Editors

Lab-grown diamonds: A consumer’s perspective

EditorsJul 09, 2014

Lab-grown diamonds: A consumer’s perspective

It’s been a rough (no diamond pun intended) past couple of weeks for two of the industry’s largest producers of lab-grown diamonds.



It’s been a rough (no diamond pun intended) past couple of weeks for two of the industry’s largest producers of lab-grown, or synthetic, diamonds.

The board of Scio (formerly Boston-based Apollo) in Greenville, S.C. got what they wanted, forcing out interim CEO Gerald McGuire just a week after he took office, along with board members Edward Adams, Robert Linares (who is Adams’ father-in-law and the founder of Apollo), and Theodorus Strous. Scio shareholders had been advocating for change for months, pointing out that the company isn’t making any money.

Gemesis also announced major changes, hiring new CEO Lisa Bissell, who spent 20 years with diamond wholesaler M. Fabrikant & Sons, and changing its name to Pure Grown Diamonds. According to Gemesis, they brought Bissell on board to promote transparency within the lab-grown diamond industry, which is badly needed. Her appointment is part of the company’s vision to “set new benchmarks for the grown diamond industry,” Gemesis said.

These changes are, to me, a sign that these two companies are having trouble forging their identities, getting a foothold in the consumer market and, at the end of the day, making sales.

But why? What is the trouble with this product that, according to some sources, was poised to bring down the entire mined diamond industry in just a few short years?

To find the answer to this, I chose not to call jewelers but instead to go straight to the source: consumers. What do the people on whom the industry depends to buy diamonds think of lab-grown stones? Would they buy them?

Here’s what I found out in conducting this (very informal) poll.

1. “Lab-grown diamonds are a thing?” In conducting my (again, very informal) research, what became quickly apparent is that many people don’t know diamonds can be grown in a laboratory. “As a 27-year-old, my friends and family members are getting engaged at a rapid rate,” one respondent wrote. “I don’t have a single friend who has a lab-grown diamond engagement ring, nor have I ever spoken with someone … who has wanted one. Honestly, I don’t think many consumers are aware of them, especially men.”

If they are aware that lab-grown diamonds exist, they don’t understand the difference between a lab-grown stone, which is an actual diamond with the same optical, physical and chemical properties as the stones that grow naturally underground, and what we
in the trade would refer to as a simulant: a stone that is made to look like, to simulate, a diamond but has a different chemical composition. The most common diamond simulant is cubic zirconia, or CZ.

Three of the people I polled mentioned CZ in the same sentence as lab-grown diamonds, not aware that there’s a difference. “Is this not the same thing as a cubic zirconia?” one respondent asked, while another wrote, “I do know about them (lab-grown diamonds) although I am not sure where they end and cubic zirconia/Swarovski crystal begins.”

2. Though there’s a lack of awareness, the stones aren’t a complete turnoff. Despite the lack of education on the existence and exact composition of lab-grown diamonds, I would characterize the overall reaction toward the stones as positive.

This is mainly due to the ethical aspect of lab-grown diamonds and, unfortunately, the perceived lack of ethics and human rights issues many think are inherent in the mining of natural diamonds.

It should be no surprise to anyone that today’s consumers are concerned about the origin of the products they buy; this has been stated time and time again in the seemingly endless number of surveys conducted about the Millennial generation. It is a trait that, in my opinion, is exhibited by members of Gen X as well.

One of my respondents, a self-proclaimed “diamond illiterate,” had no idea that lab-grown diamonds even existed until I asked her about them. But she was thrilled to learn about the stones; just look how many exclamation points she used in her response: “I had NO idea that diamonds could be lab-grown! I would absolutely be open to a lab-grown diamond, even over an ethically sourced (mined) one. I think it completely changes decisions and conversations!”

Another respondent who went with a mined diamond for her engagement ring--she liked the symbolism of something that had been forged over time under heat and pressure marking her union--said she’d be open to buying lab-grown diamond jewelry in the future.

