LGD Special 2022 – Summit Edition

LAB-GROWN DIAMOND Special 2022 实验室培育钻石特刊 INDUSTRY GAME CHANGERS 突破常规 Jewellery A Publication | May 2022 | US$15 Trends and forecasts 趋势和前瞻

目录 Spotlight 市场聚焦 Fenix Diamonds ups the ante on LGD sustainability 08 Fenix Diamonds提升培育钻石之可持续性 Game Changers 突破常规 Pushing boundaries in the lab-grown diamond world 10 实验室培育钻石业屡创佳绩 GIA leads LGD grading and identification 12 GIA推动培育钻石分级和鉴定发展 Smiling Rocks highlights design and innovation 13 Smiling Rocks以设计与创新为宗旨 Rockrush blazes a trail in the lab-grown space 14 培育钻石专家Rockrush另辟新径 ZS-Tech scores LGD breakthroughs 16 征世科技于培育钻石业成就斐然 Classic Grown Diamonds steps into LGD limelight 18 Classic Grown Diamonds跻身LGD业界焦点 Market Indicators 市场指标 Next-gen consumers and LGDs 20 新一代消费者与实验室培育钻石的关系 Focus 焦点 Dazzling prospects for lab-grown diamonds 22 实验室培育钻石前景璀璨 08 10 20 22 CONTENTS Digital version 电子版: jewellerynet.com/en-us/custom/publications

Every care has been taken to ensure the accuracy of the information in the Lab-Grown Diamond Special. However, the publication of such information is at the sole discretion of the publisher. The publisher and the editorial team shall not be held responsible or in any way held liable for any errors, omissions or inaccuracies in this publication, or for any consequences arising therefrom. The contents of this publication are protected by copyright and cannot be reproduced, photocopied, transmitted or posted in any form without the prior written consent of the publisher. 本公司已尽力确保《实验室培育钻石特刊》所刊登的内容正确无误。如因错漏而引致任何损失,本公司概不负责。本公司保留刊登有关资料的一切权利。版权所有,如未获得本公司事先之书面允 许,不得以任何方式翻印、仿制或转载本刊物任何部份之文字或图片。 Printed by Asia One Printing Limited,13/F, Asia One Tower, 8 Fung Yip Street, Chai Wan, Hong Kong. 印刷商: 宏亚印务有限公司香港柴湾丰业街8号宏亚大厦13楼 Associate Publisher & Editor-in-Chief Olivia Quiniquini 副出版人及主编 程爱莉 EDITORIAL 编辑部 Deputy Editor Bernardette Sto. Domingo 副编辑 杜明高 Assistant Digital Product Manager William Yick 助理数码产品经理 易康耀 ADVERTISING 广告部 Assistant Director Christine Sinn 区域营业总监 冼蕙珠 Digital & Sales Manager Ken Chan 數碼業務及銷售經理 陈赞健 MARKETING 市場推广部 Senior Marketing & Communications Manager Ronny Pang 高级市场及传讯经理 彭秋影 Senior Marketing & Communications Executive Grace Tam 高级市场及传讯主任 谭淑恩 CIRCULATION & SUBSCRIPTION 发行及订阅部 Assistant Media Services Manager Bonnie Law 助理媒体服务经理 罗凤伦 PRODUCTION 制作部 Production Manager Jennifer So 制作部经理 苏丽娟 Senior Designer Eva Kam 高级设计师 甘铭灵 Senior Exhibitions Administrative Executive Natalie Chan 珠宝展览部高级行政主任 陈晓盈 ADVERTISING REPRESENTATIVES 广告代理 China 中国: 广州代表处胡淑晶 | Tel 电话: (86) 20 8666 0158 Email 电邮: [email protected] Germany 德国: Liz Dobelmann | Tel 电话: (49) 721 384 1881 Email 电邮: [email protected] Italy 意大利: Mauro Arati | Tel 电话: (39) 02048517853 Email 电邮: [email protected] Japan 日本: Nobuaki Nito | Tel 电话: (81) 3 52961020 Email 电邮: [email protected] Taiwan 台湾: Rita Hung | Tel 电话: (886) 2 2738 3898 Email 电邮: [email protected] Thailand 泰国: Anna Vichvech | Tel 电话: (66) 2 036 0500 Email 电邮: [email protected] US 美国: Bonnie Chan | Tel 电话: (1) 347 906 4693 Email 电邮: [email protected] President & CEO – Asia Margaret Ma Connolly 亚洲主席及行政总裁 马颖 Senior Vice President – Asia David Bondi 亚洲高级副总裁 庞大为 Director of Jewellery Fairs Celine Lau 珠宝展览部总监 刘小雯 Published by Informa Markets 出版 1701-1705, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong 香港湾仔港湾道26号华润大厦1701-1705室 Email 电邮: [email protected] JewelleryNet.com

SPOTLIGHT JNA LAB-GROWN DIAMOND SPECIAL 2022 | 8 US-based Fenix Diamonds has bolstered the sustainability element of its premium-quality lab-grown diamonds by obtaining an international accreditation and upgrading its LGD narrative. 美国Fenix Diamonds透过国际认证和卓尔不凡的 培育钻石敍事,巩固其优秀出品的可持续性。 UPS THE ANTE ON LGD SUSTAINABILITY FENIX DIAMONDS Fenix Diamonds has steadily gained prominence in the lab-grown diamond (LGD) space since its inception in 2018, thanks to responsible business practices, ethically produced stones and its relentless desire to continuously innovate in the LGD field. The company recently obtained the SCS-007 Jewelry Sustainability Standard – Sustainability Rated Diamonds certification from SCS Global Services, making it a globally accredited producer and handler of “Certified Sustainability Rated Diamonds.” According to SCS, this certification standard, which applies to both natural and lab-grown diamonds, establishes unprecedented benchmarks of performance and transparency, featuring stringent environmental, social and governance achievement; climate neutrality; sustainable production practices with net zero impact; comprehensive origin traceability for the highest possible source-to-market certainty; and sustainability investments that support vulnerable communities. All these are backed by independent, third-party certification. “We passed a comprehensive SCS environmental, social and governance audit with an A+ rating for origin traceability, ethical stewardship, verified climate neutrality, sustainable production practices and sustainability investments,” Fenix Diamonds revealed. “Diamonds can also contribute to a greener and more 提升培育钻石之可持续性

