More and More Companies Embrace Lab Grown Diamonds
As Lab Grown Diamonds continue to skyrocket in awareness, popularity, and demand, many companies are flocking to join the lab grown revolution. It’s no secret that more and more jewelry companies and designers are utilizing lab grown diamonds in their products every day. However, other types of companies have been embracing lab grown as well.
Swarovski Crystals has recently announced that they will be getting into lab grown diamonds. While they always used to stay clear of mined diamonds, lab grown diamonds has a specific appeal which goes back to the primary philosophy of the company and its founder.
“Diamonds are for royalty, but I want to create a stone for every woman, that every woman can afford.” – Daniel Swarovski, Founder of Swarovski
With the technological achievements which have made lab grown diamonds possible, his great-great grand daughter, Nadja Swarovski, is honoring her ancestor’s ideology by embracing this new form of diamond creation.
Other companies are utilizing lab grown diamonds as well and not just the ones you may be thinking of. Rolls Royce and Victoria’s Secret have both used lab grown diamonds in their products over the past year and with very similar rationale.
The dashboards on the limited-edition Rolls-Royce Adamas collection feature 88 black diamonds, all of which are lab grown. These diamonds came from ADA Diamonds and their CEO explained Rolls-Royce decision this way:
“Automakers are trying to out-green each other today, and that’s one of the reasons they are using our product,” he says. – Jon Payne CEO of ADA Diamonds”
Victoria’s Secret used lab grown diamonds for their signature piece, the “Fantasy Bra”, at their annual fashion show late last year. It was crafted by four seasoned artisans who spent nearly a thousand hours to create a bra featuring 2,100 lab grown diamonds including a 2.03 carat, pear-shaped diamond in the center. Victoria’s Secret has been known to have a strong sense of responsibility when it comes to helping and improving the environment, communities, inclusions, and labor practices. You can see why lab grown diamonds fits with their commitment.
“We’ve implemented an environmental sustainability program and established thoughtful partnerships that are helping us achieve that goal.” – Greg Cunningham, associate vice president environment, health, safety, and sustainability.
However, it’s not just companies embracing the rise of lab grown diamonds. To celebrate Pride month, Taylor Swift dropped a new music video titled “You Need to Calm Down.” In the video she sports a brilliant pair of diamond earrings made with pink, canary, and white lab grown diamonds. These earrings were created by the award winner designer, Anabela Chan who has been a vocal critic of mined diamonds since she visited a mine in 2013.
“Seeing is believing – I was shocked and saddened to see the working conditions of the mine, the risks and the inequality of the excavation of such precious things – there was nothing romantic and beautiful about it, and it was at that moment I decided to explore alternative options and began my research into championing laboratory-grown and created gemstones in my own fine jewelry collections.” – Anabela Chan, Award-Winning Jewelry Designer
As more and more influential companies and personalities embrace lab grown diamonds as a superior alternative to mined diamonds, there is no stopping the awareness of them from spreading. A recent study by MVI Marketing found that the market for lab-grown diamonds increased from 1 percent of the $14 billion rough diamond market in 2016 to an estimated 2 to 3 percent today. Furthermore, over 70% of millennials say they will consider/prefer a lab-grown diamond engagement ring.
As the awareness spreads and people learn the benefits of lab grown diamonds, we will likely see a steady or even exponential rise in demand over the next few years. It will be interesting to see which companies or personalities will be the next to join the lab grown diamond revolution.