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Lab Grown Diamonds

All articles tagged with #lab grown diamonds

business1 year ago

De Beers Expands Lab-Grown Diamonds Beyond Jewelry

De Beers, traditionally known for luxury diamonds, has found success in the industrial sector through its research division, Element Six, which produces lab-grown diamonds for industrial applications like cutting tools and electronics. This shift comes amid declining interest in natural diamonds and a restructuring by parent company Anglo-American. Despite challenges from international competition and reliance on sunset industries, Element Six sees growth potential, especially with the rise of AI technologies.

via Fortune|
#business#de-beers#diamond-market
business1 year ago

De Beers Abandons Lab-Grown Diamonds to Focus on Natural Stones

The diamond industry is facing significant challenges as the rise of lab-grown diamonds and shifting consumer preferences, particularly in China, drive down demand and prices for natural diamonds. Anglo American plans to divest De Beers as part of its restructuring, focusing on commodities that support green infrastructure. The industry is seeing a rapid increase in lab-grown diamond sales, which are much cheaper than natural diamonds, further impacting prices. Efforts to reignite demand through marketing collaborations are underway, but the industry remains in a precarious position.

via CNBC|
#anglo-american#business#de-beers
environment1 year ago

"The Environmental Impact of Lab-Grown Diamonds on the Rise"

Millennials and Gen Z are increasingly choosing lab-grown diamonds for their engagement rings due to ethical and sustainability concerns, but the environmental impact of lab-grown diamonds is questionable, as the manufacturing process requires a significant amount of energy, often sourced from coal in countries like China and India. While some companies use renewable energy and carbon credits to offset emissions, transparency and sustainability practices vary widely across the industry. The rise of lab-grown diamonds has sparked a marketing battle with the traditional mined diamond industry, with concerns about the long-term value and environmental impact of lab-grown diamonds.

via Fortune|
#diamond-industry#environment#environmental-impact
businessenvironment1 year ago

"Unveiling the Cloudy Sustainability Claims of Skyrocketing Lab-Grown Diamonds"

The popularity of lab-grown diamonds is on the rise, with many consumers opting for them due to ethical and sustainability concerns. However, the sustainability claims of lab-grown diamonds are being questioned, as the energy-intensive process of creating them raises environmental concerns. While some companies are transparent about their sustainable practices, many others are not, leading to uncertainty about the true environmental impact of lab-grown diamonds. The growing market for lab-grown diamonds has sparked a marketing battle with the traditional mined diamond industry, with differing views on their long-term value and appeal.

via The Associated Press|
#businessenvironment#diamond-industry#environmental-impact
business2 years ago

The Rise of Lab-Grown Diamonds: A Sustainable Revolution in the Jewelry Industry

The demand for lab-grown diamonds (LGDs) in India has been steadily increasing, driven by their lower price point compared to natural diamonds. LGDs are chemically identical to natural diamonds and are graded based on the same 4Cs criteria. The affordability of LGDs has allowed more Indian consumers to enter the diamond market, with sales of LGD jewelry skyrocketing. However, industry experts believe that while LGDs are popular among millennials and Gen Z, buyers with more purchasing power are likely to opt for natural diamonds in the future. India is currently the second-largest producer of lab-grown diamonds, and experts predict it could soon become the top producer. Despite the growth of the LGD market, it is not expected to significantly impact natural diamond sales, which have seen a return to normalization after reaching peak prices in early 2022. However, the rapid production of LGDs could pose a risk if prices continue to fall.

via CNBC|
#business#diamond-industry#india
business2 years ago

The Rise of Lab-Grown Diamonds: Affordable and Dazzling Jewelry

Walmart is expanding its selection of lab-grown diamond jewelry, including engagement rings, tennis bracelets, and pendant necklaces, in an effort to cater to higher-income shoppers seeking affordable fine jewelry. The rise of lab-grown diamonds, which are made by people rather than mined from the ground, has allowed Walmart to offer a wider range of items at lower price points. Global sales for lab-grown diamonds have seen significant growth, reaching nearly $12 billion in 2022. Other retailers, such as Pandora and Brilliant Earth, have also capitalized on the popularity of lab-grown diamonds.

via CNBC|
#affordable#business#holiday-season
business2 years ago

India's Diamond Industry Undergoing Revolutionary Changes

India's diamond industry is undergoing a revolution as lab-grown diamonds (LGDs) become increasingly popular due to improved technology and falling costs. LGDs are now so similar to natural diamonds that even experts have trouble telling them apart. India already produces around 15% of the world's LGDs, and the government is keen to develop the sector further. While some in the traditional diamond industry remain sceptical, others see LGDs as a way to broaden the market for diamonds and make the industry more environmentally friendly.

via BBC|
#business#diamond-industry#india