MARKET INTELLIGENCE 50 | JNA May/June 2023 Stronger demand for lab-grown diamonds hinges upon the market’s growing penchant for traceable, sustainable and more affordable product options. 市场倾向支持可溯源、可持 续和价钱更亲民的产品，为实验室培育钻石市场带来增长契机。 | Bernardette Sto. Domingo 杜明高 | GoGreen Diamonds窥见实验室培育钻石之耀眼未来 GoGreen Diamonds is capitalising on soaring market preference for lab-grown diamonds (LGD) while relying on continuous innovation to sustain business growth. According to Rushabh Mehta, director of GoGreen Diamonds, buyers have become more accepting of LGDs since coming out of the pandemic as evidenced by rapidly increasing sales, especially for certain product categories. “We have observed a big difference in acceptance of LGDs post-pandemic,” remarked Mehta. “The volume of LGDs sold has multiplied in both the wholesale and retail sectors. What we are seeing now, particularly in Asia, is growing demand for 1-carat stones in D, E and F colours and VS quality.” Solid market interest Mehta explained that the market has become more receptive to LGDs due in part to a “societal shift” towards a more conscious and environmental focus alongside LGD’s affordability. “Lower price points have transformed what was traditionally a luxury product that only a few can afford into something more accessible,” he added. Continuous consumer education, however, is needed to sustain market growth. Established in 2015, GoGreen Diamonds has made a name for itself in the LGD sector. Majority of its business is focused on the US market, but after the pandemic, demand in China and other Asian countries also started to pick up, shared Mehta. A vertically integrated company, GoGreen Diamonds is able to ensure the quality of every diamond it produces – from growing the rough to the sale and delivery of the finished product to jewellers, giving the manufacturer an “unparalleled level of traceability and quality control.” With a state-of-the-art manufacturing facility in Surat, India, the company is capable of handling large volumes of LGDs. Its inventory includes certified lab-grown diamonds graded by the Gemological Institute of America, the International Gemological Institute and HRD Antwerp. It produces over 10,000 LGDs a month, available in round and fancy shapes with 98 per cent of the stones being triple excellent in cut, symmetry and polish. LGDs in the future of jewellery The rapid rise in demand for LGDs will only strengthen overtime as the market matures, according to Mehta. He noted, “This is just the beginning. The potential for growth of and demand for LGDs are only going to increase. There is only a small percentage of consumers around the world who can purchase diamond-studded jewellery. We expect this to rise significantly as more people can afford to buy LGD jewellery.” GoGreen Diamonds sees dazzling future for lab-grown diamonds
RkJQdWJsaXNoZXIy NjAxOTU=