Man-made Diamonds, lab-made Diamonds, lab grown diamonds, synthetic diamonds and many other names have been given to what many consider to be a threat to the diamond industry. When referring to the matter it is almost as if people are asking, “to be or not to be?” I say: to be and to thrive.
The diamond market is quieter than hoped-for at the moment. Sales of polished diamonds in the run-up to Thanksgiving in the US proved disappointing and this has led to a decline in polished prices.
I believe increased transparency could change the future of the diamond industry. There are two main types of transparency now needed - pricing transparency and operational transparency.
Sales of diamonds for Indian Diwali and Chinese Golden Week are down on last year’s results. We’re now seeing a clear shift in diamond buying power from China, South East Asia and India back to the US.
Christmas is almost upon us. For those in the diamond and diamond jewellery industry, this is usually the busiest time of the year. Yet figures from key markets this week tell a different story.