April 2024 | Lab Grown Magazine

April 2024 | The Lab Grown Diamond Resource Book 26 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | April 2024 27 Dan Scott is founder and brand architect with New York/metro-based Luxe Licensing, marketing, produc- tion and licensing agency catering to bespoke and select demi-fine jewelry brands. Dan welcomes con- versation and may be reached by texting + 1 201 294 3697, through WhatsApp, or by emailing dans@luxelicensing.com miniatures that were important to the buyer. Some collected designer handbags, had a closet full of top brand high heels or loving playing or listening to the violin. LGD key chains in 14k gold were produced as a private label item for the store. Now they were selling items Jared, Kay’s, Zale’s, or any typical online LGD store wasn’t. This while catering to the desires of their shopper and keeping that newly purchased product connected to one of the most important things we all own: house and car keys. The LGD personalized miniature item key chains are such a hit; they plan on producing a full collection. Your local store is more agile than national jewelry chains. You can move faster and profit from private label much easier than the red tape and time delays of large corporations. This east coast suburban retailer seemingly at the end of their rope began to focus on LGD merchandise their best shoppers wanted. And, offering it, as a form of exclusive was so successful it opened the opportunity for a dynamic LGD only store. It’s set to debut right next to the store once ready to turn its lights off for good. FAQs 1] What is the expected CAGR of the Global LGD Market during the upcoming years? During the forecast period, the Global market is expected to grow at a CAGR of 9.4 percent. 2] Why was 2022 an important growth year for LGDs? The LGD market size in 2022 was $23.6 billion. Purchasing a 5,000 square foot lot next to their historic store takes a page out of European-style jewelry shopping with open space walkways, café style seating and eye-grabbing ways to showcase their LGD designs sans the expected vertical showcase spaces found at the majority of jewelry stores everywhere. Photos: James Monroe 3] What is the expected LGD market in the immediate future? $44.26 billion is the expected market size by 2029. 4] What are the major LGD segments? The market is divided by nature, manufacturing method (largely CVD) size, type, application and distribution channel (s) 5] Which LGD region is expected to increase at a high rate soon? The market share inAsia Pacific is expected to increase at a high rate in the next few years. 6] Which country is the largest producer of LGDs? China is the largest current producer of lab grown diamonds. India, Israel and the US are each looking to bring that statistic to their respect country with major financing already secured and starting to be implemented in some areas. 7) Which gem lab grades the most LGDs? IGI International presently grades the highest amount of LGDs but their diamond grading scale is too generous for many. Expect a lot mote attention from GIA specific to grading LGDs. This includes GIA offering inexpensive but effective tangible presentation methods aimed to better connect GIA with consumers, local retailers, trust and LGDs. Your chance to shine They are many more keys we will reveal in subsequent issues of this magazine. For now, we’ll close with frequently asked questions and your chance to tell your LGD success story. If you work for, or own, a local or small cluster of jewelry retail stores in North America, this is your chance to be interviewed and featured within this series. Send your brief success story with any associated high-res images that may help illustrate your editorial to Dan Scott at dannjscott@gmail.com . You may also text Dan at 201.294.3697. If your store is selected, you will be contacted for an interview and follow-up fact check before the story is seen by over 25,000 monthly subscribers. ◆