October 2020 - Lab Grown Magazine

October 2020 | The Lab Grown Diamond Resource Book 12 To advertise call (888) 832-1109 | October 2020 13 Seeing stars. The industry vision is often scattered when now is a time for an unobstructed view. (Graphic: Luxe Licensing, LLC) The overdue collective conversation on man-made and mined diamonds continues. Part Two of a Three-Part Series A ctionableWords In Part One of this three-part series, the titlewas TheGreatDiamondDebate. Since the initial release,I’ve received calls ques- tioning the wording of the former title. Some were confused with the previous headline suggesting that I was forcing “fighting words” to incite “dueling diamonds.”My intent then, as it firmly remains now, focuses on assisting a non-bias, necessary unity between LGDs and their natural counterparts. Since I’m constantly conversing with global diamond producers, labs, jewelry design- ers, industry organizations and salespeople, I have the opportunity to interview a range of leading professionals. While some discus- sions remain off-the-record, many make it to print. Yet, these man-made and mined dia- mond executives all agree on one thing: the importance of clear, consistent communica- tion. Thus, in the spirit of good communica- tion, this article, as well as the third part that follows in the next issue, offers a more unified series title: The Global Diamond Forum. Regardless of the wording, there is a need for talk. Together, we can assemble the ulti- mate industry roundtable and the most pow- erful force the jewelry, accessories and fashion world has ever seen. Think about the united global intensity and potency of the most cel- ebrated, but presently disconnected, diamond sides. And then, connect them. Unstoppable. Communication Crisis As we continue to close the Covid-19 cri- sis, no matter how much marketing is top- of-mind, we are in a diamond communica- tion catastrophe. Luckily, the vaccine for this industry-created communications gap is as simple as refined and defined discussions— talks that focus on specific hard-hitting open issues and how to solve them. We’ve tried it alone and it’s ugly.Together,we offer magnifi- By Dan Scott cent, highly desirable eye candy supported by a never-give-up attitude. Imagine a town hall style environment where the leaders from the natural diamond sector sit down with the leaders of lab-grown. Each side comes with an agenda approved in advance. Each agrees to monitored response time and the entire industry is invited to at- tend live. Audience questions would be se- lected in advance with respect to the speakers. An expertly hosted and monitored live chat would provide peer-to-peer instant integra- tion. Where could such a global diamond event take place? Online. Promotedmonths in advance,this conversa- tional, anti-debate stage is the ideal posturing to keep diamond communications on track. Moving readers to watchers and watchers to participants, this live VOD business-to-busi- ness “webinar” is currently being discussed. The Opposite of Love “A worldwide online meeting of the minds; it will never happen,” exclaimed an executive who didn’t want to be named, “but if it does, we’ll be the lead sponsor.” We moved from “never” to “title sponsorship” in one sentence. The Summer warmed up diamond sales, showing that diamonds are still in demand, no matter where they originate. (Photo: Earth’s Treasury) Jewelry designer, acclaimed diamond artist and blogger, Reena Ahluwalia holds ‘The Lesotho Legend,’ a Type IIa, D-color, 910-carat stone, the fifth-largest gem diamond in history. In 2018, the diamond sold for $40 million. It is from the Letseng mine in Lesotho. (Photo: ©Reena Ahluwalia Design Inc.) It will happen. It must happen. If it doesn’t, how much longer can natural and LG pre- tend to be in love? There are serious bones of contention. There are serious egos. There is serious money at stake—money to make or money to lose. Let the hate fly. We’ll catch it, tame it and then realize the opposite of love is not hate. Hate is an emotion manifested from and within love, desperately trying to solve com- plicated interpersonal issues to regain and re- tain love.The opposite of love is indifference. Don’t stop caring, not even for a minute. Home, James The automotive industry got it right. They have been in bed with petroleum miners and refiners for decades and to the tune of trillions of dollars.Trillions.Note the natural diamond comparison…Cars need gas and oil, and we want and “need” cars. Shiny great-looking automobiles to see and be seen in. Interruption. Suddenly, electric cars are the must-own future of personal transportation. It should be a blood bath right now between Marathon Petroleum Corporation or Exxon Mobil and the new name in town:Tesla.Only seven years ago, Exxon was the largest com- pany in the world. Its market cap was about $415 billion. Today it is half that, while Elon Musk’s company has a market cap that sur- passes Exxon. Tesla’s share price has gained 3,200%. How are there not poison arrows constantly grazing automotive headlines each week? Have you read even one? Here’s their secret… Oil and gas refiners live harmoniously with electric cars, and not because they “have to.”The oil and gas com- panies know there won’t be a cosmic shift in our lifetimes where every person is driving, or being autonomously driven, in an electric car. Some cars are hybrids. People drive both.The key word is both . Wall Street is seeing a new trend where op- posites are equal. Musk knew Tesla’s success banked on much more than a “greener” ride. Tesla’s fuel is the human need for advance- ment, innovation and the magic of “new.” No mudslinging, no rants, just fast global success. Some may cite the call out of a “diamond communication crisis” to be too dramatic. For those, get ready to take center stage. Two Simple Sentences Try this basic diamond test for yourself. What is the legal “industry definition” of an LGD and that of a natural diamond? Two different items (we’ll address “different” later in the story) and two different simple, defin- ing sentences. One for lab-grown and one for mined diamonds. Think you can you write them? It should be easy, yet as an industry, we’ve made it hard. Now, ask a trusted industry pal to do the same. Comparing the two, you’ll see they won’t be the same. Similar doesn’t cut it and using words like “identical” in the definition raises an immediate red flag. Now, imagine one hundred producers writ- ing the same definitions, or one hundred thousand. If we can’t get two simple sentences straight, how can we shepherd in a unified, worldwide message?We need to talk and take unified action. Once we do, both sides will be able to see the white elephant in the room. The biggest, most critical element of this en- tire scenario is too often left invisible. ►