Signet Expands Lab-Grown Diamond Offering

RAPAPORT... Signet Jewelers is now offering jewelry featuring synthetic diamonds and gemstones at all of its major US banners, after asuccessful pilot in limited locations. "Lab-created diamonds are available in both fashion and bridaljewelry at James Allen, Kay, Zales, and Jared stores, as well as their e-commercesites," David Bouffard, Signet's vice president of corporate affairs, confirmedto Rapaport News on Monday. Kay's Modern Creation line features earrings, bracelets, necklacesand rings priced from $450 to $5,025. The site clearly illustrates thedifferences between lab-grown and natural stones, including the time it takesfor a diamond to be created, the price difference at purchase, and theuncertainty of long-term value for synthetic stones. Significantly, the companyalso notes natural-diamond jewelry is eligible for trade-in, while lab-grownpieces are not. Jared is selling loose lab-grown diamonds and ring settings as part ofits Chosen collection. Those items are available separately, rather than as a complete pieceof jewelry. Signet offers a variety of synthetic pieces at its lower-end Zales banner. Prices range from $615 for a necklace comprising 0.50 carats ofmelee stones to $7,000 for an engagement ring set with three G-color, SI2-claritystones weighing a combined 3 carats. A similar style natural-diamond ring withthree H-color, SI2-clarity stones totaling nearly 2.50 carats is selling on theZales website for more than $15,000, reduced from its regular price of justunder $22,000. Image: A Zales store in Michigan. (Magnus Manske)