January 2021 | Lab Grown Magazine

January 2021 | The Lab Grown Diamond Resource Book 20 To advertise call (888) 832-1109 | January 2021 21 1. Emily Watson at the Vanity Fair Oscar Party in LGDs from Vrai & Oro. (Photo: Dia Dipasupil/Getty Images) 2. The ever-popular emerald-cut in a two-stone, LGD ring by Mined. (Photo: Saalow & Henebry Jewelers) 3. A pink lab-grown diamond pendant in the Lightbox pop-up store in New York City. (Photo: Sissi Cao) 4. Invented back in the 1500s, the rose-cut diamond is trending in 2021. (Photo: annasheffield.com) us already,” Kwong adds. Age-wise, his 30+ customers often prefer mined diamonds, while those who are 20 to 30 lean towards LGDs.This is also an indication that millen- nials do not necessarily hold the same values when it comes to diamonds.The same holds true for their children. De Beers Is Forever In 2020, China produced 15.9 billion car- ats of LGDs. Berkshire Hathaway expects that China’s LGD output will exceed 17.0 billion carats in 2025. The China-based LGD leaders include Zhongnan Diamond, Zhengzhou Sino-Crystal Diamond Compa- ny, Huangne Whirlwind, Jinqu, CR Gems, and SF Diamond. Other major diamond producers are based in Seoul (ILJIN Diamond) and Singapore (IIa Technologies). In the U.S., three LGD-focused companies made the leading worldwide list: New Jersey- based Advanced Diamond Technologies and Sandvik Hyperion, along with Washington- based BetterThanDiamond. De Beer’s Element Six leads the entire pack with its headquarters and main manufactur- ing in Britain, with operations in Ireland, Germany, South Africa, and the U.S. According to Rapaport , “De Beers hosts ten sights a year at its sales headquarters in Ga- borone, Botswana. However, travel restric- tions forced it to cancel its third sight, which began in late March. De Beers rough sales fell 56% year-on-year to $1 billion for the pe- riod; most of that revenue came from the first two sights of the year before the pandemic. The average price declined 21% to $119 per carat, while the company’s average rough price index fell 8%. De Beers total revenue dropped 54% to $1.22 billion, including sales from Element Six and other divisions such as grading and research.Through this, De Beers maintained its global market share domi- nance and continues to steer the natural and man-made diamond markets. 1 2 3 4 >>