FinancialsNov 03, 2021
Pandora’s Lab-Grown Diamond Line Coming to the USLab-GrownNov 04, 2021
Analyst: Fashion Jewelry, Industrial Uses Will Drive Lab-Grown Diamond Demand
Paul Zimnisky shared his short- and long-term outlook for the market in an updated forecast released last week.
Paul Zimnisky cited the colored lab-grown diamonds Swarovski introduced in 2020 as an example of a major brand positioning the stones for fashion jewelry. Pictured here are three of the 16 colors Swarovski created, clockwise from top, “Disco Ink,” “Electro Arctic,” and “Punk Lipstick.” (© Swarovski)
New York—The long-term growth of the lab-grown diamond market lies in fashion jewelry and industrial applications, one industry analyst said in a forecast released last week.
New York-based diamond industry analyst Paul Zimnisky predicted lab-grown diamonds will constitute 12 percent of the diamond jewelry market by 2025, up from 8 percent in 2021 and 3 percent in 2018, when De Beers shook up the market with the introduction of Lightbox.
(These percentages represent lab-grown diamond value at retail as a percentage of the total polished diamond value at retail, i.e., lab-grown and natural.)
As the market for man-made diamonds grows, however, it appears to be “stratifying,” Zimnisky said, with producers adopting more specific business strategies rather than focusing on “disrupting” the natural diamond industry.
Some producers are intent on creating branded diamonds grown using more sustainable methods to differentiate their product.
Others are making diamonds for low-cost fashion jewelry, while some producers have turned their attention to growing diamonds for industrial purposes.
In the long term, the growth of the market is likely to come from this lower-cost fashion diamond jewelry—not from bridal—as well as from diamonds grown for industrial purposes, such as medical equipment, energy storage, or semiconductors.
Related stories will be right here …
New York-based diamond industry analyst Paul Zimnisky predicted lab-grown diamonds will constitute 12 percent of the diamond jewelry market by 2025, up from 8 percent in 2021 and 3 percent in 2018, when De Beers shook up the market with the introduction of Lightbox.
(These percentages represent lab-grown diamond value at retail as a percentage of the total polished diamond value at retail, i.e., lab-grown and natural.)
As the market for man-made diamonds grows, however, it appears to be “stratifying,” Zimnisky said, with producers adopting more specific business strategies rather than focusing on “disrupting” the natural diamond industry.
Some producers are intent on creating branded diamonds grown using more sustainable methods to differentiate their product.
Others are making diamonds for low-cost fashion jewelry, while some producers have turned their attention to growing diamonds for industrial purposes.
In the long term, the growth of the market is likely to come from this lower-cost fashion diamond jewelry—not from bridal—as well as from diamonds grown for industrial purposes, such as medical equipment, energy storage, or semiconductors.
Zimnisky points to Pandora’s “Brilliance” line, which starts at $350 and was introduced to “democratize” diamonds, and Swarovski’s proprietary colored lab-grown diamonds as examples of two major brands going the fashion route.
On the industrial side, he noted the new 10-million-carats-per-year factory the Diamond Foundry—which emerged onto the scene as a major “disruptor” of the natural diamond market—is building in Spain will focus on growing diamonds for the tech market.
Overall, the market for industrial diamonds is just a lot bigger than the market for man-made diamond jewelry, Zimnisky said, and the industrial end user cares far less whether the diamond they have is lab-grown or natural.
“With industrial applications for diamond, the lower-price option will theoretically win out as long as performance is comparable.
“With diamond jewelry, as is the case with luxury more generally, the consumer rational for purchase is not nearly as practical and is often influenced by more intuitive factors, like emotion or an affinity for rarity,” he concluded.
For the full report, visit Zimnisky’s website.
More on Lab-Grown
The Latest
CrimeOct 03, 2022
Delaware Jeweler Viciously Attacked During Robbery The jeweler was left in critical condition after a suspect pistol-whipped and beat him before stealing jewelry out of the display cases.
CollectionsOct 03, 2022
Vrai, Brides Magazine Partner on Lab-Grown Diamond CollectionReaders are taking a “strong interest” in lab-grown jewelry, said Brides’ editorial director.
WatchesOct 03, 2022
‘Unicorn’ Cartier Cheich Watch Sells for $1.1MOne of only four in existence, it more than doubled its pre-sale estimate at the Sotheby’s Paris auction.
