Hong Kong Show Proves Global Lab-Grown Diamond Demand
After a three year long hiatus caused by Covid pandemic, one of the biggest jewelry trade fairs in the world has returned. Beginning of the month saw the Hong Kong International Diamond, Gem & Pearl Show held for five days straight. Participants from all over the world gathered in the Hong Kong Convention and Exhibition Centre to promote their goods or services. LaBrilliante, of course, was among the exhibitors, and we’re ready to tell you how it was.
Last fair was held in 2019, before the coronavirus outbreak, and had only five lab-grown diamond companies introducing their products. Now that man-made stones have gained a lot of popularity, the Honk Kong Trade Council, an organizer of the event, had a full section in one of the main halls dedicated to the manufactured gems. Over a hundred exhibitors showed off their loose and set lab-created diamonds. Most of the companies were based in Asia to no one's surprise, however a few European and American brands also showed up, LaBrilliante included.
Visitors came from everywhere. Retail representatives and private jewelers sourcing for new suppliers proved the increased demand from regular customers. While Asian buyers were looking for a local stable source of lab stones, brands from Australia, Europe, Latin America, USA and Canada have also sent their buyers to Hong Kong.
What many were looking for is something unique. With the advancement of technology, colorless manufactured diamonds of standard 1 to 4 carat size were not as surprising as the set of perfectly matched stones, or eye-catching fancy colors.
While talking to many Asian buyers, we found out that this is a niche that only lab-grown gems can take. Millennials in the Eastern part of the world are shopping for unique designs which they can’t afford with mined diamonds. Hence, the popularity of lab-grown diamonds is growing rapidly and will continue to increase. Industry members say that the Asian market is still catching up in terms of lab-grown diamond demand. While there were a lot of deals made on the show, many buyers were still on the mission to get acquainted with the product. It is the next year that should show the true potential of the lab-grown diamonds in the Global market, after the hesitancy towards a relatively new product is completely gone.
Some organizer representatives predict that the lab-grown diamond sector will be two or even three times bigger than this year. The number of sales should increase respectively. Whether it’s fancy colors, unique shapes, or regular white diamonds, it is how you introduce and prove yourself to the new markets that matters. And rest assured, LaBrilliante will be there to do our best to stand out.