市场聚焦 JNA LAB-GROWN DIAMOND SPECIAL 2022 | 9 sustainable tomorrow. That is why we are taking a stance – becoming accountable for our carbon footprint and providing consumers with transparency and a more sustainable option.” To further boost its sustainability narrative, Fenix Diamonds introduced the “5th c” of diamond quality, in addition to colour, clarity, cut and carat. The new c, which stands for “choice,” supports the notion of empowering modern buyers to make informed decisions when purchasing LGDs or mined diamonds, the company said. “Through years of innovation and scientific development, we are able to offer the consumer a new choice – a genuine alternative to mined diamonds,” it noted. “Fenix Diamonds is that new choice, whether your customer is looking for a large-sized or a fancy shape lab-grown diamond, or an exquisite fancy blue LGD.” Sparkling innovation Fenix Diamonds operates a certified carbon-neutral facility in India where it grows an expansive range of ready-to-ship LGD inventory that includes round labgrown diamonds as well as fancy shapes such as trillions, pears, ovals, emerald-cuts, princess and baguettes, to name a few. All shapes are cut and polished to specific ratios to maximise brilliance, fire and sparkle. It also runs a lab-grown diamond jewellery retail business. The company’s core products are 0.25-carat to 4-carat lab-grown diamonds of D-H colours and VS2 and above clarity grades in round and fancy shapes. It also offers commercial lab-grown diamonds of H-I-J colours and fancy blue LGDs. “On demand, production of special sizes and fancy shapes and colours is another of Fenix Diamonds’ fortes,” it added. “We can customise our production strengths to meet your exact needs.” Lab-grown diamonds bearing top colours and clarity grades are highly sought after and command a premium, according to Fenix Diamonds. Its stones are graded and certified using the same standards as mined diamonds by independent laboratories. The company also offers third-party laboratory certification for its lab-grown diamonds above 0.50 carat. 自2018年创办以来,Fenix Diamonds于实验室培 育钻石(LGD)领域实践负责任商业行为和道德 钻石生产,并不断创新,因而在行业的地位日 渐攀升。最近,该公司获SCS Global Services颁发“SCS007珠宝可持续发展标准——可持续发展等级钻石”认 证,成为全球认可的“经认证可持续等级钻石”生产及处 理商 S 。CS称,该认证适用于天然及实验室培育钻石,在产 品素质和透明度方面建立了前所未有的基准,当中涵盖 严格的环境、社会和管理规范;气候中和;净零影响可持 续生产;全面溯源及实现“来源到市场”的最高确定性; 以及支持弱势社群的可持续发展投资。以上项目均获独 立第 F 三 en 方 ix 认Di 证 am 。 onds透露:“我们通过了全面的SCS环境、 社会和管理审计程序,在溯源、道德管理、气候中和验证、 可持续生产实践和可持续投资方面获取A+评级。另外, 钻石亦可缔造更环保、更可持续的未来。因此我们为碳 足迹问责,为消费者提供更具透明度和可持续性之选。” 为了进一步提升可持续叙事,Fenix Diamonds在颜 色、净度、切工和克拉以外引入“第五个C”,代表“选择”, 借此支持当今买家在购买LGD或天然钻石时作出精明 抉择 该。 生产商表示:“经过多年的创新和科技发展,我们为 消费者提供了一项能真正替代开采钻石的崭新选择,为 您的客户提供大尺寸或花式切割培育钻石,甚至是优质 培育蓝钻。” 璀璨创意 Fenix Diamonds在印度的碳中和生产厂房建立了大 型LGD钻石库存,包括圆形及花式切割培育钻石,如三角 形、梨形、椭圆形、祖母绿式、公主方形和狭长方形等。所 有形状均按特定比例切割和打磨,令亮度、火彩和闪烁度 极致提升。该公司同时经营培育钻饰零售业务。 核心产品为0.25至4克拉,D至H色和拥有VS2及以上 净度的圆形和花式切割实验室培育钻石,亦有提供H、I、J 色商业级培育钻石和彩蓝LGD钻石。公司补充:“我们的 另一强项是按需生产特殊尺寸、花式切割和颜色的LGD 钻石,就着您的确切需求作出调整。” Fenix Diamonds称,具有顶级颜色和净度的培育钻 石备受追捧,而且价值不菲。其出品采用与天然钻石相等 的标准于独立鉴定所进行分级和认证。该公司还为0.50 克拉以上的LGD钻石提供第三方鉴定所认证。 All images courtesy of Fenix Diamonds 照片由Fenix Diamonds提供

GAME CHANGERS JNA LAB-GROWN DIAMOND SPECIAL 2022 | 10

突破常规 JNA LAB-GROWN DIAMOND SPECIAL 2022 | 11 Inventive specialists and related suppliers are harnessing the power of creativity and innovation to bring to market distinctive lab-grown diamond products that resonate with the consumers of today. Jewellers are weaving modern brand narratives centred on sustainability and philanthropy; manufacturers are extending technological frontiers to produce superior lab-grown diamonds; and ancillary enterprises are offering products and services to significantly increase consumer confidence in the sector. 饶富创新思维的培育钻石业专家和珠宝业供应商,将创意和创造力极致发 挥,造就一系列别具特色的产品,并与新兴消费群引起共鸣。珠宝商以可持 续发展和慈善道德为核心,编织出时尚的品牌故事;生产商的科技与日具 进,推出品质超群的实验室培育钻石;而辅助企业则透过提供相关的产品 和服务,大大增强消费者对行业的信心。 Visionary stakeholders in the lab-grown diamond space are revolutionising the sector with new product lines, refreshing marketing approaches and cutting-edge growing techniques. 实验室培育钻石业的持份者高瞻远瞩,不断将产品 推陈出新,同时实践新颖的营销策略和划时代的生产技术, 展现日新月异的革新精神。 Pushing boundaries in the lab-grown diamond world 实验室培育钻石业突破界限

