According to what seems like all, even the most pessimistic predictions, the demand for lab-grown diamonds will continue to rise. While the U.S. and Global economy started to slow down, affordable jewelry pieces are becoming a much stronger category with store owners and consumers, partially due to bigger names joining the industry.
In the beginning of November, famous retailer Blue Nile launched the lab-grown diamond category, both loose and as set in bridal jewelry. This news follows up their recent acquisition by Signet, which has recently started to implement jewelry with man-made diamonds in all of their brands.
While more previously “mined only” companies are starting to welcome manufactured gemstones, many older lab-grown brands are continuing to do big promotional campaigns and have the fashion magazines talk about them. Oscar Massin, a heritage brand founded by ex-Cartier executives, that specializes in jewelry with lab stones and recycled gold, had recently had The New York Times and Vogue advertising them. At the same time, Pandora’s lab-created diamond collection made fashion news last week, as Jennifer Lawrence wore their bestseller diamond studs at the Academy Motion Picture Arts and Sciences Awards. This certainly counts as a big promotion of the Brilliance line, as the big Hollywood star rocking their studs at the red carpet is expected to boost the trend of lab-grown diamond jewelry.
The well-established companies adopting the business of lab-created gems had turned the category into a legitimate fast-growing industry. In general, the analysts forecast a rather stable rise for the lab-growns even amidst the worsening economic situation around the world. However, the industry is expected to change.
According to the director of one of the oldest and biggest retailers of man-made stones, some new enterprises, both growers and retailers, should be thinking about diversifying their strategies and products. The more experience and trust the companies have, the better they will come out of the crisis. Awareness of the consumers, and reputation are key factors that will help growing and selling companies not only be sustainable, but rise further.
LaBrilliante has almost a decade of experience in supplying our high-quality lab-created diamonds to jewelry stores and retailing companies across the United States and the rest of the world. Our specialty is helping our partners to develop their business further with the lab-grown category. Whether you’re just starting out, or have been selling jewelry with man-made gemstones for quite awhile, you can never go wrong with LaBrilliante.