January 2024 | Lab Grown Magazine

January 2024 | The Lab Grown Diamond Resource Book 26 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | January 2024 27 Dan Scott is a Brand Architect with New York/metro-based Luxe Licensing, a marketing, video production and licensing agency catering to bespoke clients including Dior, Gucci, Harry Winston, and introducing demi-fine, natural and man-made diamond designs. Dan may be reached by texting + 1 201 294 3697, emailing dans@luxelicensing.com or visiting www.LuxeLicensing.com Dan Scott also operates a non-profit organizatoin: The Mined and Man-made Diamond Alliance (MMDA.world), the only unbiased mined and man- made diamond global group supporting both sides of the diamond and gemstone sector, to build unity, provide research and bridge the diamond divide. MMDA.world hopes to work closely with the Natural Diamond Council (NDC) and the The International Grown Diamond Association (IGDA) Think about the retail cost of flat screen televisions… Once priced in the thousands, an at home movie-theatre-like experience can be yours for a few hundred dollars today. Some point to retailers wanting to pivot out of LGDs due to price drops, yet one must compare the margin differential between natural and LGDs. According to analyst Edhan Golan in the recent Diamond Dilemma podcast, he noted the gross margin for LGDs in September 2023 was 64% while natural was 32-33%. ( www.tinyurl.com/DiamondDilemma2 ) LGDs still command a tempting profitability for jewelry retailers. And, the luxury market is slowly embracing LGDs. Beyond select watch brands, LVMH’s A portion of Paul Zimnisky’s pricing grid for laboratory-grown vs. natural diamonds ranging from 0.5 to 1.5 carats from 2016 to 2023. Note the repeated unapproved use of “man-made” published by the NDC and on Zimnisky’s site. Graphic: Paul Zimnisky FRED has debuted a blue LGD diamond collection – others will follow. A Bright 2024 LGDs will outsell natural diamonds in our lifetime. The opportunity, as Rob Bates and a Diamond Dilemma panel concurred, for LGDs to reinvent themselves is now. The global fashion/accessories market is ripe for LGDs. We’ll see this penetration with handbags, belts, shoes, and more. LGDs are not married to bridal, nor should they be. Watch for iconic luxury brands to gently test the LGD market, and watch thrifty consumers continue to lean towards LGDs when offered as a buying option - not a seller’s preference. ◆