Agenda-setting intelligence, analysis and advice for the global fashion community.
Five years ago, Meg Strachan thought she had a surefire start-up idea: take the lab-grown diamonds that were just starting to hit the market and give them the fashion treatment.
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This week, the gemstone giant said it would exit the fast-growing lab-grown diamond sector to focus on marketing the “unique attributes” of natural stones. Stakes are high after sales plummeted in 2023, and as owner Anglo-American explores a sale or spin-off.
Brands including LVMH’s Fred, TAG Heuer and Prada, whose lab-grown diamond supplier Snow speaks for the first time, have all unveiled products with man-made stones as they look to technology for new creative possibilities.
Consumers — and the industry — are increasingly buying into lab-grown stones, altering long-held jewellery industry standards for how diamonds are sold.
Diana Pearl is Senior News and Features Editor at The Business of Fashion. She is based in New York and drives BoF’s marketing and media coverage.
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