Lab-grown online and Blue Nile, Foundrae sues Pandora, JSA chair obit, and more
The jewelry store ad of the week, an encouraging stat for the industry, and the best links of the day! It's The Jewelry Wire's (first-ever) daily digest for March 30, 2026
What does Blue Nile’s shift mean for lab-grown online?
During 24 Karat Weekend, I spoke with an independent retailer who only sells natural diamonds. He said shoppers often come in looking for lab-growns. I asked where they heard about them, and he answered, “Through Blue Nile and James Allen. Google ‘how to buy an engagement ring,’ and you’ll see their ads.”
Ironically, days after I had that conversation, Signet said that Blue Nile would sell fewer man-made gems. It also shut down James Allen (though a James Allen collection will live on Blue Nile’s site).
Is Signet retreating from selling synthetic bridal online—a huge part of the market?
Not completely. It will still sell lab-grown engagement rings at Kay, Zales, and (to a lesser extent) Jared. Consumers can also buy LGDs at the James Allen section of Blue Nile’s site. Of course, even if Blue Nile and James Allen do stop touting lab-grown engagement rings online, Brilliant Earth and other smaller sellers, not to mention local jewelers, will happily take their place. Yet, not many companies have Signet’s budget.
It’s understandable that Signet might consider stepping back from lab-grown engagement e-tail, which, like all e-tail, is extremely price competitive. (Check out the 40% off prices on Ritani.) Some are even saying that the online model is broken. I don’t know about that, but given how expensive online advertising is and the current K-shaped economy, Signet now wants to aim its e-tail dollars at the top of the “K.”
The new Blue Nile is being positioned above Jared, which is considered “affordable luxury.” That means Blue Nile could cross over into actual luxury.
In the past, Blue Nile often attracted an affluent clientele, who sometimes bought expensive diamonds. (Its average sale was once $10,000.) But they did so—and this is an important point to make—because they thought they were getting a deal. Even rich people don’t want to overpay. Aside from being a discounter, Blue Nile never had much of a brand identity, which was one of its problems (and remains so).
The move toward “curation” at Blue Nile makes sense, as those ubiquitous diamond grids (which the site pioneered) can be overwhelming for consumers. But can Blue Nile—which until recently was selling $1,000 lab-grown engagement rings—become an online luxury brand? We’ll see.
These moves coincide with the departure of Corinne Bentzen, who became head of Signet’s digital brands division (Blue Nile and James Allen) in November 2024, after James Allen cofounder Oded Edelman left.
Foundrae sues Pandora for copyright infringement (exclusive)
Foundrae, the New York City-based jewelry boutique (and subject of a recent New York Times profile), is suing one of the industry’s biggest companies, Pandora, claiming the charm brand’s “Talisman Collection” infringes on Foundrae’s copyrighted designs.
Foundrae’s complaint, which was filed on Feb. 17 in New York federal court, alleges that “numerous pieces in Pandora’s Talisman Collection mirror FoundRae’s signature medallions.”
According to the complaint:
Several medallions in Pandora’s Talisman Collection feature the very same symbols that appear on FoundRae’s signature medallions. Moreover, like FoundRae, Pandora has engraved on the back of each medallion words to convey the symbolic meaning of the design that appears on the front of the medallion ….
In at least two instances, Pandora did not just emulate the look, feel and symbolism used on FoundRae’s signature medallions, but Pandora copied nearly verbatim the protected expression of the original designs, as shown below:
You can see other comparisons in the linked complaint. Pandora lawyers didn’t respond to a request for comment, nor have they filed a response yet. We’ll continue to follow this story and update you when they do.
Meanwhile, what do you all think?
Statistic of the week
Good news! Some 45% of U.S. consumers say they expect to spend on jewelry in the next three months, according to a recent McKinsey report on U.S. consumer behavior. Better yet, “jewelry” beat out every other discretionary category.
Obituary: Former Finlay, JSA chair David Cornstein
David Cornstein, who served as CEO and chairman of Finlay Enterprises, as well as board member and chair of the Jewelers’ Security Alliance, has died at 87, according to Legacy.com.
Cornstein also chaired the New York City Off-Track Betting Corporation for 16 years and was U.S. ambassador to Hungary from 2018 to 2020.
Botswana no longer seeks “majority stake” in De Beers: report
Botswana president Duma Boko has repeatedly said that his country wants a “majority stake” in De Beers. However, a recent Economist article (gift link) suggests that the country is willing to settle for a 25% holding, which would give it a “‘blocking minority’ to veto major decisions.”
“The most likely scenario,” the story says, “is that De Beers is bought by a broad consortium involving private investors and African governments, with the former in majority control.”
Tracr appoints new CEO
De Beers’ Tracr has appointed Jillian Wolk as its new CEO. Wolk was formerly GIA’s vice president for growth and strategic initiatives. Before that, she worked at Swarovski. Wolk takes over from Wesley Tucker, who left Tracr in February. The blockchain-based provenance-providing tech company recently unveiled a new website.
Jewelry store ad of the week: Luisa Graff Jewelers
A Colorado Springs jeweler’s ad manages to be a cheesy James Bond parody—and a meta-commentary on cheesy James Bond parodies at the same time.
Diamond news
Shivam Jewels is the one new sightholder De Beers added to its roster on March 20. (First India)
India’s Nityas Gems and Jewellery files for IPO (Reuters)
Watch news
Watch industry being reshaped by macro forces (WatchPro)
Miscellaneous
How a British jeweler destroyed his business trying to one-up the Fabergé egg (NPR)
Minnesota jeweler uses foraged materials for jewelry (Duluth News-Tribune)
Obituary: Andy Cass, U.K. sales rep (Retail Jeweller)
Princess Diana’s “iconic” 12 ct. sapphire engagement ring (InStyle)
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Fun time to talk about copyright law myths that persist, including the myth that if you change 3 things from someone else's design you're in the clear -- wrong!! A copyright owner owns the same rights in a derivative work (one based on the original) that they do on the original. I haven't read the complaint closely enough to see if they are claiming this but cool to see two big brands recently defending their copyright registrations.
I think the designs are different enough, as for LGD, interesting read 👍