May 2021 | Lab Grown Magazine

May 2021 | The Lab Grown Diamond Resource Book 12 To advertise call (888) 832-1109 | May 2021 13 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. Publisher Zev Oster Manager David Oster Editor Cynthia Unninayar Features Writer Dan Scott Graphics / Production Kim Kennelly LabGrownAds@gmail.com Advertising & Sales LabGrownMagazine@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 A division of As we all know, lab-grown diamonds have been a major disrupter in the diamond industry for the last few years. Some people saw them as a threat and wor- ried that they would destroy the mined diamond sector-a fear that seemed to be driven largely by a lack of understanding of LGDs-while others saw their arrival on the mainstream jewelry landscape as inevitable. Others even welcomed this addition to the choice consumers have when it comes to making informed diamond purchases. Today, lab-grown stones, both diamonds and colored gems, have indeed become mainstream and have their own role to play in the jewelry ecosystem. Since the inception of Lab Grown Magazine, more than a year ago, our feature articles have taken a neutral look at the evolution, manufacture, and acceptance of LGDs by industry experts, jewelers, manufacturers, and consumers. These articles also have taken-and will continue to take-a hard look at the relationship between mined and lab-grown stones and the necessity for proponents of both types to recognize the importance and longevity of the other. Does each type have a role to play? The answer seems to invariably be yes .This positive response has further been confirmed with the jump into lab grown by none other than De Beers, whose goal, it seems, is to firmly position the company at both ends of the diamond spectrum. LGDs also continue to make news and have been the focus of several recent webinars and other events/publica- tions. The recent De Beers Diamond Insight Flash Report #6 not only reported on the good holiday sales for mined diamond jewelry and the diamond investment "haven" by customers, but also on the role of natural diamonds ver- sus LGDs, according to U.S. consumers. Its biannual 360 Market Reach LGD tracker of 5000 respondents indicated that, while "affluent consumers were purchasing high-value natural diamond jewelry, they were becoming increasingly aware of LGD jewelry." It added that both affluent and non-affluent consumers (about 2/3 of fine-jewelry custom- ers) were open to LGDs, noting that lab-grown diamonds "occupy distinct territory in the jewelry repertoire..." We will discuss more of this report and its implications for the lab-grown sector in our next letter. In the mean- time, enjoy our lovely Spring weather. Zev Two Diamonds, Two Roles