The Contour of Luxury Summer 2019 - Page 176

The global diamond market is mounting, instigating an upsurge in price for manufactured diamonds. According to Bain & Company’s Global Diamond Report 2018, reported by Forbes, diamond sales increased 2% in 2017. Supplementary to this statistic, the “...Dover Street Market collection goes over $130,000 and we are not seeing any push-back at all,” says Ye-Hui Goldenson, director of public relations and communications for Diamond Foundry. The carbon-neutral process and fashion-forward positioning of the diamond collection produced by the collaborative effort caters to young, affluent, eco-minded consumers, giving rise to the competitiveand considerable price tag Consumers, especially millennials, are socially aware and mandate transparency for everything they put in and on their body. Therefore, ‘world-positive’ lab-grown gemstones denote a decidedly attractive alternative that satisfies these new classifications of and expectations for luxury jewelry. In accordance with this, consumers like that they know the origin of the stones they are going to wear, and that the stones are without the high human or environmental toll associated with mining, impelling them to include lab diamonds into their gemstone collections.Due to the evolution of diamond patrons, ‘mined or grown’ is no longer a binary decision; Goldenson states that “both kinds of diamonds can exist side-by-side.” Diamond Foundry’s lab-grown diamonds have carved their name in the gemstone industry, and with the benefaction of established designers, noteworthy figures in society, and the evolved luxury consumers, the future of these already sparkling above-ground diamonds looks especially scintillating.. Source: Photo credit: Diamond Foundry