GAME CHANGERS JNA LAB-GROWN DIAMOND SPECIAL 2022 | 12 HPHT and CVD growth methods 高温高压(HPHT)和化学气相沉积培育方法 The Gemological Institute of America (GIA) is helping consumers make informed buying decisions by providing stateof-the-art grading and identification services for lab-grown diamonds (LGD). At the heart of these initiatives is the GIA Laboratory-Grown Diamond Report alongside continuous research on LGDs, according to Tom Moses, executive vice president and chief laboratory and research officer at GIA. The digital reports cater to labgrown diamonds in the D to Z range as well as fancy colour diamonds. They include colour and clarity specifications, the method used to grow the LGDs and whether there is evidence of post-growth treatment. Moses underscored the importance of certification in the LGD field, noting growing demand for GIA’s Laboratory-Grown Diamond Reports amid rising consumer awareness. “As laboratory-grown diamonds have gained acceptance in the trade and by consumers, often as a category distinct from natural diamonds, it is important that their origin and characteristics are properly disclosed,” he said. GIA first examined gem-quality lab-grown diamonds created by General Electric more than 50 years ago and published the first scientific study of the then-new material in 1971. At present, GIA can identify LGDs produced via high pressure, high temperature (HPHT) and chemical vapor deposition (CVD) methods with 美国宝石研究院( G I A )通过 最先进的实验室培育钻石 (LGD)分级和鉴定服务,协 助消费者作出明智的购买决定。GIA 执行副总裁兼鉴定所和研究室首席 官Tom Moses表示,他们的核心项目 包括推出GIA实验室培育钻石报告, 以及就着这个钻石范畴的最新发展 持续进行研究。 该些数字报告适用于D至Z级颜 色的实验室培育钻石和彩色钻石,资 料包括颜色和净度规格、培育钻石的 方式,以及产品有否经过后期处理。 Moses强调鉴定报告在LGD领域 的重要性,并指出消费者意识提高的 同时,对GIA实验室培育钻石报告的 需求也不断增加。他说:“实验室培 育钻石越来越受业界和消费者认可, 亦被视为有别于天然钻石的类别,因 此,精确而详细地列出其来源和特质 是非 5 常 0多重 年要 前的 ,。G ” IA首次鉴定由通用电 气公司培育的宝石级LGD钻石,并在 1971年发表了对当时这项崭新物料 的第一份科研文献。如今,GIA已能够 百分百准确辨识以高温高压(HPHT) 和化学气相沉积法(CVD)生产的钻 石,并继续对培育钻石进行广泛而深 入的研究,领先一步了解培育程序、 处理方式和技术上的发展。 Moses透露:“研究工作包括在自 家科研设施中培育CVD钻石,以确保 我们能够掌握最新的技术、生产程序 和加工处理技巧。我们还会使用这些 内部生产的合成钻石,来改善和测试 我们的鉴别能力。” GIA窥见实验室培育钻石在珠宝 和宝石业的闪亮机遇,大前提是加以 善用。Moses称,现代培育技术使生产 商能够制造数量更多、尺寸更大的优 质钻石,以供应宝石和珠宝市场。 100 per cent accuracy. It continues extensive and in-depth research on lab-grown diamonds to stay ahead of advances in growth processes, treatments and technology. “That research includes growing CVD diamonds in our own research facility to ensure we have up-todate insights into new technology, processes and treatments. We also use these in-house produced synthetic diamonds to refine and challenge our identification abilities,” Moses disclosed. GIA sees glowing opportunities for lab-grown diamonds, provided these are properly disclosed. Moses said modern growth technologies have allowed producers to grow highquality LGDs in greater quantities and bigger sizes for the gem and jewellery market. The Gemological Institute of America is relentlessly making advances in lab-grown diamond testing and identification to foster consumer trust and confidence in the thriving LGD sector. 美国宝石研究院致力提升实验室培育钻石的测试 和鉴定水平,从而深化消费者对这个蓬勃行业的信任和信心。 GIA leads LGD grading and identification 推动培育钻石分级和鉴定发展 GIA Laboratory-Grown Diamond Report GIA实验室培育钻石报告

突破常规 JNA LAB-GROWN DIAMOND SPECIAL 2022 | 13 All images courtesy of Smiling Rocks 照片由Smiling Rocks提供 Three years into its inception, lab-grown diamond jewellery brand Smiling Rocks already works with over 500 retailers in the US and has strengthened its presence in Europe, Australia, the UK and Asia, with an eye to double its retail network by end-2022. “The lab-grown diamond business has grown tremendously as the market becomes more accepting of this innovative product,” remarked Smiling Rocks CEO Zulu Ghevriya. Inspired by this growth potential as well as the opportunity to give back to society, Ghevriya and his brother, Manish Jiwani, founded Smiling Rocks in 2019 as a contemporary lab-grown diamond jewellery brand that operates on a “philanthropic” business model. At present, the brand supports different charities under four initiatives – environmental preservation, educational andmedical support, and animal protection. Glittering collections Smiling Rocks positions itself as the premium lab-grown diamond jewellery brand, particularly in the engagement and bridal segment. Its portfolio consists of basic essential, bridal, fine fashion and high jewellery collections and recently, a men’s engagement ring line. This men’s collection offers six designs adorned with round and fancy lab-grown diamonds in 14-karat 創办三年以来,实验室培育 钻饰品牌Smiling Rocks已 经与美国500多家零售商合 作,同时加强开拓欧洲、澳大利亚、英 国和亚洲市场,并计划在2022年底前 将零售网络扩大一倍。 Smiling Rocks首席执行官Zulu Ghevriya称:“随着实验室培育钻石 越来越受市场欢迎,这项创新产品的 业务亦有可观增长。” Ghevriya和兄长Manish Jiwani窥 见其发展潜力,同时希望回馈社会, 因此在2019年创立了Smiling Rocks。 这个洋溢当代风格的培育钻饰品牌, 采用“慈善”商业运营模式,目前循 四个方向支持不同的慈善项目,分别 是环境保护、教育、医疗和动物权益。 闪闪生辉的系列 Smiling Rocks定位为顶尖实验室 培育钻饰品牌,尤其聚焦在订婚和婚 庆领域。产品包括基本款式、婚庆首 饰、高级时尚设计和奢华珠宝,最近 还推出了男士订婚戒指系列。 男士系列提供六种设计选择,当 中14K和18K黄金或铂金订婚戒指 上,镶嵌了圆形和花式切割实验室培 育钻石。钻石具有多种切割和形状, 主石重1克拉至3克拉。 Ghevriya指出:“我们的男士订婚 戒指宣传企划,完全体现了男士与首 饰之间的联系,这点反映于经典戒指 的慑人魅力之中。设计赋予鲜明轮 廓,散发阳刚气息——现在是时候让 男士拥有奢华的单石戒指了。” Smiling Rocks的设计师作品广泛 迎合奢侈以至时尚等消费市场,令该 公司深感自豪。Ghevriya说:“我们是 一个实力非凡的生产和品牌合作伙 伴,从裸石到成品珠宝,全面满足终 端消费者不断蜕变的需求和喜好。” and 18-karat gold or platinum. The diamonds come in a variety of cuts and shapes and are available in 1-carat to 3-carat centre stones. “Our men’s engagement ring campaign is all about a man’s connection with his jewellery as reflected in the magnetic aura of the classic rings,” noted Ghevriya. “It is time for men to enjoy the luxury of owning a solitaire ring with bold and masculine designs.” Smiling Rocks takes pride in its designers whose creations cater to a wide range of consumer markets, from luxury to fashion. “From loose stones to finished jewellery, we are a strong manufacturing and brand partner that can support the everevolving demand and preference of end-consumers,” said Ghevriya. Riding on the exponential growth of the lab-grown diamond industry, Smiling Rocks is cementing its sparkling future with inventive collections and a strong brand narrative grounded on sustainability. 实验室培育钻石业发展一日千里,Smiling Rocks乘着这股升浪, 以其创意钻饰和可持续发展的品牌敍事,巩固璀璨未来。 highlights design and innovation Smiling Rocks 以设计与创新为宗旨 Men’ s engagement rings 男士订婚戒指

