September 2023 | Lab Grown Magazine

September 2023 | The Lab Grown Diamond Resource Book 12 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | September 2023 13 36 WEST 44th STREET, SUITE #1103, NEW YORK, NY 10036 Tel.: 212 768 3200 Ext 108. Toll Free: 800-622-WAVE(9283) Ext 108 Fax: 212 768 3322 Email: info@gemwave.com / harshil@gemwave.com Celebrating 28 Years In Business 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 Features Writer Dan Scott Graphics / Production Kim Kennelly LabGrownAds@gmail.com Advertising & Sales LabGrownMagazine@gmail.com Circulation 24,000 Magazines Printed &Mailed Monthly Distributed at Show Bins PO Box 683 Pomona, NY 10970 T: 888-832-1109 F: 212-257-7056 www.LabGrownMagazine.com Find us on A division of Zev Marketing Share Vs. Sharing the Market As we ramp up to the holiday buying season, lab-grown diamonds (LGD) continue to be featured in the headlines of major publications. In a recent Forbes feature, Pamela Danziger shines a spotlight on diamond market share data from diamond analyst, Edahn Golan. Projecting a dramatic LGD spike to supersede fifty percent of total diamond sales, this editorial is one example of media excitement over Golan’s latest figures. Realizing the LGD consumer learning curve is fast becoming a straight line to sales, it’s understandable to see some starter LGD brands puffing out their chest while commanding market share. As young or unbranded LGD bridal and fashion collections move to market, retailers in case space isn’t expanding. Diamond dealers are remerchandising their featured presentations making man-made diamond compete with mined stones more than ever. Yet, commanding market share over natural stones also means more competition within the LGD community. Most LGD growers are banking on expanded retail memo programs and beating the lowest cost per carat as regions become “over diamonded.” History proves that too much of a good thing doesn’t lead to more good things. Consumers are most drawn to desirable items that aren’t readily available. As stores add more LGD product into their merchandising mix, those same stores are competing with like product in price wars. Dominating market share is open to debate as Dan Scott notes within Carbon , our exclusive editorial feature included in this issue. Sharing the market with natural vs increasing market share over natural is vital. The more we push out natural diamonds, the more LGDs compete with themselves. This leads to consumer shopping comparisons of who’s selling the largest grown diamond at the lowest price, as opposed to reviewing an equilibrium of mined and man-made diamonds at any location. The NDC is spending a lot of money securing celebrities and red- carpet press featuring “Only Natural Diamonds.” While doing so, they are promoting global diamond desire and demand, a necessary element to selling any diamond - natural or grown. Some independent retailers refuse to sell LGDs. Others are visually merchandising grown over natural. Our suggestion is for jewelry retailers to be more even-minded in their commerce conclusions giving natural diamonds their fair share, which will only help diamond sales in totality. To Unity,