In the past one year, various well established jewelry brands have adopted Lab-grown diamonds over mined ones. Since the process to create Lab-grown diamonds is purely ethical and they are less expensive to the mined counterparts, more and more people are observed to prefer Lab-grown diamonds.
Back in May 2016, Swarovski for the first time introduced Lab-grown diamonds with the brand ‘Diama’. Earlier this year, it unveiled another line of Lab-grown diamonds at the Academy awards’ red carpet event.
Celebrating the 10th anniversary of Atelier Swarovski, Nadja Swarovski wanted something that was responsible, sustainable and forward-looking. The line that in past was known for its designs with simulants like Cubic Zirconia (CZ), Moissanite or rhinestones – crystals, has added Lab-grown diamonds to their stone collections. Well known designers like Karl Lagerfeld, Zaha Hadid and Christopher Kane have also been collaborators to the collection’s designs.
The new definition of diamonds for the customer includes their place of origin. They want to buy something which is conflict free and has a lower impact on the environment and society. Nadja Swarovski calls this concept ‘conscious luxury’.
Timeline of the first Lab-grown diamond dates back to 1954, but it is only in the past 10 years that they have been refined to match the mined ones. Lab-grown diamonds created today are identical to mined diamonds.
Tom Moses, Executive Vice President and Chief Laboratory and Research Officer at GIA (Gemological Institute of America) said, “We judge diamonds by the four Cs. The goal of labs is to grow something perfectly clear, transparent and colorless, without any occlusions visible at 10-times magnification.”
Swarovski has been world’s leading crystal and crystal jewelry, Austria-based company. It had revenue of USD 3.93 Bn in 2016 and also has a separate division that deals in mined gemstones, yet they have ventured into Lab-grown diamonds which are less expensive.
Nadja Swarovski added to it saying, “We were driven to use materials that embody the innovation rooted in our brand and lab-created diamonds and emeralds represent that spirit of exploration.”
The line has been put together using gems grown at several labs including Diamond Foundry and cut by Swarovski’s specialists to match the artist’s design. The pieces are produced in Paris by Cambour, the jewlery fabrication company. The 23 pieces which are part of the line were showcased in May, during the Cannes Film Festival and are based on three themes – Mosaic, Art Deco and Concentric.
Considering the traction in Lab-grown diamonds, several new and established players are entering the segment lately and entrepreneur communities are abuzz with this trend.