GAME CHANGERS JNA LAB-GROWN DIAMOND SPECIAL 2022 | 14 All images courtesy of Rockrush 照片由Rockrush提供 Rockrush is disrupting the disruptive world of lab-grown diamonds by defying existing limitations of sizes and cuts. Its breakthroughs in the field open up new horizons for the fast-growing category. Rockrush超越实验室培育钻石在尺寸和 切割上的既有限制,在业界大放异彩。种种突破性成就,为这个发展迅速的范畴开拓新领域。 blazes a trail in the lab-grown space Rockrush 培育钻石专家另辟新径 Rockrush is expanding possibilities in the lab-grown diamond sector by filling the gap in the market for bigger, gemquality stones. Smit Virani, director of the Hong Kong-based lab-grown diamond manufacturer, said, “Demand is always healthy for commercial stones from 1 to 5 carats in all shapes and sizes. But there is also a huge pickup for stones of 5 carats and up. This indicates that lab-grown diamonds are developing into a full-fledged jewellery category with countless design possibilities.” Attesting to Rockrush’s capabilities is the 14.60-carat Freedom of India, a VS2 lab-grown diamond in F colour – one of the largest ever produced by chemical vapor deposition (CVD). The company also has special cuts for its lab-grown diamonds, adapting the Optica series of diamond cuts, licensed from diamantaire Hini Star Ltd. Star-inspired Optica Stelo has 91 facets; Rozo, 56 facets; and floral-patterned Floro, 77 facets. “Our initiatives encourage consumers to see things in a different light,” Virani said. “We are opening up a whole new world of lab-grown diamonds to consumers across the globe, offering spectacular gemquality stones with fascinating production stories and enticing new designs.” Rockrush’s colourless Rockrush最近以一颗14.60克拉 的“Freedom of India”实验室培育 钻石展示其技术实力,这颗钻石采用 化学气相沉积(CVD)技术制造,是以 此技术培育的其中一颗最大的钻石, 拥有VS2级别净度及F成色。他们最 近获Hini Star Ltd授权使用其Optica 系列钻石切割技术,为其实验室培育 钻石推出多款独特样式:星型(Stelo) 拥有91个切割面、玫瑰型(Rozo)拥有 56个切割面、花型(Floro)则有77个 切割 V 面 ira 。ni说:“本公司的一系列新猷, 鼓励消费者打破旧有观念。我们旨 在提供至臻完美的宝石级别钻石, 以极致的生产工艺和新颖迷人的设 计为全球消费者开拓培育钻石新天 地。”Rockrush提供D至H成色的无色 钻石,另外也制造多种彩色实验室培 育钻石。 璀璨前景 据Virani所称,实验室培育钻石市 场的按年增长仍然相当显著。北美市 场的需求冠绝全球,而东南亚地区的 消费者接受度亦有所提升。 Virani预期,由于现时产品供不应 求,因此制造量亦会相应大增。他解 释:“市场上将会出现越来越多已打 磨的培育钻石,但是因为新产量可被 需求吸收,所以价格将会保持平稳。” Virani最后补充,Rockrush致力投 放资源进行教育和支持业内生力军, 这点有助消除大众对实验室培育钻 石的误解。 stones come in D to H colours. The company’s production also includes a wide array of fancy colour labgrown diamonds. Bright prospects The market for lab-grown diamonds is growing exponentially year on year, according to Virani. North America leads demand, with consumer acceptance catching on in Southeast Asia as well. Virani thus expects production to soar as demand outstrips supply. “There will be more and more carats of polished lab-grown diamonds entering the marketplace. Prices should remain stable though as there is enough demand to absorb new production,” he explained. Rockrush invests in education and support for new players in the industry to help eradicate misconceptions about lab-grown diamonds, Virani added. Rockrush透过制造尺寸更大、 宝石级别的实验室培育钻石, 以填补市场空白,借此创造独 特地 这位 家。 实验室培育钻石的生产商及 制造商总监Smit Virani指出:“各种 形状和尺寸的1至5克拉商业级别钻 石需求一向稳健,但是5克拉或以上 的钻石,受欢迎程度也大有增长,意 味着实验室培育钻石现正发展成一 个完整的珠宝类别,在设计上拥有无 限可能性。”

