INSIGHT 睿智角度 66 | JNA September/October 2023 Sustained demand for lab-grown diamonds in the major jewellery markets of Asia and the US is fuelling dazzling business opportunities in the LGD trade. 亚洲和美国等主要珠宝市场，对实验室培育钻石持续呈现需求，因而创造庞大商机。 Market expansion bolsters GOGREEN DIAMONDS’ business GoGreen Diamonds 借扩展市场推动业务 | Bernardette Sto. Domingo 杜明高 | GoGreen Diamonds is seeing stronger demand for a broader range of lab-grown diamonds (LGD), fuelled by heightened awareness of and appreciation for LGDs. This affinity for innovative and unconventional products like lab-grown diamonds is most prevalent in leading jewellery markets such as the US and Asia, according to the India-based lab-grown diamond manufacturer and exporter. Glowing opportunities Buyers are increasingly favouring larger-sized labgrown diamonds that look as glamourous as their natural counterparts but do not cost as much, revealed Rushabh Mehta, director of GoGreen Diamonds. Demand for lab-grown diamond carats soared exponentially in the post-pandemic era, explained Mehta. “This has notably impacted GoGreen Diamonds’ business strategy, prompting adjustments to accommodate this rising demand for bigger LGDs while capitalising on their ethical and cost-effective appeal,” he added. The US market is partial to larger, commercially oriented LGDs while Asian consumers are more inclined to purchase smaller, high-quality lab-grown diamonds. And GoGreen Diamonds is counting on Asia’s glittering potential for LGDs, according to Mehta. The company adapts to emerging demand and meets the market’s diversified needs, testifying to its business flexibility and ability to align its product strategy with Asia’s preference for understated elegance. This, in turn, is fostering its positive performance in the region. At the heart of GoGreen Diamonds’ success is its topof-the-line production capabilities, which set it apart from the competition. In fact, the company was recognised by the Gem & Jewellery Export Promotion Council for achieving the highest lab-grown diamond exports in the fiscal year 2021 to 2022. Mehta noted, “Our forte lies in crafting exquisite fancy pink and blue lab-grown diamonds, which have gained immense traction in the Asian market. This recognition underscores our commitment to innovation and quality, enabling us to thrive in the industry.”
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