A Wren Says

The other day, I got an ad for natural diamonds. Which made me wonder, Why?

I did some digging and found out the major mining companies came together in 2015 as a way to collectively fight the growing demand for lab-grown diamonds. Originally, the collective was known as The Diamond Producers Association. About two years ago, they changed the name to the Natural Diamond Council.

The council created a series of videos and ad campaigns encouraging consumers to consider natural diamonds as of greater value. I was suggested a video with Lilly James, but they have also worked with Ana de Armas, Jurnee Smollet and multiple luxury jewelry brands. In the campaign, they highlight the timelessness and beauty of natural diamonds. Their website also tells visitors that their purchases of natural diamonds help increase wildlife conservation, sustain remote and indigenous communities, fund education access, and support women business owners in Africa.

The creation of the council and marketing efforts are connected to the increasing market share cornered by lab-grown diamonds. Consumers who want diamonds are faced with some dilemmas that push them towards man-made jewels. For one, lab-grown diamonds are just cheaper. A budget conscious shopper will find this option to be up to 73% less expensive. Others might be interested in avoiding the ethical dilemmas attached to diamond mining, including child labor and the funding of violent regimes. Major jewelry brand Pandora has also announced they will only be using lab diamonds, to meet growing consumer demand for more sustainable jewelry.

Currently, man-made diamonds still represent a tiny fraction of the market, at just 7%, but sales have been growing steadily. Meanwhile, sales of natural diamonds are on the decline. The concern is the acceptability of lab grown diamonds will only increase.

Personally, I am interested in seeing if this campaign will have the same effect of increasing demand like previous campaigns (think all the word De Beers did to make engagement rings with diamonds a thing). I also wonder if they will begin promoting videos highlighting the efforts in making mining more ethical and sustainable, as this is one the large issues in the minds of consumers.

What are your thoughts? Do you have a preference for lab-grown or natural diamonds? If so, why? (Or, are you like me and not particularly interested in jewels?)

Sources

Graff, M. (June 3, 2020) The Diamond Producers Association has a new name. National Jeweler. https://www.nationaljeweler.com/articles/5668-the-diamond-producers-association-has-a-new-name

Kavilanz, P. (April 27, 2022) Why lab-grown diamond sales are surging. CNN Business. https://www.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html