GAME CHANGERS JNA LAB-GROWN DIAMOND SPECIAL 2022 | 16 All images courtesy of ZS-Tech 所有照片由征世科技提供 Shanghai Zhengshi Technology Co Ltd (ZS-Tech) is spearheading innovation and development in the lab-grown diamond sector, particularly with regards to the chemical vapor deposition (CVD) growth method. The multinational company has proven its mastery of the process by pioneering key initiatives that cement its position as a leading producer of gem-quality CVD diamonds in a wide range of sizes, colours and clarity grades. ZS-Tech specialises in the research and development (R&D), production and sales of industrialgrade to gem-quality lab-grown diamonds. The company has a business presence in over 27 countries and regions, and operates wholly owned subsidiaries in Hong Kong, New York and Los Angeles. Among its milestones is its record-breaking 16.41-carat princesscut lab-grown diamond produced in 2021, which was certified by the Gemological Institute of America (GIA) as the world’s largest lab-grown CVD diamond. GIA experts graded 上海征世科技股份有限公司 (简称“征世科技”)是实验 室培育钻石业界的龙头企 业,在创新科技范畴屡创佳绩,尤以 化学气相沉积法(CVD)为强项。 作为业界先驱,这家跨国企业的 产品水平卓越,无论是重量、颜色或 净度,其CVD钻石已攀上珠宝级培育 钻石 征之 世巅 科峰 技。 集研发、生产、销售为一 体,产品涵盖工业级和珠宝级实验室 培育钻石。该公司的业务覆盖27个国 家和地区,在香港地区、纽约和洛杉 矶均设有全资子公司。 该公司在 2 0 2 1年生产了一颗 16.41克拉的公主方形切割钻石,获 美国宝石研究院(GIA)鉴定为全球最 大的CVD培育钻石,刷新世界纪录, 亦成为其业务的里程碑。GIA专家对 这颗钻石进行分级时,采用了该鉴定 所就着实验室培育钻石所规划的严 格流 征程 世。 科技以高超技术培育优质钻 石,其主营的1-17克拉钻石颜色达G 色以上,净度则为VS1以上,并且无需 进行后期改色处理或改善净度。 此外,该公司已完全掌握微波等 离子化学气相沉淀法(MPCVD),是研 发方面的另一重大突破,对实验室培 育钻石业界贡献良多。 产品质量好、生产效率高一直是 征世科技推出工业级和珠宝级培育 钻石的不懈追求。他们将会继续提供 尺寸更大、更优秀的培育美钻,并透 过研发崭新技术和物料,令业务更上 一层楼。 the diamond using the institute’s standard rigorous process for labgrown diamonds. ZS-Tech also prides itself on its ability tooffer high-quality "as-grown" diamonds. The manufacturer’s technical prowess enables it to produce lab-grown diamonds of 1 to 17 carats in at least G-colour and a clarity grade of VS1 or higher without the need for post-growth treatment or clarity enhancement. The company also perfected the MPCVD (Microwave Plasma-enhanced Chemical Vapor Deposition) process – another significant R&D breakthrough that benefits the entire lab-grown diamond community. ZS-Tech said it has successfully addressed challenges in ensuring product quality and manufacturing efficiency in the mass production of lab-grown diamonds for industrial and jewellery-making applications. The company remains firmly committed to delivering lab-grown diamonds of bigger sizes and better quality while continually improving the manufacturing process by developing new techniques and materials. Bagging several firsts in the lab-grown diamond sector, ZS-Tech pushes the envelope on innovation and product quality through trailblazing R&D and technological advances. 征世科技在实验室培育钻石领域完成多项创举, 透过革新研发和在技术上的长足进步,贯彻创新与品质为先的宗旨。 ZS-Tech scores LGD breakthroughs 征世科技于培育钻石业成就斐然

GAME CHANGERS JNA LAB-GROWN DIAMOND SPECIAL 2022 | 18 All images courtesy of Classic Grown Diamonds 照片由Classic Grown Diamonds提供 The future is bright for labgrown diamond (LGD) producers, thanks to steady market demand and continuous supply of goods, according to Classic Grown Diamonds. Established in 2013, the company – part of Shashvat Diamonds Inc, which is based in New York – has offices in New York, Hong Kong, Antwerp and London. Classic Grown Diamonds’ transition to the LGD business is a success story, with the manufacturer establishing a solid customer base in major jewellery markets. Global Operations Director Shashvat Sadhani shared, “We have been producing lab-grown diamonds for close to a decade now. We were initially in the HPHT (high pressure, high temperature) natural diamond business and eventually switched to LGDs. It was a monumental shift.” The company’s strength lies in the production of D- to G-colour labgrown diamonds, including solitaires and small loose stones. Its lab-grown diamonds come with certifications from the Gemological Institute of America and the International Gemological Institute. Sadhani said market appetite for 1-carat to 3-carat lab-grown diamonds in fancy shapes such as ovals and pears remains robust, with North America driving demand. 在市场需求持续和产品供应 源源不绝的基础上,Classic Grown Diamonds认为实 验室培育钻石(LGD)生产商的前景无 限。该公司创立于2013年,隶属纽约 Shashvat Diamonds Inc旗下,在纽 约、香港地区、比利时和伦敦均设有 办事处。 Classic Grown Diamonds成功 投身LGD业务,并在主要珠宝市场建 立了稳固的客户群。全球运营总监 Shashvat Sadhani分享道:“本公司 生产实验室培育钻石已接近十年。我 们最初从事高压高温(HPHT)天然钻 石业务,最终转型生产LGD钻石。这 是一个重大的转变。” 该公司擅长培育D色至G色钻石, 当中包括单颗美钻和小型裸钻,产品 获美国宝石研究院(GIA)和国际宝石 学院 S ( a IG dh I)认 an 证 i表 。示,市场对1至3克拉的 LGD花式切割钻石,尤其是椭圆形和 梨形的需求依然非常强劲,北美市场 更是背后的推动力。 Classic Grown Diamonds亦提供 一系列镶嵌实验室培育钻石的成品 首饰。买家可以从琳琅满目的产品之 中仔细挑选,包括婚庆首饰、层叠式 戒指、耳环、网球手链、项链和吊坠。 据Sadhani称,多年来实验室培育 钻石业务呈几何级数增长,在国际珠 宝和宝石业的受欢迎程度与日具增。 然而,该行业在建立和维持消费者对 LGD钻石的信心方面仍然面临挑战。 他指出:“实验室培育钻石业已经 成功克服了过去种种挑战。而目前, 我们需要加强市场对产品的信心,而 且避免降价行为。买家保证可以持续 获得各种形状和尺寸的培育钻石,以 满足珠宝制造商的需求,从而为LGD 钻石生产商提供充裕的发展机会。” Classic Grown Diamonds also offers finished jewellery with labgrown diamonds. Buyers can choose from a diverse selection that includes bridal jewellery, stackable rings, earrings, tennis bracelets, necklaces and pendants. According to Sadhani, the labgrown diamond business has expanded exponentially over the years and continues to gain traction in the international jewellery and gemstone trade. The sector however faces the challenges of building and preserving consumer confidence in lab-grown diamonds. “The lab-grown diamond industry has emerged successfully frommany other challenges in the past. For now, we need to foster confidence in the product. We should also avoid reducing prices,” noted Sadhani. “Buyers are assured of consistent supply of LGDs in various shapes and sizes to support the needs of jewellery manufacturers, providing ample growth opportunities for labgrown diamonds producers.” Almost a decade into its lab-grown diamond business, Classic Grown Diamonds continues to soar in prominence as a reliable source of top-quality LGDs. 近十年來,Classic Grown Diamonds从事培育钻石业务,在行内声名显赫, 成为备受信赖的顶级LGD钻石供应商。 Diamonds steps into LGD limelight Classic Grown 跻身LGD业界焦点

