Lab-Grown and Mined Sectors "Call a Truce"

By IDEX Online / July 20, 2020 / www.idexonline.com / Article Link

(IDEX Online) - The lab-grown and mined diamond sectors have "called a truce" as they unite against the common enemy of declining demand, claims an expert writing for business magazine Forbes. More and more jewlers are now selling them side by side, argues writer and market researcher Pamela N. Danziger, as the producers of both lab-grown and mined diamond each provide a more clearly defined and distinct message to consumers, The global market was already suffering from lower marriage rates and an overall decline in jewelry buying before COVID-19.The US Census Department's monthly retail sales detail hasn't reported jewelry sales since January - the last month before coronavirus impacted - because the figures are too low to be reliable.Danziger says a campaign by the Diamond Producers' Association to promote mined diamonds - "Real Is Rare. Real is a Diamond" - was effectively thwarted in 2018 when the Federal Trade Commission ruled lab-grown diamonds were also real.And so, she argues, the emphasis has now shifted from mined diamonds being "real" to them being "natural". She points to  De Beers as having found a way to "make peace" between the natural and man-made alternative with its lab-grown Lightbox brand. And she concludes: "Now that the mining interests have found a clear and precise message that differentiates its choice from laboratory-produced diamonds and doesn't undercut or denigrate the emerging category, the entire jewelry industry will benefit from this new spirit of d?? (C)tente."Generic pic of a rough lab-grown diamond

Recent News

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com

Gold stocks shrug off equity market decline on metal gain

January 13, 2025 / www.canadianminingreport.com

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com

Low valuations offer a cushion to mining sector

January 06, 2025 / www.canadianminingreport.com

Polarized gold and iron ore moves, moderate aluminum and copper gains

December 30, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok