Can we end the lab-grown-natural battle?
Are natural diamonds really coming back? Being a CEO kind of stinks (though no one feels bad for them). It's the Jewelry Wire daily digest for Tues., June 30, 2026. Ad support from GN Diamond.
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It’s time for a lab-grown and natural ceasefire (or at least a dialogue)
Last week, I was speaking with someone who said this industry will be in trouble if the leaders of the natural and lab-grown diamond industries don’t sit down and talk to each other and discuss ways to work together in a more harmonious fashion. I agreed, then realized I had called for that back in 2014:
…the more consumers get turned off to diamonds, the more they will turn to colored stones for their engagement rings …
Someday, the lab-grown and mined diamond trades will have to coexist. In a way, that’s already begun to happen. Smart minds need to figure out a way to make this coexistence a little more peaceful, so that this promising new product can be sold in a way that protects consumers and the industries’ reputations. Because in the end, if the two industries don’t start communicating and working together, the blowback could seriously damage them both.
Well, the colored stone part came true, didn’t it? And it’s no secret that the lab and natural businesses both have serious issues (with falling prices and sales, respectively.)
Sean Dunn, owner of J.R. Dunn Jewelers in Lighthouse Point, Fla., recently proposed new rules of engagement on LinkedIn for those who sell diamonds:
No derogatory messaging about any type of diamond
Know your suppliers. Back up your claims.
Lead with meaning, not attacks
Integrity over margin.
He adds:
Natural retailers: Talk about what natural diamonds ARE. Luxurious. Rare. Permanent. Heirlooms. Don't tear down lab-grown.
Lab-grown retailers: Talk about what lab-grown OFFERS. Accessibility. Innovation. Incredible designs and exceptional quality. Don't tear down natural.
Your product speaks for itself. Position diamonds—all diamonds—as THE GIFT. The ultimate symbol of love.
He is calling on the big players to sign a “code of conduct.” Of course, this would mean dropping the endless nomenclature battles, the bogus eco-comparisons, and all the other worn-out topics that the trade has debated for over a decade. And really, if big players like Pandora truly had faith in their product, they would come up with smarter ways of attracting consumers than bashing the competition.
Mind you, there will always be bad actors who like to cut corners, as well as pernicious tech companies like LinkedIn whose business model is based on division. But if we can get most of the industry to cease hostilities, we’ll all be in a much better place, or at least a less angry one. I don’t know if this will help sales, but I can’t imagine the current hostilities—and dizzying array of claims and counter-claims—are helping.
You can read Sean’s post and the different reactions to it, here.
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Jewelry is top luxury category, says Bain
Jewelry remains a top performer across all luxury categories, according to a new report from Bain in partnership with Altagamma, the Italian luxury goods manufacturers' industry association.
Among the study’s other findings, from a Bain statement:
U.S. luxury sales continue to surge, with under-35 shoppers boosting their spending more than their older counterparts.
U.S. upper-middle-class households have increased their luxury spending at about twice the rate of higher-income households, suggesting that “the market is succeeding in broadening its base.”
Half of luxury shoppers now consult the secondhand market before buying new.
Approximately half of luxury consumers use AI when buying; one in four luxury consumers use it for brand and product discovery.
Sports are now a major part of luxury brand-building, with brands representing 80% of luxury market value actively sponsoring sports teams.
Luxury is “evolving from elitism through aspiration and self-expression to an era characterized by '‘living well.’”
Notable quotes:
“Consumers … are stepping forward into a new relationship with [luxury]—one defined by meaning, not just by product,” said Claudia D’Arpizio, Bain & Company senior partner and global leader of the firm’s fashion and luxury practice.
“The appetite for luxury remains strong. The tolerance for disappointing experiences or products [is] not,” said Federica Levato, Bain & Company senior partner.
Your opinion on natural diamond demand
Half (50%) of the 36 voters are seeing a slight increase in natural diamond demand, 14% said the uptick is more than slight, and a little over a third (36%) didn’t notice any uptick at all. I’ll do this poll again at the end of the year and see if the results are any different.
Video of the day: lab-grown tech
Cleo Abram looks at tech applications for lab-grown diamonds (thanks to Avi Krawitz)
Your view on … diamond branding
On Civigem, David Troostwyk, the platform’s head and vice president of the London Diamond Bourse, wrote the following regarding Saturday’s piece on diamond brands:
I think natural diamonds already function as a brand in their own right. They have differentiation, emotional resonance, a compelling origin story and a clear value premium over alternatives.
‘A Diamond is Forever’ is one of the most successful branding campaigns in history, and it wasn’t selling a specific stone, cut, or manufacturer. It was branding the category itself. Take all that into account, it’s safe to say that natural diamonds are a brand.
What I think is a harder problem and what the article is getting at is what happens when a diamond becomes a component inside another product? Once it’s set into a piece of jewelry, the diamond is no longer the product. The jewelry is. You don’t brand the minute hand in a watch or the leather in a handbag, you brand the finished article.
Building a sub-brand around a specific diamond inside a piece of jewelry isn’t just hard, it’s a totally different proposition to category branding.
The examples cited in the article, The Leo Diamond and Hearts on Fire both illustrate this perfectly. Neither remained a pure diamond brand. Both have had to evolve into jewelry, which is exactly what I meant about the “component problem.”
The rare exceptions that I can think of and have held their ground as genuine diamond brands are—the Ashoka cut is trademarked and its scarcity and exclusivity are baked into its model. Royal Asscher similarly trades on a historic name and a trademarked cut identity. Both have resisted entirely becoming jewelry brands. They are the exceptions, though, not a template.
I wouldn’t try to brand a diamond today. Instead, I would try to find an effective way to make an impact through collaborating with other industry stakeholders with category marketing for natural diamonds.
Worth a click
Bloomberg BusinessWeek’s Everybody’s Business podcast examines (starting here) why being a CEO is a tougher job these days—in part because so many people hate them:
Below: why gold may stage a comeback; the true story of the tennis bracelet; the watch industry needs to get relevant again; and a volcano in Antarctica spews gold into the atmosphere.
Turn off those Google alerts. We find it so you won’t miss it. All after the paywall.
