Diamond World (DW) May - June 2020

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DW Promotion Source: Limelight Handcrafted Diamonds 2. Increasing ACCEPTANCE of lab grown CVD diamonds in India Indian consumers have begun embracing lab grown diamond jewellery mainly due to the wide education drive on the creation process conducted by several brands in the country. This has helped consumers understand that these diamonds are as REAL as natural diamonds and originate from a natural diamond itself – similar to the concept of IVF technology / test tube babies. Along with that, the recent campaign conducted by Limelight Diamonds with support from the Royal Families of India who have been prime custodians of some of the most precious diamonds in the world, and their encouragement for technology and its ability to produce the purest Type IIa diamonds through the CVD process yet saving the planet, helped the consumers understand that these are not low in quality but the purest type of diamonds – maintaining the aspiration behind the purchase just like any other precious gemstone. Moreover, the millennials and Gen Z of the country have shown even stronger support for these diamonds because of their ethical, social and environmental benefits as there is no mining involved. However, a lot more education is still required to the trade and the consumers to infuse the confidence of establishing this as a distinct product category by the trade and a distinct product offering/choice to the consumers. 3. Indian MILLENNIAL – the diamond jewellery CUSTOMER for next 15-20 years 410 million millennials. The largest millennial population in the world. An opportunity that cannot be missed. Millennials, those roughly born between 1980s – 2000’s, and the target audience of every growing industry, are increasingly leaning towards spending less on high value luxury items and more willing to spend on experiences. Whilst post Covid era will see some short term shift in spending from travel and food into more luxury purchase, the millennial is likely to remain more price conscious and will only PURCHASE WITH A PURPOSE. On taking a look at their purchasing preferences, a recent Deloitte report on Millennials in India states that climate change & environment has become the no.1 priority or concern for them. Statistics also state that 44% of these millennials are willing to a pay a premium on sustainable products/ materials. 70% of a survey in U.S. conducted by MVI Marketing, said the millennials would consider buying a lab grown diamond engagement ring as it provides a bigger stone for the same money and they would like to save money on an engagement ring. “Among consumers in general, and millennials most specifically, mineddiamonds have a bad reputation for the high human cost and environmental damage that mining operations entail. This generation is fixated on responsible sourcing and manufacturing of the products they buy. Lab-grown diamonds meet that demand, while mineddiamonds fall short.” – Forbes.com 106 | may-june 2020 | DiamonD WorlD
DW Promotion Source: Limelight Handcrafted Diamonds 4. Increasing consumer acceptance for SUSTAINABLE PRODUCTS, especially post Covid-19 This message has resonated strongly with consumers and the post- Covid era is likely to see a strong shift in the behaviour, attitudes and purchasing patterns of consumers. Several studies and analysis, including the recent Bain & Co report suggests that consumers in response to the crisis will have an increased environmental and social consciousness and sustainable alternatives to conventional products will start having a preference. CVD Diamonds are not just flawless but they do not bear the burden of mining and save 109 gallons of water and 1,750 tonnes of earth per carat. Land mass and water being the most precious and stretched resources today. Even pre-Covid era, with the rising consciousness amongst consumers for saving the environment, several sustainable alternatives have emerged across industries such as electric vehicles, recycled fashion, bamboo brushes and straws etc. However, all these products are yet to scale and currently remain more expensive that their conventional counterpart for the end customer. Interestingly, the gems & jewellery industry is strongly placed with a sustainable product like the lab grown diamonds that are affordable relative to the natural diamonds. “Women in today’s age make their own choices and decisions. They have their own independence not just in terms of profession but are now more empowered in their thoughts and opinions. This is very much starting to reflect in the trends in the fashion and jewellery industry where more women are opting for sustainable options - such as the lab grown CVD diamonds - that allow them to enjoy several luxuries without damaging the planet for the future generation. With women getting economically and socially independent they deserve to celebrate every little achievement and any big success with a girl’s best friend - a sustainable diamond.” – Pooja Sheth, MD & Founder of Limelight Handcrafted Diamonds. 5. Lab grown CVD diamonds are certified as the purest Type IIa diamonds CVD diamonds are classified as the purest type of diamonds – Type IIa – by world’s leading diamond certifying organisations such as the SGL labs & IGI. Type IIa diamonds are devoid of any impurities and almost entirely composed of carbon. As a result, the brilliance, shine & lustre of a Type IIa diamond is significantly better than any other type of diamond. Any such diamond even with a natural origin has a mention of Type IIa on its certificate and is sold at a 5 – 15% premium in the market. But such diamonds are rare to find under the earth’s surface as 98% of natural diamonds have nitrogen impurities. Only 2% of all natural diamonds in the world have been classified as Type IIa. The world-famous Koh-i-Noor, 105.6-carat, is a Type IIa diamond, found from the ancient Golconda mines (now between Telangana and Andhra Pradesh). Some of the most world famous Type IIa diamonds have emerged from the Golconda Kullur mines in India. However, due to the rarity of Type IIa diamonds, most consumers do not have access to the purest diamonds. Through the CVD technology, and only through this technology, the Type IIa privilege can be brought at the hands of each consumer. In addition, lab grown diamonds particularly CVD diamonds have resale value. Brands like Limelight Diamonds, offer its consumers buyback and 100% exchange opportunities. “The beauty of technology is that it permits you to enjoy something you could never even dream of. Truly, an industry revolution, CVD diamonds turn dreams into reality by offering Type IIa diamonds that belong to the same league as the Koh-i- Noor at the hand of every consumer. At the same time creating a new kind of heritage that can protect the legacy of the diamond yet preserve the planet for a brighter future for all,” says Pooja Sheth. “India was ONCE one of the largest mines for Type IIa diamonds and India now ONCE AGAIN stands the chance to be the largest mine for Type IIa diamonds through the CVD technology.” Source: Limelight Handcrafted Diamond Jewellery Disclaimer: This article is for advertorial purpose only. All information has been provided by Limelight Lab-Grown Diamonds Ltd. Diamond World will not be responsible for decisions based on this article. DiamonD WorlD | may-june 2020 | 107
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FOunDER: Late Vidya Vinod Kala Alok
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editorial Sparkle of Hope No pandem
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RoUGh & MininG Rough prices of Petr
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Round & About POLISHED DIAMONDS 3ct
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Lab & TechnoLogy Round & About GIA
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Round & About Retail and ecommeRce
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In MeMorIaM He was born in Patan, G
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In MeMorIaM Arunbhai with De Beers
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In MeMorIaM A Saga of Successes A t
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In MeMorIaM Remembering a Gentleman
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In MeMorIaM Life & Times of Arunbha
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In MeMorIaM Antwerp diamond market
Page 57: In MeMorIaM With late Shri Mafatlal
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Page 71 and 72: Cover Story The Carpe Diem mentalit
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Page 75: Cover Story happiness through the s
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Page 84 and 85: SPECIAL REPORT Ban on rough diamond
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Page 91 and 92: SPECIAL REPORT Earrings, Oriental G
Page 93 and 94: SPECIAL REPORT sales in the first t
Page 96 and 97: Special Feature Cartier Gem-Set, Di
Page 98: Special Feature Who are these Colle
Page 101 and 102: The Rock Talk Gem set & diamond bra
Page 103 and 104: The Rock Talk Roman Barocco necklac
Page 106 and 107: DW Promotion Limelight Lab-Grown Di
Page 110 and 111: Design stuDio Selim Mouzannar Beare
Page 112 and 113: Design stuDio Fine jewellery is bei
Page 114 and 115: GIA AdvertorIAl Stone Talk Ruby Rar
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Diamond World (DW) May - June 2020

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