Jewelry manufacturer began offering synthetic diamonds earlier this year.
Speaking with Rapaport, Stanley Zale, VP of diamonds and gemstones at Stuller, explains how his company views the future of synthetic diamonds, which the jewelry manufacturer recently announced it would begin offering.
The news outlet asked Zale: “Do you agree with the view that lab-grown diamonds will lose value as supply increases?”
Zale responded: “I don’t know what’s going to happen with the value, but I believe in the laws of supply and demand. If the price of lab-grown diamonds goes down so much that they become worthless, people will stop manufacturing them. Over time, a correct level will be found.”
Rapaport News also asked: “How do you respond to claims that lab-grown diamonds are a more ethical product than natural diamonds?”
Zale’s response: “The industry needs to do a better job telling the diamonds-do-good story. The value of lab-grown diamonds is derived from the value we place on natural diamonds. Therefore, talking down natural diamonds or saying lab-grown diamonds are a more virtuous alternative does not help. We’re not claiming that its eco-friendly or better than anything else. We’re just trying to give our customers what they might want. It’s not our place to make judgements about what someone puts in a piece of jewelry as long as it’s reasonable.”