The lab grown diamond market is entering the fast lane,How can brands create new needs among young consumers?

As a new consumer in emerging markets, the industry of Lab Grown diamonds has developed very rapidly in the past two years, with its growth potential increasing. Domestically, continuous breakthroughs in technology have also driven the rapid development of the market, and the recognition of the lab-grown diamond industry and consumer awareness have also continued to increase; internationally, as the international geopolitical situation has accelerated recently, Russian mine diamonds have been restricted, and "double carbon" "The target is getting closer and closer, bringing many uncertainties to natural diamonds. At the same time, the consumer market also needs to explore new growth poles. It is just the right time for cultivated diamonds to start making strides into the "fast lane" of development.


According to feedback from the international market, 70% of Millennials in the U.S. market recognize lab grown diamonds, and there has also been a good response among Millennials and younger consumer groups in India. Some surveys show that Millennials in India Prefer diamonds over gold.

In terms of sales, the U.S. market takes the lead. According to a market report released by Tenoris in August, U.S. lab-grown diamond sales (in terms of quantity) accounted for close to 50% in July. The current sales ratio of lab-grown diamonds and loose diamonds It has stabilized above 50%. It may gain more shares next year.

As a popular track at the moment, cultured diamonds come in line with the times. The increasing number of entrants has also confirmed that this market has huge room for development.

1) International luxury brands have successively increased their investment in the cultivated diamond track. After LVMH Group invested in the Israeli cultivated diamond manufacturer Lusix in 2022, Gucci released a new product series of cultivated diamonds; in November this year, the Belgian jewelry company BAUNAT launched a cultivated diamond jewelry brand for the first time.

2) Domestically, local and Hong Kong investors represented by China Gold, Chow Tai Fook, Yuyuan Holdings, Mancaron, and Chao Acer are actively entering the market. With the advantage of terminal channels, they are expected to accelerate end consumer education and distribution volume, and the Chinese market space Can be expected to open. Chinese brands are accelerating the layout of cultivated diamond retail, accelerating the pace of market education, and constantly releasing new demands, which will drive the development of the entire industry chain and stimulate upstream expansion of production capacity.

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