At the recent Las Vegas Show, the CEO of De Beers announced a strategic shift; the company will now focus on producing lab-grown diamonds for industrial purposes while concentrating its marketing efforts for jewellery on natural, mined diamonds.
After six years of experimenting with Lightbox lab-grown diamond (LGD) jewellery, De Beers has determined that the economics of LGDs for jewellery are not favourable. The company has made a clear distinction between lab-grown and natural diamonds in the jewellery market and is now embracing new opportunities for LGDs in advanced technology and industrial applications.
CEO, Cook stated, “As the value of lab-grown diamonds continues to fall, their focus increasingly shifts to lower priced fashion jewellery rather than the meaningful pieces people buy to celebrate the key moments in life. We believe the value of lab-grown diamonds lies in technology rather than in jewellery.
We see the main long- term opportunities for synthetic diamonds, as they are known in the tech space, being in a range of exciting technology applications due to the extreme physical properties that make them ideal for use in high value applications like 6G technology, semiconductors and quantum computing,”
Although we do not sell or purchase lab-grown Diamonds at Hatton Jewels, as London’s leading jewellery buyers, registered members of the Academy of Experts and Institute of Registered Valuers (IRV), we must ensure we keep up to date with current market conditions continuously.
Should you wish to sell, purchase of create fine jewellery with us, please get in touch with one of our team today at info@hattonjewels.com
