October 2024 | Lab Grown Magazine

October 2024 | The Lab Grown Diamond Resource Book 22 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | October 2024 23 Dan Scott, Scott Kay’s former CMO of 10 years now runs Luxe Licensing, an 11-year old NYC-metro marketing, video production and licensing agency. He recently was awarded a Cambridge University honorary partnership, META multistream partnership, and is now an Oxford Press Board Member. Dan Scott welcomes conversation and may be reached through WhatsApp at +1 201 294 3697 , dans@luxelicensing. com, LuxeLicensing.com or on Instagram @a_brand_architect Unnatural ESG Findings Trusted as a highly scientific and non-bias publica- tion, Nature opted to approve every chart in the May report (a link to download the entire paper with ref- erences for LabGrown Magazine readers is within the caption text of the bar graph) either favored LGD’s sustainability by often misrepresenting their own evaluation process and/or offering incomplete and thus inaccurate information on natural dia- monds. In this chart published by Nature, cites a to c show the ledged comparative results of the global average environmental impacts of mining one ton of rough diamonds and one ton of other metals. Note: References date back to 2008. By avoiding positive major mining operational ad- vancements towards reducing emissions and issuing questionable determinations on LGD sustainability, it appears Nature Magazine also avoided getting press from any jewelry or diamond industry publi- cation. It’s shocking that Nature would endorse and not re- tract any of the statements since their May 2024 pub- lication date. They have opened access (for now) but are not promoting such. Odd. When I reached out to the head writer in China, I never heard back from him or the editor-in-chief from Nature. Also odd. October: Mission Critical Month for Jewelry Re- tailers This month ushers in two of the largest cash and car- ry trade shows in North America. Beyond the ability to populate your store with the right bridal and fash- ion diamond jewelry assortment that’s right for your store, be it natural or LGD, key issues of the day will be at hand if you’re attending or exhibiting at JIS Fall from October 6-9 at the Miami Convention Center, Miami, Florida and JA NY, October 27-29 at Javits Center, New York. Both shows are impor- tant affiliate partners of this magazine and Diamond Pulse. You’ll find printed copies of our magazines at both shows and I’ve noticed attendees paging through these offerings while at the show – a form of bonus pictorial review/ of who is exhibiting from a natural and LGD perspective, as each magazine is exclusive to its respective category. Jewelry Retailers Future In Zev Oster’s Publisher Letter in this issue, Zev ad- dresses the timing significance and benefits of these shows and also offers a strong suggestion billed as the “Absorption Attendee.” While Zev outlined this definition, in a nutshell, this title would go to an ex- tra staff member to accompany you on your JIS Fall and/or JA NY experience. Of course cash and carry shows of this level of orga- nization and systemically hosted in prime locations and within a month perfectly suited to suit up your holiday inventory. Consider one more ticket. By flying one additional person out to these shows, you’re ensuring that there will be no wait for passersby that didn’t book an ap- pointment. You’re also guaranteeing that the free educational programs these events provide are not missed. Think of the think tank you’ll host in a group dinner when one of your members brings wealth of knowledge otherwise missed during set-up. A Factual Close and Quote The lab grown diamonds market was valued at $24.0 billion in 2022, and is estimated to reach $59.2 bil- lion by 2032, growing at a CAGR of 9.6% from 2023 to 2032. The demand for increasing consumer awareness about the ethical and environmental is- sues primarily drives lab-grown diamonds related to natural diamonds, as well as technological advance- ments that have reduced the cost of production. “The idea that consumers in different countries are so different has collapsed. There is now a global consumer. The information about jewelry and luxury is now global. At the premium end of the market, the consumer has access to all information, and they travel around the world. That idea of a different ap- proach or radically different tastes doesn’t exist any more,” Stellene Volandes, Editor in Chief, Town & Country Magazine. ◊ global g one her , and ns), and ge egory vely. In May of this year, Nature Magazine issued a peer reviewed ESG global diamond study with 100% of the three authors’ findings praising LGD and mudslinging to natural. In this chart, part of their extensive study, they refer- ence items a to c displaying their comparative results of the global average environmental impacts of mining one ton of rough diamonds and one ton of other metals. It must be noted these references date back to 2008. LGM readers free access to the entire report: https://rdcu.be/dUSlq Chart: Nature magazine Subscribe for free and receive an organized way to find and compare all things natural and lab in the sister publications LabGrown Magazine (LGM) and Diamond Pulse. LGM knows the majority of our reader base is US-based with Canadian independent retailers, so our feature stories are skewed to your interests. Find us at labgrownmagazine.com and diamondpulse.com. Chart: David Oster, LGM