May 2021 | Lab Grown Magazine

May 2021 | The Lab Grown Diamond Resource Book 24 To advertise call (888) 832-1109 | May 2021 25 in green, emerald green that is. While the more mature among us may associate greenwithmoney, today’s shoppers see green as eco-friendly, in tune with Nature, not banks. Sapphires and pearls have a current sea of posts and shares where likes and comments soar without diamond references. “Diamonds aren’t dead, they’re dated,” says an excerpt from an Instagram post showing colorful gemstone engagement rings. That post received over 39,000 likes. They Made Us Do It “I think we’re way past a colored gemstone engagement ring ‘trend,’”said the lead buyer from jewlr.com. “Even my title changed. I used to have ‘senior diamond buyer’ on my business card. Now it reads, ‘precious gemstone buyer.’ I still purchase plenty of diamonds, but we had to add a colored gemstone engagement ring section this year.They (our audience) made us do it.” U.S. jewelry retailers have noted requests for colored gemstones flanking a center white diamond and, in some cases, requests for birthstone centers. Some couples are taking a shine to emeralds and sapphires over white diamonds. A thirty-year jewelry sales veteran from a national jeweler who wished to remain anonymous asked this: “Except for Valentine’s, Mother’s Day, and the winter holidays, when do you see TV commercials for diamonds anymore?” You don’t. Then again, who’s watching TV these days when the Internet offers more on-demand live and pre-recorded options than Netflix ever will? Ms. Nameless’s point resonates regardless, because diamond advertising online is mostly occupied by Diamond Foundry (DF) after it raised a newly banked $200 million. The Santa Clara, California-based company manufactures and sells lab-grown diamonds through its Dubai office and with Vrai, a branded subsidiary. See You in Court After a strong lawsuit sanctioned by the Natural Diamond Council (NDC) through the Numbers don’t lie. The upward dramatic climb of mined dia- monds won’t level out anytime soon. Does this chart defend the use of “rare” specific to natural white diamonds? Are we wait- ing for the consumer to point out the falsehood of this world- wide message? (Graph: Diamond Foundry) Natural blue diamonds are highly desired and highly expensive. But, on ebay, today, lab- grown blue diamonds can be purchased for a fraction of the price of a mined blue diamond. (Image: ebay) A rough natural diamond recently extracted from the Earth made its way to the auction block via Sotheby’s. (Photo: Donald Bowers, Getty Images for Sotheby’s) >> Better Business Bureau’s National Advertising Division (NAD), a legal request was formally put forth to “modify certain online advertising claims to better communicate that its diamonds were grown in a lab,” reported JCK in April of this year. The suit recommends that DF and Vrai stop describing their products as “sustainably created,” “sustainably grown,” “diamonds created aboveground,” and “world positive,” because those terms, the NDC claims, “do not sufficiently communicate that the diamonds are laboratory- grown.” The NAD acknowledged that DF andVrai sites must follow FTC jewelry guidelines outlining clear diamond messaging for all LGD growers. Concerned by DF’s confusing slogan “Just diamond. No mining,” the NAD also cited the use of the word “real” displayed on DF’s online materials. The NAD warned DF that it should discon- tinue online claims that its LGDs are “real” diamonds or modify the claims to be clear that its LGDs arenotmined,natural diamonds.“Without context explaining that ‘real’diamonds are created in a laboratory and not mined, consumers may reasonably take away the unsupported message that Diamond Foundry’s diamonds are mined diamonds,” noted an NDA official on the matter. AMatter of Creation and Confusion One claim that won’t ever see a courtroom or the need for outside financial settlement was the NDC’s objection to the terminology, “Diamond Foundry-created diamonds.”That stopped at the NAD, which noted the wording was perfectly legal and not misleading based on current FTC guidelines.The federal law denotes any diamond producer/brand may use their corporate name to precede the phrase “created diamonds” by way of a hyphen. That’s interesting since young, aspiring LGD brands such as “Mine”would be legally permitted to promote and sell under the header of “Mine- created diamonds.” And what’s stopping an LGD manufacturer from calling themselves “Deep Earth” and using “Deep Earth-created diamonds.” No confusion whatsoever there. That’s a joke, except no one is laughing. And So, the Story Goes This isn’t the end of the story. It is only the beginning and hopefully not the beginning of the end. Remember, in this narrative, Dear Reader, you are an important author.That’s if you choose to be. Agreeing with this text is a start but speaking up and acting out are louder than words. Let’s hear your side. Join the conversation on www.facebook.com/labgrowndiamondmagazine. We’re unfiltered and fact-filled and look forward to conversing with you there. -------------------- Dan Scott is the founder and brand architect of Luxe Licensing, a New York/metro marketing firm with past and current clients including Gucci Jewelry, Harry Winston, Crevoshay and demi- fine TM brands. Dan holds the “demi-fine” trademark for jewelry/watches having created the term that is now searched in the tens of millions each day. Selected as New York City’s New School of Continued Education and Professional Development's latest digital marketing instructor, Dan enjoys brand and marketing discussions and welcomes conversation. He may be reached at dans@luxelicensing.com or via www.LuxeLicensing.com ■ Jewlr.com relies on engagement ring sales to stay in business. Now, the site has a new top tab for gemstone engagement rings, and white diamonds may become the minority. Image: Jewlr.com A variety of cut, polished, white LGDs by Ada Diamonds. Featured cuts: 2.60-ct pear, 2.01-ct Asscher, 2.23-ct cushion, 3.01-ct radiant, 2.11-ct emerald, 3.00-ct oval, and melee and smaller stones. (Photo: Sam Cannon, Earther)