January 2020 - Lab Grown Magazine

January 2020 | LG | The Lab Grown Diamond Resource Book 8 Publisher Zev Oster Manager David Oster Advertising & Sales LabGrownMagazine@gmail.com Graphics LabGrownAds@gmail.com Circulation 25,000 Magazines Printed & Mailed Monthly Distributed at Show Bins 30 West 47th Street | Suite 707 New York, NY 10036 T: 888-832-1109 F: 212-257-7056 www.LabGrownMagazine.com DISCLAIMER: Lab Grown Magazine assumes no responsibility for content, articles, or advertisement in publication. All rights reserved. Reproduction in whole or in part in any form without prior written permission of the publisher is prohibited. The publisher reserves the right to edit all articles for clarity space and editorial sensitivities. Coming of Age For the last few years, lab-grown diamonds have dominated the news in the jewelry and gem industry. For some, LGDs were seen as a loom- ing threat that would destroy the diamond sector. While these fears seemed to be largely driven by a lack of understanding about lab-grown diamond, the question for many industry players was not whether LGDs would become mainstream, but when ? Today, these fears have largely subsided. Lab- grown diamonds have moved mainstream, and are taking their place among the vast array of prod- ucts that make up the jewelry universe. More and more manufacturers and jewelers are jumping onto the lab-grown bandwagon—not the least of which was De Beers when it made its surprising-or perhaps not so surprising- U-turn with the creation of its lab-grown sub- brand, Lightbox . This unexpected and disruptive force was a game changer that helped catapult LGDs to top of mind for jewelers and the public. With their arrival, LGDs are offering the con- sumer a 5th C: Choice . And, it is important that this choice be an informed decision, one based on full disclosure of the product. To this end, the Federal Trade Commission updated its Guides for the Jewelry, Precious Met- als, and Pewter Industries in 2018. The Jewelry Guides provide detailed information to market- ers concerning how to make non-deceptive claims about their products, including jewelry made with mined, laboratory-created, and simulated diamonds . The FTC also sent warning letters to a number of companies, citing examples from their ads that raise compliance concerns under the Jewelry Guides. In view of the increasing importance of LGDs in the industry, LABGROWNMAGAZINE has been created as a neutral entity, published once a month, to bring together opinions and activities of the various stakeholders in this arena. You are holding the launch issue, with articles by several contributors on their take on LGDs, including their history and how they are creat- ed. Future issues will include more detail about FTC’s guidelines and concerns as well as other timely topics as lab-grown diamonds come of age. Happy New Year! Zev Oster