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Lab Grown Diamonds Helping Industry Overall, Bain Report Finds

The diamond industry charted growth in 2018 following a period of uncertainty.
The Antwerp World Diamond Centre and Bain & Co. have issued their annual diamond industry report for 2018.
Mining operations’ profitability increased this year, as did the diamond industry as a whole — the amount by which is yet to be determined. Despite 2017’s 2 percent growth across “all segments of the value chain,” numbers for a volatile 2018 will be “determined by sales performance during the holiday season.”
Demand in China this year grew for the first time since 2013 — a boost courtesy of Millennial consumers. Despite projections, sales in India – an area that had been isolated for growth — fell flat.
The report also presents evidence that lab grown diamonds are helping the industry as a whole.
“The effects on natural diamond demand and price will depend on consumers’ perceptions and preferences,” the report states. “If the natural diamond industry can differentiate its stones from lab-grown diamonds — perhaps positioning lab-grown diamonds as fashion jewelry rather than luxury items — the effect on natural diamond demand by 2030 will be limited up to 5 percent to 10 percent in value terms.”
The report cites the pricing structure of De Beers’

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Via:: https://wwd.com/accessories-news/jewelry/lab-grown-diamonds-helping-industry-bain-report-finds-1202926729/