Exhausting and exhilirating...
"The hidebound scrabblers for power, mired in an order of the old, need to understand that diamonds are not forever. You can’t spin a lie in perpetuity. There comes a time when folk wake up and change gears while you “lower your diamond production guidance”. No-one has ever shrunk to grow, particularly when the levers of manipulation have withered."
Another JCK show and another exciting progression in the lab-grown diamond revolution. Here are my notes directly from the show floor:
Grown Diamond Trade Organization is gaining momentum quickly with manufacturer and retailer members joining at JCK. New LGD jewelry reports well received and all parties agree that the time is now for LGD to have it’s own eco-system.
Mined diamonds playing hardball as DeBeers sale looms large over the industry. Factionalizing the market doesn’t bring in more consumers to jewelry stores. It’s self defeating.
Less retailers more buying for lab-grown diamonds. By my observation I would say there are less retailers attending the show this year but the LGD exhibitors continue to write business and draw significant traffic. Without the lab-grown diamond exhibitors this show would be very slow.
LGD retailers report raising prices to consumers. After a research effort revealed that major LGD ecomm sites (James Allen, Brilliant Earth, Rare Carat) were raising prices for (undoubtedly in an effort to improve bottom line results), mid major retailers and independents are now raising their prices to capture more margin.
LGD exhibitors invest heavily in their show booths. In a sign that LGD growers and manufacturers are in it for the long haul and gaining significant value from vertical integration, their spend on booth real estate has grown significantly at this show.
Female empowerment gains importance in lab-grown diamond sustainability components. As the LGD category gains more credibility with female members of the international jewelry trade (and self-purchasing female consumers globally), they are insisting on learning more about how key prime growers and LGD jewelry manufacturers are empowering women in their communities with mid to upper level career opportunities.
Color LGD splashes down in the deep end of the pool. Hard work and due diligence by the LGD prime growers in the development of fancy color diamonds has paid off at this show with retailers seeing and purchasing quality fancy color LGD loose polished and finished jewelry for the first time.
