Signet Expands Blue Nile's Lab-Grown Bridal Range

RAPAPORT... Online retailer Blue Nile has begun offering larger and pricier lab-grown diamonds, including for engagement rings.The e-tailer, which Signet Jewelers acquired in August, lists synthetic diamonds ranging from under 1 carat to more than 4 carats on its "Design Your Own Ring" page, with prices running from about $800 to $36,500 as of press time. At last count, there were over 4,400 lab-created stones available on the website. Blue Nile entered the lab-grown market in 2020 with the launch of a collection from Lightbox, De Beers' fashion jewelry brand featuring man-made diamonds. At the time, the online jeweler said it believed consumers would pick natural diamonds for engagement rings and other significant milestones, but prefer lab-grown for everyday wear."Blue Nile has been selling Lightbox lab-grown diamonds for a few years in many sizes, including to bridal customers," a Signet spokesperson told Rapaport News on Tuesday. "Because choice is important to today's consumer, we've expanded our offerings to include a non-branded [lab-grown diamond] assortment."The company added the items to the site last week, he noted.The move brings Blue Nile more in line with fellow e-jeweler James Allen, which Signet acquired in 2017 and which has been selling lab-grown in similar size ranges since 2019.Blue Nile's education page declares that lab-created diamonds have "no intrinsic rarity, which makes them less expensive than natural diamonds," and that their future value is uncertain. However, many people consider them "one of the most ethical options," it says. The company's policy on trade-ins - allowing customers to exchange or upgrade their jewelry - "is being reviewed as well and will likely be similar to James Allen's," the spokesperson added. At James Allen, when shoppers bring in a lab-grown diamond to trade, the retailer offers them its full value in credit toward another one of at least double the value.Image: A Blue Nile showroom in Oregon. (Blue Nile)