Diamonds are a classic staple as a desired jewel. As Shirley Bassey said: “diamonds never leave you…men do.” Starting in the 20th century with the De Beers marketing campaign, the market has grown significantly for this type of investment.
But what about lab grown diamonds? According to business investor Mozes Konig, this particular sector has changed a lot since De Beers started selling man-made diamonds since its U-turn policy change in 2018. Following that decision, more and more people were looking to purchase these diamonds for engagement rings. Now, De Beers is seeking to elucidate to its customers the distinction between natural gems and lab-grown diamonds as a way of highlighting the fascination with earth-uncovered diamonds so that there is still a huge desire for them.
There is a slight problem with this however. By marketing lab-grown diamonds, De Beers runs the risk of undermine its natural diamonds. Having said that, the production costs for lab-made diamonds has significantly decreased within the last ten years which gives the jewelry firm and others like it the opportunity to further reduce their consumer prices.
“In conclusion” notes Konig “what we have seen is a huge growth in the market since 2018 as more retailers purchase these and customers learn about it through publicity and friends.”