Connect with us

Headlines

Chow Tai Fook: There’s No Market for Lab-Grown Diamonds Among Our Customers

Chow Tai Fook isn’t looking to sell this product any time soon.

mm

Published

on

Don’t expect Asian retail jewelry giant Chow Tai Fook to start selling laboratory-grown diamonds any time soon.

Chinese customers simply don’t want the product, said Kent Wong, managing director of Chow Tai Fook Jewellery Group, according to Rapaport News. To them, an authentic diamond has to be natural.

He told Rapaport that “there’s no grey area in China when it comes to man-made diamonds.”

Hong Kong-based Chow Tai Fook operates a retail network of more than 2,000 points of sale, the majority of which are in China, Hong Kong, Macau and Taiwan.

Lab-grown diamonds have been a topic on the minds of many executives in the industry lately. 

De Beers Group announced in May that it would launch a company called Lightbox Jewelry to begin marketing such jewelry. Lightbox lab-grown diamonds were set to become available this month, retailng from $200 for a quarter-carat stone to $800 for a one-carat stone.

Advertisement

And Signet CEO Gina Drosos said earlier this month that selling lab-grown diamonds in the future is a distinct possibility for her company. She told analysts that Signet is “very closely monitoring and assessing the demand for this emerging category.”

Read more at Rapaport News

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Wilkerson Helped This Jeweler to Navigate His Retirement Sale Despite a Pandemic

Hosting a going-out-of-business sale when the coronavirus pandemic hit wasn’t a part of Bob Smith’s game plan for his retirement. Smith, the owner of E.M. Smith Jewelers in Chillicothe, Ohio, says the governor closed the state mid-way through. But Smith chose Wilkerson, and Wilkerson handled it like a champ, says Smith. And when it was time for the state to reopen, the sale continued like nothing had ever happened. “I’d recommend Wilkerson,” he says. “They do business the way we do business.”

Promoted Headlines

Most Popular