a new line of fashion Jewelry and an aggressive pricing strategy. De Beers has introduced Lightbox, a fashion jewelry label selling (relatively) low-budget gems with mass-market appeal. (Think a sweet 16 gift, not an engagement ring)… Through its aggressive pricing and pointed marketing, De Beers clearly aims to be a dominant player in this growing market, while simultaneously protecting its core (natural diamond) business.
…This idea would have been unthinkable even two years ago, when De Beers was part of the “Real is Rare” campaign to combat the promotion of synthetic stones… which account for only 2 percent of the diamond industry’s supply. Analysts have forecast a possible rise to 10 percent by 2030… “Synthetics will never be as big as our natural business,” says Bruce Cleaver, chief executive of De Beers... (But) De Beers is currently building a $94 million plant in Oregon that is expected to generate a half a million rough (lab-grown) carats a year after its completion in 2020.
COSMOPOLITAN MAGAZINE, January 2018,
The difference between lab-grown and “real” diamonds
Shopping for diamond jewelry can be an overwhelming experience. Especially if you don’t know what you’re doing… the difference between a real diamond and a lab-grown is simple. A “real” diamond is unique and rare, formed a hundred miles below earth’s surface up to 3 billion years ago. Real diamonds undergo extraordinary environmental circumstances, bursting towards the earth’s surface through volcanic eruptions. They are miracles of nature.
A lab-grown diamond is a stone that mimics the optical and chemical properties of a natural diamond. They are not formed through natural occurrences, rather they are artificially produced in a factory in a matter of weeks… So which should you go for? The only type of diamond you should consider is a naturally-made ‘real’ stone.
While it would be almost impossible for the naked eye to tell the difference, your jeweler should disclose what kind of stone you are looking at. If in doubt, ask to see the certification.