精辟视野 JNA July/August 2023 | 45 JNA: Prices of lab-grown diamonds have been falling. How can the sector keep these at a respectable level? Park-Tonks: The concept of Veblen goods in economics applies here – consumer perception of an item increases in value as its price increases. It is therefore critical that we maintain a very confident price point for lab-grown diamonds. I see that the industry is currently suffering from extreme price discounting, which is a terrible thing for a luxury product. We should halt this race to the bottom – selling purely on price would destroy the market. I wish we could stop this downward spiral of price and adopt a baseline. We can justify this confident price through highend branding and storytelling, creativity and design, instead of just technology, product and price. It would be like Picasso selling his canvas or his paints rather than his art. JNA: Analysts and industry players often cite impressive growth rates for the lab-grown diamond sector. What is your take on these projections? Park-Tonks: There are a lot of statistics and projections being bandied around. As businesspeople, we feel comforted by facts and figures. But such figures are often not accurately referenced. More compelling than looking at charts, statistics and graphs is understanding the power of collective voice. The possibilities are endless if we work together diligently to prevent challenges like ever-decreasing prices and value erosion. The statistics that have been presented on the lab-grown diamond market have to be viewed in the proper perspective. It is the industry that has the power to make a difference. We will be releasing properly referenced figures in due time. JNA: What role do you want IGDA to play in the LGD space? Park-Tonks: One of my priorities at IGDA is to create a platform to come together as an industry. We are going through a period of consolidation. There will potentially be fewer players in the future and we need to monitor how the price crunch develops. But we are stronger together and must come together to speak as one sector and really push our category forward. There is a lot of good work we can do together. JNA: How is IGDA supporting the development of the labgrown diamond market? Park-Tonks: A key goal is providing the right information on lab-grown diamonds, especially at the retailer level. I am working on cue cards for retailers and IGDA members that would help them talk clearly about lab-grown diamonds with consumers in their stores. Ultimately, people buy what they are comfortable with. Disseminating real, useful information on lab-grown diamonds will help our category’s reputation. Omnichannel is the way forward and we need to work with retailers to promote consumer choice for lab-grown diamond purchases and provide them with the marketing assets and information needed so consumers can make solid decisions. Part of my work at IGDA is also working with different industry groups at a global level. I intend to put formal measures in place that will inform consumers of what they are buying. This entails promoting retailers and brands that sell certified goods but also possibly introducing a lab-grown diamond hallmark that can aid identification and disclosure. JNA: How do you address accusations of greenwashing that are often levelled against the sector? Park-Tonks: There is a lot of misinformation and disinformation written about sustainability and ecological benefits. Lab-grown diamonds are a product not of extractive mining but of manmade brilliance, ingenuity and technological innovation. However, just because they are made in a lab does not necessarily make them sustainable. We need to talk more honestly as a category about sustainability and be slightly wary and skeptical of relying only on carbon offsetting or thirdparty accreditation. Sustainability is a 360-degree picture – these conversations are not only about energy consumption per carat or the relative merits between growing techniques. We need to look at the ecological benefits and put people at the heart of the debate, looking at workers’ rights and the whole value chain within the industry. Sustainability is a journey, not a destination. Vivien Johnston Glass recently joined us at IGDA as Sustainability Chair to move this conversation forward properly. Joanna Park-Tonks, president, International Grown Diamond Association 国际培育钻石协会(IGDA)主席Joanna Park-Tonks
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