August 2021 | Lab Grown Magazine

August 2021 | The Lab Grown Diamond Resource Book 24 To advertise call (888) 832-1109 | August 2021 25 Image: LuxeLicensing.com “Those that don’t study history are bound to repeat it,” says an old quote from the Irish statesman, Edmund Burke. Those words still ring true when applied to the continuous diamonds vs. diamonds war. The same phrase applies to Pandora’s exclusive move into their own branded LGDs under their Brilliance namesake. Before we call “check mate” to Pandora’s artfully strategic corporate chess game, we should learn from another industry that has been struggling with a natural vs. man-made issue. The industry: Fashion . The problem: Fur . Supermodels Stripping Down People working in the fashion industry admit they got a little too comfortable for a while. This was especially true when relying on something seemingly evergreen. Something expected, routine, well-known, and, frankly, seemingly adored world- wide. Something like fur. Throughout the ages, a woman wearing a mink coat aligned with status, wealth, and fashionable extravagance. Natural fur adorned millions of bodies—fur was a fashion must. Until it wasn’t. In the early 1990s, supermodels across the country disrobed and proclaimed they’d “rather go naked” than wear animal fur.Those images became a hard-hitting anti-fur campaign, and it ran everywhere. Led by dedicated activists at People for the Ethical Treatment of Animals (PETA), supermodels shackled themselves to natural fur coat racks at Saks Fifth Avenue and converted legions of celebrities into publicly outraged and cruelty-deploring ambassadors. Sustainability is the New Black Despite all the attacks, natural fur didn’t die. During that time, consumers could see and feel the difference between natural and synthetic fur. When push came to shove, natural won by and large. But fake fur got better with time. Higher in quality and lower in price. Over two decades later, Saks refuses to sell natural fur. So does Neiman Marcus, Nordstrom, Bloomingdales, and Macy’s. California banned it. Laura Brown, InStyle’s editor-in-chief, refuses to photograph fur, a policy she proclaimed upon her hiring years ago. In rapid fire announcements, Gucci, Versace, Jimmy Choo, Tom Ford, and nearly every major fashion designer rejected natural fur. Some went to shearling while others deployed a finer, more natural look and feel via man-made. The best fur replicas today fool even the most discerning of fashionistas. Today, the talk among C-Suite executives is about sustainability and its messaging. Reducing or eliminating a corporation’s carbon footprint is now top-of-mind for Fortune 500s to Capricorn companies. Many a mission statement has been adjusted; “eco-friendly”has become an “eco-must.” Fashion followed suit.But a curve ball hit hard— faux fur started to receive bad press in global news. Called “permanently polluting,” and “poison to the earth,” the man-made pile material was quietly disclosed as non-biodegradable in 2017. “You can’t burn it and you can’t bury it, so we won’t sell it,” said a fashion buyer from Neiman Marcus, one of the first retailers to ban natural fur and one that won’t sell synthetic fiber fur until it proves itself “earth friendly.” Man-made fur is worse than plastic bottles; it won’t break down and all synthetic furs have tiny fibers which coil together, and then separate from the landfill garments.That adds to the world’s top pollution problem— plastic . Fur and Diamonds: Some Comparisons After thirty years, PETA dropped its anti-fur campaign last year.The reason? A two-word reply from a PETA spokesperson: “It worked.” Really? Big fashion houses are now strongly considering a return to natural fur. One key reason: It biodegrades fast and supposedly leaves a small- to-zero carbon footprint. On the eco-friendly fashion spectrum, questions such as what about the furred animals that die naturally? And, what’s wrong with recycled natural fur? The questions are valid. The answers, not so much; they have provoked years of raging discontent. The fashion world waits for a proven process identifying how fur was sourced via blockchain, while a new man- made fur claims to be far less damaging to Earth. The years of debate have left designers racked with confusion as major retailers continue to reject natural fur, and discarded man-made fur has been labeled “hazardous plastic waste.” After years of heated debates, the issue remains unresolved. One thing the fashion world does agree on is that the fur battle has hurt the entire production chain with weak sales and bad PR causing consumers to question other issues with the sector, such as fast fashion. Today’s jewelry industry isn’t focused on fakes, but the battle between mined and man-made continues. Some think Pandora just added to the complication, while others are taking notes. Pandora’s Masterful Marketing Some analysts think Pandora turned to LGDs since their customers can’t afford natural diamond jewelry, yet they desire diamonds. Some note that 99% of Pandora’s “gem” product is already man-made, so why not bring it to 100%? Still others see an emotional ethics play, especially noting how Pandora promoted its diamond transition to the media. Regardless, profitability at Pandora is climbing. Weaved into the Pandora story is a wealth of information and strategy. The diamond industry should consider analyzing what Pandora is doing rather than criticizing the process. Look closely at Pandora’s messaging of man- made stones. The Brilliance line isn’t touting low- cost diamond jewelry. Yes, their SRPs are low, but that’s not their marque.They don’t want to “cheapen” diamonds; they seek just the opposite. “It’s very easy to fall into the trap of: ‘I’m a cheap wannabe.’ We don’t want to denigrate the value the industry has built up around diamonds—the whole flair around diamonds.We definitely want to keep that,” Pandora’s CEO Aleander Lacik told Bloomberg . Pandora could have upset the bridal market by announcing entry-level, certified diamond engage- ment rings. They did not and will not market their solitaire diamond rings in the bridal space. To stay in-stepwith fashion,theyhireda celebrated dynamic duo to serve as their creative leaders. Fran- cesco Terzo and Filippo Ficarelli are well-known and at home with the fashion industry’s most elite. They create for teenage customers up to self-pur- chasers in their 20s, 30s and above. The duo styled a solitaire ring to not “say bridal,” and offered elevation to the classic solitaire dia- mond pendant and earrings by designing a “rein- vented” infinity symbol.The symbol is special since it carries a positive, personal message while subtly giving a visual nod to “diamonds are forever.” All the Right Faces Pandora knew two young, dashing male creative directors would play well to their young female base, which is why all their photo shoots resemble a pull-out from TigerBeat Magazine. Pandora also knew they had to be relatable to young females, so their agency flooded the company In 2018, WWD reported the fur battle continues with the news of protestors storming a Michael Kors conversation with Alina Cho at the Met, complete with “F Fur” banners and chants. Shortly thereafter, Kors announced he would eliminate fur. (Photo: WWD)