MARKET INDICATORS JNA LAB-GROWN DIAMOND SPECIAL 2022 | 20 Loyale Paris pictures courtesy of The MVEye Loyale Paris照片由The MVEye提供 India’s exports of lab-grown diamonds from April 2021 to January 2022, in US dollars, a nearly 113 per cent year-on-year increase, data from the Gem & Jewellery Export Promotion Council showed. 印度从2021年4月至2022年1月的实验室培育钻石出口额(以美元计),同比飙升近113%。 数据由印度宝石和珠宝出口促进委员会(GJEPC)提供。 1.05B 10.5亿 Next-gen consumers and LGDs Percentage of respondents who would purchase a lab-grown diamond over a mined diamond, given a price versus size versus quality equation. Thirty-two per cent said they would buy a mined diamond, while 22 per cent were “not sure.” Of the 754 US consumers participating in the It Takes A Long Time to Become Young study conducted in February 2022, 59 per cent were female and 41 per cent male, aged 20 to 35, with household incomes more than US$50,000. 衡量价格、尺寸和质量三方面因素后,偏向购买实 验室培育钻石而非开采钻石的受访者百分比。另 外,32%的人士表示会购买开采钻石,22%则表示“ 不确定”。“It Takes A Long Time to Become Young” 研究在2022年2月进行,754名受访美国消费者之 中,有59%为女性,41%为男性,年龄在20至35岁之 间,家庭收入超过50,000美元。 新一代消费者与实验室培育钻石的关系 Percentage of respondents in The MVEye’s 2022 Next Gen Consumer Lab-Grown Diamond Market Research Report that were aware of lab-grown diamonds and are purchasing these for themselves and as a gift for others. The MVEye公司的2022年“实验室培育钻石新一代消 费市场研究报告”中,对培育钻石有认识,并会为自 己购买或赠送别人的受访者百分比。 72 44 "This study once again reiterates that the most powerful demographic forces behind ongoing diamond consumption are the 20- to 35-year-old Millennial and Gen Z consumers. They are embracing each other and embracing lab-grown diamonds as the symbol of their love." “这项研究再次证明,现时钻石消费市场最庞大的目标客群为20至35岁的千禧世代和Z世代 消费者。他们已欣然接受实验室培育钻石,把它视为爱情的象征。” – Liz Chatelain, president, The MVEye主席

实验室培育钻石生产商Diamond Foundry的第二所厂房年产量(以克拉计)。由2025年起,这个位于西班牙特鲁希略、斥 资8.5亿美元建造的设施,将会为珠宝业和半导体业生产实验室培育钻石,并将以全太阳能发电。Diamond Foundry亦 会继续扩充位于美国华盛顿州以水力发电的厂房。 市场指标 JNA LAB-GROWN DIAMOND SPECIAL 2022 | 21 Lab-grown diamond rings by Smiling Rocks Smiling Rocks的实验室培育钻石戒指 28 China is the top manufacturer of lab-grown diamonds, producing roughly half of the global total of around 6 million carats, according to market research firm Daxue Consulting. Some 80 per cent of China’s labgrown diamond output – largely using the high pressure, high temperature (HPHT) method – is produced in Henan province. Lab-grown diamonds accounted for 28.4 per cent of US engagement ring sales in 2021, up from 18.7 per cent in 2020, according to the 2022 BriteCo Diamond Engagement Ring Report based on data compiled from the 2020-2021 insurance and appraisal database of US jewellery and watch insurance company BriteCo. Average expenditure for a lab-grown diamond engagement ring in 2021 was US$4,388, an 8.6 per cent increase over US$4,037 in 2020. The report also found that the average size of lab-grown diamonds for engagement rings rose to 1.49 carats compared to 1.34 carats the previous year. 据市场研究公司Daxue Consulting的资料显示,中国是领先全球的实验室培育钻石生产国,占全球总产量600万 克拉的一半左右。中国的培育钻石主要采用高温高压(HPHT)技术生成,大约八成在河南省生产。 美国珠宝和手表保险公司BriteCo的2022年“钻石订婚戒指报告”,以该公司在2020至2021年的保险和评估数据为基 础。报告指出,实验室培育钻石占2021年美国订婚戒指销售额的28.4%,高于2020年的18.7%。在2021年,实验室培育 钻石订婚戒指的平均支出为4,388美元,比2020年的4,037美元上升了8.6%。报告还发现,用于制作订婚戒指的实验室 培育钻石,平均尺寸由前一年的1.34克拉增加至1.49克拉。 Top manufacturers of lab-grown diamonds as of 2019 2019年实验室培育钻石主要生产国 Country 国家 Share of global production 所占全球生产量份额 China 中国 56% India 印度 15% US 美国 13% Annual production capacity, in carats, of the second facility of lab-grown diamond producer Diamond Foundry. From 2025, the US$850 million project in Spain will produce lab-grown diamonds for the jewellery and semiconductor industries. According to Diamond Foundry, the new facility will be entirely powered by solar electricity. The company is also further scaling its Washington State foundry, which is fully hydro-powered. 10M 1,000万 Source 資料來源: Statista

