September 2023 | Lab Grown Magazine

September 2023 | The Lab Grown Diamond Resource Book 22 Mailed to 24,000 Jewelers Monthly - To advertise call (888) 832-1109 | September 2023 23 well… in Birks walk-in stores, a partnership with Saks.com, and the brand’s e-commerce site. More Man-made Stones, More Sales? Returning to Golan’s projections, he goes beyond forecasting an over fifty percent market share in loose LGDs over natural. He pinpoints the abundance of finished goods unit sales via LGD engagement rings. “Just because a lab-grown diamond was sold does not necessarily mean that a natural diamond was not sold - this is not always a zero sum game.” Zimnisky also points out that fashion jewelry company Pandora will be one of the world’s most prominent sellers of LGDs, however historically the company has not been a diamond retailer. While most luxury department stores have added LGDs to their offerings, they focus on fashion, not bridal. This includes Saks, Nieman Marcus and Bloomingdales. In fact, the only LGD brand Bloomingdales offers is Lightbox. Regardless of Lightbox’s latest LGD engagement ring push, the cornerstone luxe retailer is sticking to classic, colored LGD fashion assortments. Factor out some significant independent stores, like London Jewelers. They refuse to sell any LGD items. Perhaps Golan’s 50/50 assessment leans on digital LGD engagement ring sales such as Blue Nile and JamesAllen.com. One thing is for sure – the LGD sales he’s quoting aren’t coming from the heaviest of hitters. A Lack of LGD Big Brands The largest “jewelry” company on the planet is LVMH. Exceeding $83 billion in revenue, LVMH isn’t all jewelry. Yet, LVMH owns several of the world’s most coveted jewelry and watch brands such as Bulgari, Chaumet, Fred, Hublot and Tiffany and Co. Their luxe fashion brands offer a bevy of high jewelry and diamond watches including Louis Vuitton, Dior and Fendi. Even their demi-luxe brand, Marc Jacobs, offers crystal-set jewelry, but zero LGD designs. With a minor exception of TAG Heuer watches (and an extremely limited LGD selection and lack of promotion towards such) LVMH has no current plans to associate with LGDs. To turn rumors to reality, LVMH will not be acquiring Richemont Group, nor their prized brand, Cartier, which also has no plans to include LGDs. Paul Zimnisky projected market growth for LGDs (loose and set) based on a $500+ North American retail pricing grid, including engagement rings, projected to exceed $4 billion by 2025 and surpass $5 billion by 2030. This chart was released in 2021. ©2021-2023 Paul Zimnisky All Rights Reserved. More info: https://PaulZimnisky.com France has been slow to the LGD race but artists there are picking-up the pace with young brands like Vever (shown here). Couture fashion always stemmed from Paris moving to the US. LGD designs from French luxe and demi-luxe designers are welcomed, yet the LGD industry has yet to gain a kingpin luxury brand (from any part of the world) to uplift starter brands and a sea of generic goods presently at market worldwide. Photo & More Info: Vever.com Rajesh Exports ranks second in volume as an Indian multinational jewelry retailer headquartered in Bangalore, Karnataka. With annual revenue of over $32 billion, Rajesh’s mega jewelry infrastructure verticals are SHUBH Jewelers, REL, and many online shops. All focus on gold but not a single LGD design has been produced to date. Third in the top three largest jewelry companies is Chanel. Known for couture hand-woven wearables, much of Chanel’s $7.9 billion annual revenue is attributed to high jewelry sales including the latest 1932 and No 5 Collections. Chanel vows to never set man-made diamonds. Keep in mind we haven’t touched on brands like Harry Winston, Chopard or Graff - none of which have any intentions to touch LGDs. Great Abundance: Lack of Interest In the history of retail consumer consumption, the easier something is to acquire, the less desirable it becomes. The consumer buying brain is drawn to things that are