Lab-Grown Diamonds: A Threat or an Opportunity?
Many lab-grown manufacturers in India are rethinking the earlier antagonism between lab-grown and natural diamonds.
![“There is greater acceptance [of lab-grown diamonds] today, but manufacturers had to put in a lot of effort to make it happen,” said Smit Patel, director of finance for lab-grown diamond company Greenlab, whose factory in Surat, India, is pictured. Greenlab lab-grown diamond factory in India](https://uploads.nationaljeweler.com/uploads/25a779a24f80da9941acb4c5b89a532c.jpg)
“Both natural and lab-grown diamonds bring unique value to the table, and when leveraged correctly, can complement each other and help grow overall jewelry consumption.” – Dilip Mehta, Lumex
“If lab-grown diamonds were promoted as memorable-yet-affordable gifts for occasions that keep recurring … [and] collections were developed annually in sync with prevailing fashion trends, the market could expand phenomenally.”— Vinit Jogani, Diatech
The natural diamond business, meanwhile, can be about luxury and exclusivity.
The view from Surat seems in sync with Dilip Mehta’s assertion that, “Lab-created diamonds are a designer’s dream.
“They offer flexibility and creativity and allow designers to think outside the box. They can create exciting new products, including accessories.”
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