SPOTLIGHT JNA LAB-GROWN DIAMOND SPECIAL 2022 | 22 Lab-grown diamond jewellery by Smiling Rocks Smiling Rocks的实验室培育钻饰 Bezel jewellery by Lightbox Lightbox的Bezel系列首饰 Men’s engagement rings by Smiling Rocks Smiling Rocks的男士订婚戒指 | Olivia Quiniquini 程爱莉 | Lab-grown diamonds are making significant strides in the market as their value-for-money proposition, relevant social narrative and attractive branded designs endear them to modern consumers. 实验室培育钻石主张物超所值,并积极推广切合社会议题的产品故事, 加上吸引力非凡的品牌设计,因此深受现代消费者喜爱,在市场上的发展欣欣向荣。 Dazzling prospects 实验室培育钻石前景璀璨 FOR LAB-GROWN DIAMONDS

市场聚焦 JNA LAB-GROWN DIAMOND SPECIAL 2022 | 23 80 In 2020, 80 per cent of US consumers polled by The MVEye were aware of lab-grown diamonds, up from 9 per cent in 2010 and 30 per cent in 2016 在2020年,80%的受访美国消费者对实验室培育钻石 有所认识,高于2010的9%和2016年的30%, 数据源自The MVEye的研究 The lab-grown diamond (LGD) industry is growing by leaps and bounds as the product’s narrative of sustainability, flexibility and innovation resonates with more consumers around the world. Industry analyst Paul Zimnisky forecasts that the lab-grown diamond jewellery market will almost double in size by 2025. In a press release issued in October 2021, Zimnisky said, “Estimated lab-diamond production for use in jewellery has grown from just a few hundred-thousand polished carats per annum as recently as four years ago to almost three million polished carats in 2021 worth almost US$2 billion, representing an estimated mid-tohigh single-digit percentage of the total global polished diamond market. The figure is forecast to grow to almost US$4 billion by 2025.” Liz Chatelain, president of market research and consulting firm The MVEye, estimates that lab-grown diamonds currently constitute around 8 per cent of the global diamond market. “Large sizes of lab-grown diamonds with consistent quality are in demand across markets. Coloured LGDs are also much sought after. ‘As Grown’ stones, which did not undergo any post-growth treatment or colour enhancement, are also favoured and becoming a differentiator in the retail space,” Chatelain revealed. While the US is arguably the largest market for LGDs at present, Australia, India, China and Europe are seeing the most growth in demand, she said. Zulu Ghevriya, CEO of lab-grown diamond jewellery brand Smiling Rocks, agrees. Demand for LGD jewellery is soaring in the UK and Australia, while Japan and South Korea have started to take notice of the product category, he points out. “Asian markets traditionally believe luxury should be a high-value asset. Modern consumers in Asia are however now seeing lab-grown diamonds as a luxury option and appreciate what they represent,” said Ghevriya. Product appeal Consumer awareness and acceptance is driving the growth of the LGD category, Chatelain noted. In 2010, only 9 per cent of consumers in North America polled by The MVEye were aware of lab-grown diamonds. This grew to 16 per cent in 2012, 21 per cent in 2014 and 30 per cent in 2016 before jumping to 58 per cent in 2018 and soaring to 80 per cent in 2020. Several factors contributed to the growth of acceptance of LGDs, said Chatelain. Over the years, retailers increasingly embraced the category as it offered solid margins and enhanced their business alongside mined diamond items. Growing customer requests for the product also prompted retailers to stock LGDs. Celebrity endorsements of – and in some cases, investments in – LGD brands boosted the category’s credibility and appeal among consumers. LGD demand was strengthened too by the emphasis placed by millennials and Gen Zs on anything sustainable, including LGDs, Chatelain added. The growth in lab-grown diamond brands and their subsequent direct-to-consumer advertising likewise played a significant role in raising awareness and interest in the category. Lab-grown diamond jewellery by Smiling Rocks的实验室培育钻饰

SPOTLIGHT JNA LAB-GROWN DIAMOND SPECIAL 2022 | 24 Substantial price differentials are another potent draw. In his October 2021 release, Zimnisky said a consumer could buy a better-than-average-quality 2.15carat lab-grown diamond solitaire for the equivalent of a 1-carat mined diamond. “In general, the price differential between generic lab-created and natural diamonds has steadily widened in recent years – in some cases, expanding from a 10 to 15 per cent differential just a few years ago to as much as 75 per cent or more at present, with the differential being the ‘discount’ of a lab-diamond relative to a natural diamond of similar size and quality,” he said. Cost savings was always the leading or secondhighest purchasing driver for lab-grown diamonds in The MVEye research studies, Chatelain attested. “Consumers are asking for LGDs because they either want to save money – from 30 per cent and up – or get a bigger diamond for the same amount they would have spent on a mined diamond. They are also being influenced by increasing awareness of environmental issues, sustainability and country of origin. Those issues are impacting consumer perceptions that LGDs are more environmentally friendly and socially responsible,” Chatelain explained. Diamond certification also helps enhance LGD credibility in the market, she added. Trade action The exponential growth in demand for lab-grown diamonds has spurred brisk activity in the sector. Industry players are banding together to help expand the market, growers are outdoing themselves in developing state-of-the-art techniques to produce superior goods, and jewellery brands are rolling out fresh collections and exploring new niches. The International Grown Diamond Association (IGDA), founded in 2016, has assembled a dynamic team of industry leaders to help chart its strategic and tactical priorities. Stakeholders voluntarily serving in IGDA’s International Leadership Committee include Lusix Vice President of Business Development Daniel Kahn, Lumex CEO Vishal Mehta and Joy Colori Founder Irene Hsieh. Richard Garard, IGDA founder and president, said the non-profit association aimed to be a diverse and international organisation and a voice of authority for the lab-grown diamond industry. IGDA’s priorities are to grow global consumer membership particularly among jewellery retailers, offer retailer training programmes to help them increase labgrown diamond sales and provide consumer marketing support for retailers that want to educate the public about the category. Leadership committee member Charlotte Daehn, director of communication for Parisian lab-grown diamond jewellery brand Courbet, said, “The lab-grown diamond is the gemstone of the next generation and deserves to be presented with transparency, honesty The lab-grown diamond is the gemstone of the next generation and deserves to be presented with transparency, honesty and objectivity. – Charlotte Daehn, director of communication, Courbet Zulu Ghevriya, CEO, Smiling Rocks 首席执行官 Bezel collection by Lightbox Lightbox的Bezel系列

