Diamex Lab: Our technology allows you to trace the history of the origin of each stone

Gleb Sverdlov, CEO of Diamex Lab told Rough & Polished in his interview below about the development of IT technologies for the market of rough and polished diamonds and jewelry.

17 february 2020

The future of the market goes hand in hand with gemology

After 2019, a challenging year for the global diamond industry, we asked Yuri Shelementyev, head of the Moscow State University (MSU) Gemmological Center and president of the National Gemological Association (NGA), to share his views...

10 february 2020

Diamond industry in healthier position going into 2020

The diamond industry is in a healthier position going into 2020 due to actions taken last year, according to De Beers. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa that the actions taken included reducing rough diamond production...

03 february 2020

Ethical sourcing and Diamonds Standards Organization

The diamond sector is ready to embrace a new decade and overcome some of its historical challenges. Ethical sourcing has proven to be undoubtedly one of the main aspects that industry professionals need to address. Antonio Cecere, President of Geneva...

27 january 2020

Ali Pastorini: Challenges make us think out of the box and be closer to customers

Ali Pastorini is the co-owner of DEL LIMA JEWERLY and President of Mujeres Brillantes, an association which brings together more than 1,000 women working in the gold and diamond trading sector, mainly from Latin America, as well as from Turkey, Spain...

20 january 2020

More consumers choosing lab-grown diamonds for their engagement ring

14 february 2019

Bridal market consumers continue to choose lab-grown diamonds as their choice for an engagement ring stone in increasing numbers, as indicated in a newly released report, A Diamond Choice 2019, Lab-Grown Diamonds & The Future of The Diamond Industry. The report, published by the International Grown Diamond Association (IGDA), is wide-ranging but specifically highlights the results of a consumer research study it commissioned in Fall 2018.
According to the report, 66% of millennials actively shopping for an engagement ring say they will consider a lab-grown diamond, and 23% say they will definitely buy a ring with lab-grown diamonds. The main purchase driver is the fact that a consumer can get a larger, better quality lab-grown diamond for the same price as a smaller mined diamond. Consumers expect lab-grown diamonds to be certified just as mined diamonds are 56% of consumers are now aware of lab-grown diamonds, compared to just 9% in 2010.
The study, conducted by MVI Marketing LLC, an industry research firm that has been studying the lab-grown diamond market for well over a decade, highlights growth in lab-grown diamond awareness and attitudes as well as purchase interest, with an emphasis on the bridal sector. “Critical mass of consumer interest is now converging with increasing acceptance of lab-grown diamonds by retailers. This unique moment in time will propel growth for many years to come,” noted Marty Hurwitz, CEO of MVI.
Despite conflicting reports in the trade about which direction lab-grown diamond prices are moving, the report acknowledges that some prices have gone down, mostly in the smaller size goods, but states that for higher quality, larger lab-grown diamonds suitable for bridal, demand exceeds supply and prices are stable and increasing.
“Over the last two years, the anecdotal feedback from IGDA members has been that the bridal category is where they’ve had most success. The extensive survey conducted by MVI confirms this as well as corresponding consumer attitudes toward lab-grown diamonds, indicating the significance of the opportunity in bridal,” added Richard Garard, Secretary General, IGDA.

Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished, Brussels