In her response, she exhibited another trait apparent throughout the Millennials and the younger members of Gen X: They have no desire to “keep up with the Joneses.”

“I don’t feel I’ve anything to prove to anyone so I am not concerned about if what I’m wearing is ‘real’ or not. I’m more interested in the aesthetics (and ethics) of my jewelry,” she wrote.

3. They don’t like the term ‘lab-grown.’ One very interesting point that came up in my (again, very informal) poll is that the term “lab-grown” does not have widespread consumer appeal.

A few of my respondents thought the product could use a marketing overhaul and, apparently, so did Gemesis, which, as noted above, is now calling itself Pure Grown Diamonds and states on its website that, “All diamonds from Pure Grown Diamonds are lab-created, guaranteeing a socially and ecologically responsible point of origin.”

“They need to come up with another name other than lab-grown diamond,” one of my respondents wrote. “It’s brilliant how some bag-makers call their bags ‘vegan’ purses for their synthetic leather bags. I admit I feel better about myself when I purchase a ‘vegan’ purse.  I think the same could be done for the lab-grown diamond market.”

Another said, “’Grown’ in particular sounds weird … you’re losing the symbolism of something valueless and common being turned into something beautiful and rare(er) thanks to pressure and time. You have to compensate for that somehow.”

While having a “vegan” equivalent for lab-grown diamonds appeals to consumers, the industry is bound by Federal Trade Commission rules, which dictates that the term “laboratory-created,” “laboratory-grown,” or “(manufacturer name)-created,” precede the word diamond when describing a stone that was grown in a laboratory.

These FTC guidelines are jewelry-industry inside baseball, so to speak, and would not be something the people I polled would know about in commenting on lab-grown diamonds. But, overall, I do think their answers give interesting insight into consumers’ perspective on lab-grown diamonds.

Retailers, what do you think? Do the above thoughts align with your customers’ thoughts and feelings on lab-grown diamonds?
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Bergman Jewelers family
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 Years

The independent jeweler first opened its doors in 1888.

QVC Group Inc. logo
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

Coconut Grove Jewelry & Watch Show
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in Florida

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

bench jeweler 1872x1052.png
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They Deserve

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The Jewelry Symposium (TJS)
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor Shortage

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

Weekly QuizMar 27, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Peanuts x Monica Rich Kosann Collection Bracelets
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry Collection

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Graphic for What Do We Mean When We Say “Recycled” Gold webinar
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Mindi Mond Clarity Earrings
TrendsMar 31, 2025
Amanda’s Style File: Dripping in Diamonds

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

Lashbrook ring
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With Acquisition

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

Bulgari and LVMH Watches CEO Jean-Christophe Babin
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH Watches

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Surveillance footage of robbery
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry Store

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Nephrite and Jadeite by Heinrich Fischer, Richard W. Hughes
SourcingMar 28, 2025
19th-Century Jade Book Now Available in English

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

LÖF The Valentine Ring
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ Ring

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

Eggs on a shelf
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ Outlook

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

Richard Rainsford memorial ring
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

Austin Butler
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand Ambassador

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

ICA Congress Brazil 2025
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

Bailey’s Fine Jewelry storefront
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent Jeweler

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

Bulova 150 Art Deco Miss America Watch, 150 Art Deco Pocket Watch
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco Watches

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen
MajorsMar 26, 2025
QVC Group Appoints New President

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

Jewelers of America’s new logo
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

Christies regent kashmir sapphire and regal Burmese ruby
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat Ruby

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

Diamond earrings held in gloved hand
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft Recovered

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

Emmanuel Raheb CEO of Smart Age Solutions
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More Jewelry

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

Pomellato Nudo High Jewelry Campaign
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic Design

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

Jamie Singleton, Bill Brace, Rebecca Wooters, Bill Luth
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid Turnaround

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy