Last week we saw a few big announcements for both domestic and international markets of lab-grown diamonds. From luxury to mass-orientired jewelry, the news has the potential to move different parts of the industry forward.
Swiss brand of luxury watches Breitling introduced Super Chronomat Automatic 38 Origins which is set with lab-grown melee diamonds. The company is now dedicated to switching to sustainable material for their products. This is why ethically sourced gold is also applied for the watch. Breitling implemented the traceability policy for all their materials, and every timepiece of this series will come with the certificate of origins. According to the brand’s CEO Gerges Kern, man-made diamonds will be used for all Super Chronomat pieces. The company is planning tol fully transition to only applying lab-grown stones for their watches by 2024. This decision is made to ensure the complete traceability and ethics of their product. All the applied lab-created gems are rated sustainable by SCS Global Services. The watch retails at nearly $20.000.
This announcement marks another luxury brand that is starting to implement lab-grown diamonds for their products, which further disproves the theory that manufactured gemstones will end up being used only for fashion jewelry. While more and more fine and status jewelry pieces are made with man-made diamonds, the demand for fine bridal pieces with lab-created central stones will only increase.
Famous for their crystal jewelry, Swarovski unveiled the lab-grown diamond collection in their stores across the US and Canada. The Created Diamonds line will feature earrings, rings, necklaces, and bracelets with stones weighing 0.25 carats and more. The pieces are marketed as fashion jewelry, while the company is targeting the same audience as Pandora. Still, the jewelry with created diamonds is generally priced higher than the similar jewelry with Swarovski crystals. After a successful test-run of the Created Diamonds collection both online and in a few selected stores, it’s now going to be available in over 200 locations.
The more mass-oriented approach and smart marketing campaign Swarovski is known for will certainly increase the awareness and demand for lab-created diamonds from the general public. Local stores will have to be ready and know how to source the lab-growns to not miss out on the customers.
Man-made diamonds are making waves not only domestically. Last year they started growing in popularity in Europe, and now we see the increasing demand everywhere else. The local lab-grown markets are predicted to boom within a few years, just like it happened in the United States. According to Luc Perramond, CEO of Damas Jewellery, one of the biggest retailers in Dubai that recently switched to using man-made diamonds as central stones, more and more companies in the Middle East are starting to test lab diamond jewelry to win over customers on the budget. He expects that within the next year most of the sourcing will be done domestically, as a lot of UAE-based grower companies have been launched in 2022 and are already operating.
The same is happening in other countries. The world is catching up with the US in terms of the trend for lab-grown diamonds. That means that these stones are certainly not going anywhere any time soon.
LaBrilliante is keeping track of the developments of lab-grown markets. And with the ever-increasing demand, retailers need both trusted and an up-to-date source for their materials. This is why by choosing LaBrilliante you will always be sure that you’ll never lose a customer.