Brought to you by
Sarine’s Second Generation AI-Based Diamond GradingThe diamond industry is dramatically evolving from manual to AI-based 4Cs grading. Stay up-to-date and discover the new AI-powered advances.
IndependentsOct 03, 2022
Day’s Jewelers Names New VP of MarketingLong-time employee Nikia Levesque takes on the role as former owner Jeff Corey retires.
Weekly QuizSep 29, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
AuctionsSep 30, 2022
Red Diamond Earns $1.8M at AuctionThe final hammer price blew the pre-sale estimate out of the water.
EditorsSep 30, 2022
The Best of Betty White’s Jewelry Sold at AuctionMichelle Graff recaps the cats, fortune cookies, and charm bracelets that caught her eye while covering the late actress’ estate sale.
Brought to you by
6 Steps to Start a Dynamic Company CultureLearn how to better serve your employees, customers and community by having a dynamic and supportive company culture.
Policies & IssuesSep 30, 2022
Voting Is Open for the Fairmined 100 Challenge’s Best CollectionThe winners, picked by a group of judges and voted as the public’s favorite, will be announced in a webinar on Oct. 11.
CollectionsSep 30, 2022
Piece of the Week: Fewer Finer’s ‘Family Bracelet’The engravable piece is a perfect family heirloom.
GradingSep 30, 2022
GSI India Names Ramit Kapur Managing DirectorKapur has spent nearly two decades working in the gemological labs sector of the jewelry industry.
Supplier BulletinSep 29, 2022
How to Create an Engaging Experience and a Sparkling ReputationSponsored by Synchrony
SourcingSep 29, 2022
Q&A: Constantin Wild Celebrates 175 Years in the Colored Stone Business The family business’ fourth-generation eponymous owner reflects on the milestone and the market today.
AuctionsSep 29, 2022
See the Top Lots in Christie’s Upcoming Rare Watch SaleAccording to Christie’s, the auction is its most important single-owner watch collection ever.
CollectionsSep 29, 2022
Trove Has a New Proposal: Ring BoxesThe jewelry box brand is expanding with both single and double ring boxes in red, mint green, and white.
SourcingSep 29, 2022
AGTA Names Jennifer Heebner Editor-in-Chief of its PublicationsThe association has also hired a new marketing manager and announced two staff transitions.
Policies & IssuesSep 29, 2022
JA Members Return to Capitol Hill to Voice Jewelers’ ConcernsThe topics up for discussion with lawmakers included inflation, rising interest rates, hiring challenges, and crime.
AuctionsSep 28, 2022
The 18-Carat ‘Fortune Pink’ Diamond Could Sell for $35M The pear-shaped fancy vivid pink diamond will lead the Christie’s Geneva Magnificent Jewels auction on Nov. 8.
SurveysSep 28, 2022
Consumer Confidence Rises in SeptemberU.S. consumer confidence rose for the second consecutive month as gas prices fell.
MajorsSep 28, 2022
Artistry’s 2023 Catalog Is Out NowThe jewelry catalog features an updated layout and 160 pages of product.
MajorsSep 28, 2022
JFC’s 2022 ‘Hope for the Holidays’ Program Is an Adorable Menagerie There are three designs to choose from this year, all featuring animals drawn by kids who have had wishes granted through Make-A-Wish.
AuctionsSep 27, 2022
In Betty White’s Blockbuster Estate Sale, Jewelry Held Its Own Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”
CrimeSep 27, 2022
3 Suspects in Beverly Hills Smash-and-Grab Robbery ArrestedA total of four suspects are now in custody with police still on the lookout for the remaining two.
ColumnistsSep 27, 2022
Creative Connecting: Fun Ideas for Holiday 2022 In-Store EventsFrom a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.
MajorsSep 27, 2022
Stuller Releases 2 Updated Catalogs Ahead of the Holiday Season “Mountings 2023-2024” and “Diamonds & Gemstones 2023-2024” offer a vast selection of options to create custom pieces.
Events & AwardsSep 27, 2022
ICA’s 2023 Congress Will Be Held in Dubai The event will be hosted by the Dubai Multi Commodities Centre from Feb. 15-17.
IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 YearsThe store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.
