April 2022 | Lab Grown Magazine

April 2022 | The Lab Grown Diamond Resource Book 24 To advertise call (888) 832-1109 | April 2022 25 www.gemlogisusa.com cs@gemlogisusa.com 1-800-833-1090 *Not yetASSURE tested formountedStones naturaldiamonds.com/assure Call, Email or Visit for more Infomation $999.00 ONLY Natural Can you tell which is... or The Gemlogis BELIZE All–in–One Tester Can! Test Loose & Mounted Stones Gemlogis USA The new phase of INSTRUMENTATION GEMOLOGICAL Lab-Grown? JCK BOOTH # 55086 A s North American jewelry retailers already know, this year has seen a growing spike in engagement ring purchases. Relatively consistent to last year, the percentage-per-month bridal jewelry sales breakdown (beyond May at nine percent) fluctuates month-to-month between seven and eight percent, with December commanding a sixteen percent average. What is inconsistent is the focus on a natural diamond, or in some regions, a diamond at all. Sixty-seven percent of engagement rings are purchased in-store, according to The Knot Worldwide 2021 Bridal Study . “Screen shopping” for bridal jewelry remains the highest pre-sale form of research by couples, and those bridal partners-to- be remain mostly together during the entire shopping process. On average, proposers/couples visited up to three retail locations looking at ten different ring designs before their sales conversations turned into sales conversions. NUMBERS TRENDING NORTH Nearly one-in-four engagement rings sold in 2021 featured a lab-grown diamond, up eleven percent in the past two years. This, for many, demonstrates a consumer trend of spending less money on the stone and more time thinking about their diamond point-of-origin and related sustainability issues. An eye-opening note: The ‘eco-conscious’ North American bridal consumer mindset is “rising among couples with thirty-four percent finding it increasingly less important that their engagement ring/stone be a natural diamond.” Last year, Gen Z found a mined diamond to be less important than Millennials (thirty-five percent) and Gen X (forty- one percent). This data was comprised from the same aforementioned report. eBay continues to sell pre-owned and new LGD engagement rings at higher than expected prices. A non-designer, 2.17-carat K SI1 grown stone set in 18-karat white gold is selling at $3,250.00 US with 9,973 watchers at press time (tinyurl.com/LDGebay ) and a non-branded, 3-carat LGD solitaire, G SI1, set in 14-karart white gold is currently discounted to $7,999.35 ( tinyurl.com/LGDebay2 ) from the same supplier who sold nine similar LGD rings at over $9,000.00 US recently. STYLE COUNCIL What engagement ring styles are turning heads and sales? We asked several of today’s leading bridal and fashion jewelry experts. This is what they revealed… “Sapphires, mostly in blue are trending over traditional white diamond center engagement rings in younger, metro-areas of the country. My clients aren’t thinking ‘man-made’ when it comes to colored gemstones right now, but with white lab diamonds on the rise, that mindset could easily shift to any precious gemstone,” said Leslie Woo, a Neiman Marcus private jewelry concierge. “Toi et moi engagement designs are leading any traditional design in the states,” noted Liam Esherman of Luxury Society, who called out a “sales spike” in 18-karat over 14-karat, and platinum over white gold settings specific to New York, Connecticut, Dallas and Los Angeles buyers with “custom creations leading the way across the board.” This story features eye candy images over additional stone stats, but get ready for the latest numbers next month. In May, we’ll gain first-hand knowledge to the ‘Next Gen Consumer’ (aged 20-35) and LGDs as spearheaded by Liz Chatelain of MVI Marketing (The MVEye). Their latest in-depth US consumer LGD 2022 study will be the focus of our next issue. ◊ Breaking tradition, a ‘horizon’ emerald-cut LGD ring set in platinum by Aether (left) and Jenny Packham’s yellow LGD engagement ring in 18-karat. Photos: aether.com and Helzberg.com LGD vintage-inspired ring sales may stem from online natural diamond vintage auctions, as seen with Bond Diamond’s marquee and flanking emerald-cut LGDs in 18-karat white gold (left), Stephano Vetrio’s ‘vintage- cut’ 3.4 carat LGD encircled by LG blue sapphires and LGD pave in 18-karat gold (center) and a two-tone, cultured peal and LGD set in a platinum exterior and 18-karat gold interior from Bespoke Post. Reminiscent of Art Nouveau-era, Taylor and Hart offers a chevron pavé band with a teardrop LGD in 14-karat white gold (left), VRAI’s trilliant-cut LGD cross-over ring in 18-karat gold (center) and Lucy McRae’s ‘sculptured’ heart-shaped LGD and flanking stones set in platinum. Photos provided by respective designers. Lark & Berry open petal ring offering “100% carbon neutral” LGDs in 14-karat gold (left) and Erbert Chong’s toi et moi ‘two souls’ LGD ring with platinum prongs set in 18-karat gold. Photos: Lark&Berry and Erbert Chong, respectively. Dan Scott is founder and brand architect with Luxe Licensing, a New York/metro marketing and production agency with past and current clients including Dior, Gucci, Harry Winston and many up- and-coming jewelry brands. Dan is testing the concept of a Mined and Man-made Diamond Alliance non-profit group (www.MMDA. world) and may be reached through www.LuxeLicensing.com , dans@luxelicensing.com or 201.294.3697.