市场聚焦 JNA LAB-GROWN DIAMOND SPECIAL 2022 | 25 and objectivity. With the rapid growth of the lab-grown diamond market, strengthening IGDA has become a necessity. With this international leadership committee, we aim to disseminate effective tools for the industry and clear messages for consumers.” Hong Kong jeweller Chow Sang Sang Group has meanwhile has created an e-commerce site to sell branded lab-grown diamond jewellery direct to consumers. Run as a separate entity from the Chow Sang Sang network, The Future Rocks platform features lab-grown diamond jewellery brands from the US, the UK, Israel and Japan, among others. Brand expansions The LGD space comfortably accommodates brands – both established players expanding into lab-grown diamonds and dedicated specialists that weave engaging brand narratives that are centred on modern romances and sustainability. Pandora introduced a lab-grown diamond jewellery collection in the UK in May 2021 after announcing that it would no longer use mined diamonds in its pieces. With a reimagined infinity symbol as its main motif, Pandora Brilliance comprises rings, bangles, necklaces and earrings, each with a single lab-grown diamond hand-set in silver, yellow or white gold. In Pandora’s teleconference on its Q1 2022 results in early May, CEO Alexander Lacik said the brand would expand Pandora Brilliance’s geographical footprint later in the year. “We have continued to play around with the model, in the UK in particular, focusing on visual merchandising, distribution and assortment variations. The learnings are very valuable as we get ready for further market entries,” he disclosed. LGDs also prove an effective vehicle for jewellery brand rebirths, particularly in France. Vever and Oscar Massin are but two French heritage jewellery brands that have resurfaced with sustainable credentials, notably lab-grown diamonds and recycled precious metals. Vever relaunched last year after a 40-year hiatus with Art Nouveau-inspired pieces, while Oscar Massin applies the famed jeweller’s design techniques and motifs to modern styles. For its part, Lightbox launched in 2018, offering jewellery with pink, blue and colourless lab-grown diamonds priced at US$800 per carat plus US$100 for silver setting and US$200 for 10-karat gold. Today, its portfolio includes larger stones, jewellery with betterquality LGDs and even loose stones. In August 2021, the brand started providing its pink, blue and colourless LGDs in sizes up to 2 carats. Following its standard pricing structure, a 2-carat pendant costs US$1,600 plus the cost of the setting. Finest, its premium line, consists of 18-karat gold jewellery with VVS lab-grown diamonds in D-E-F colours made through a proprietary diamond engineering process. Finest stones are priced at US$1,500 per carat plus setting cost. Lightbox Loose Stones sells the brand’s lab-grown diamonds at US$200 per quarter-carat, while the brand’s latest collection, Bezel, offers an additional design option. Nick Smart, Lightbox’s commercial director, said, “From listening to our customers, we knew they were interested in larger carat weights and higher-quality stone offerings. It is really about choice and giving the consumer what they want. For instance, loose stones opened up a new purchasing category and enabled consumers to get creative and experiment with design at an affordable price point.” Market segments Smart believes the best opportunity for lab-grown diamonds lies in the less-than-US$2,000 fashion space, which plays to the strength of the product. “Consumers are now more educated about lab-grown diamonds, and we continue to see strong demand across a variety of segments. Whether it is self-purchase, a repeat purchase or an everyday occasion purchase, shoppers want high-quality, transparent and accessible prices and beautifully designed lab-grown diamond jewellery,” said Smart. Wedding-related jewellery is showing much promise as well, according to Chatelain. Since larger lab-grown diamonds are now available, consumers are increasingly considering LGDs for their engagement rings thereby driving up demand. 'Bezel' jewellery by Lightbox Lightbox的Bezel系列首饰

SPOTLIGHT JNA LAB-GROWN DIAMOND SPECIAL 2022 | 26 She revealed, “In most of our studies, respondents picked fashion pieces as the top occasion/reason to opt for LGD jewellery. But there is a definite trend in brides choosing LGDs. They could have a bigger centre stone – at least 20 per cent bigger – for the money they would have spent on a mined diamond or they could spend less for the size of the diamond they wanted.” In The MVEye’s 2022 Next Gen Consumer Lab-Grown Diamond Market Research Report on millennials and Gen Zs, engagement rings – either centre stones or side stones – were the fourth top reason for picking LGD jewellery, followed by brides’ wedding ring/band and grooms’ wedding ring/band. Gifts for oneself and for others were the second and third leading occasions for LGD jewellery purchases, respectively. “An April 2022 study also indicates that 24 per cent of engagement ring purchases are made with lab-grown diamonds,” Chatelain added. More consumers are indeed saying ‘I do’ to lab-grown diamonds. Smiling Rocks’ bridal jewellery collections are among its best sellers, said Ghevriya. He is training his sights on the engagement and bridal segment this year, believing it has great potential to become a major pillar of the business. Smiling Rocks is also making inroads in the men’s jewellery market with a collection of engagement rings in gold or platinum with 3- to 4-carat lab-grown diamond centre stones. Bright future Lightbox debuted as a direct-to-consumer business, and its collection used to be exclusively available to US customers on its own website. The brand now ships to 75 countries globally and has a presence at 125 stores across the US and Canada, said Smart. “To date, growth has exceeded expectations – sales are up four times over last year and we expect they will double again this year. We are continuing to open more doors, particularly across North America and are always evaluating opportunities that will help make our product available to more people, more often,” he said. Growing consumer demand is putting pressure on supply, prompting LGD growers to expand their manufacturing facilities. Lusix is building a new solar-powered plant in Israel, while Diamond Foundry is investing US$850 million in a second facility, in Trujillo, Spain. Lightbox’s US$94 million manufacturing facility in Oregon reached its Phase 1 annual capacity of 200,000 polished carats at the end of 2021. Smart said the company expects to expand to thrice its current capacity in the future. “Lab-grown diamonds are definitely here to stay. The lower price points of LGDs versus mined diamonds allow more consumers to afford diamonds. We see the pie growing, and not a cannibalisation of the mined diamond market,” said Chatelain. Large sizes of lab-grown diamonds with consistent quality are in demand across markets. Coloured LGDs are also much sought after. ‘As Grown’ stones, which did not undergo any post-growth treatment or colour enhancement, are also favoured and becoming a differentiator in the retail space. – Liz Chatelain, president, The MVEye Liz Chatelain, president, The MVEye主席

RkJQdWJsaXNoZXIy NjAxOTU=