Why are you optimistic about the development of lab diamonds?

  1, lab diamonds have the same chemical properties, physical properties, optical properties as natural diamonds, the quality can be the same, the naked eye identification is more difficult.

  2, lab diamonds are widely used, high quality for light luxury jewellery, electronic semiconductor and other industry development needs to promote the development of low-quality lab diamonds greater application space, the current laboratory level has been able to achieve the weight of 14.6 carats, F colour, VVS2 cut lab diamond loose diamonds, as well as better quality of various types of colored diamonds, the future in the production, quality, price are more expected;.

  3, the current jewellery retail industry gold and silver business accounted for the proportion of the mark-up is difficult, low gross margin, while the gross margin of inlay products is relatively high, the industry seeks change under the downstream jewellery retailers have the incentive to promote the lab grown diamonds, while the downstream brand jewelers to increase the terminal supply, will accelerate consumer education;.

4, the younger generation of consumers consumption trends change, pleasing consumption, online consumption rise, to cultivate the diamond industry brings a good opportunity for development.

How do you see the market space for lab diamonds?

  Mr. Qin Wei believes that lab diamonds are comparable to natural diamonds in terms of quality, and the price is relatively more affordable, and the emotional value can be partially compensated by the "ritual" means of the business.

  At the same time, lab diamonds will open up new horizons in the field of luxury and self-pleasure, and the overall market space is huge. The core of the development of lab diamonds lies in the establishment of a global price system, especially at the retail end. 

  In the early stages of its development, there was a lot of chaos that disturbed consumer confidence, and the delay in establishing a price system was the biggest obstacle to its development. With the establishment of industry organisations, the development of technical specifications, the improvement of identification techniques, the expansion of production capacity and the increase in consumer awareness and market share, jewellers are expected to achieve higher and more stable premiums by virtue of their design capabilities, marketing experience and brand endorsement.

  lab diamonds is another opportunity for the development of the jewellery industry. Lab diamonds have greater advantages in terms of quality, environmental protection and cost, and the redistribution of supply in the global diamond industry, the development of the semiconductor industry and other needs make lab diamond technology and product quality, and the outbreak of market demand brought about by the demand for luxury and self-pleasure, etc. The market space is expected to open up. With the gradual layout of domestic and international jewellery brand owners, the supply of the retail end will accelerate consumer education.

The changes already seen on the retail side

  India's lab diamond rough imports and loose cvd diamond exports are growing faster than natural diamond rough imports and loose diamond exports over the same period. This, coupled with the fact that the country is now also creating a diamond processing base, is actually producing higher volumes of rough lab diamonds. 

  The United States has become the largest consumer of lab diamonds, with sales of lab diamonds in the United States accounting for 80% of the global market in 2019, according to Bain & Company; according to market research, the European and Chinese markets are also increasing their understanding and acceptance of lab diamonds, and more of this is happening in first-tier cities.