(PRESS RELEASE) CARLSBAD, CA — The Grown Diamond Trade Organization (GDTO) announced its mission to revolutionize the lab-grown diamond industry. GDTO aims to unite growers, manufacturers and retailers to create a single voice to the consumer and unify the rapidly growing lab-grown diamond segment of the jewelry market.
“It’s time for lab-grown diamonds to have its own ecosystem,” said Marty Hurwitz, GDTO’s executive director. “The consumer’s voice is loud and clear; we must organize to meet the growing demand and proudly differentiate from the traditional mined diamond institutions.”
Membership Benefits
GDTO addresses concerns about the high cost of traditional diamond reports, particularly for lab-grown diamonds. The new GDTO Jewelry Reports, available to members only, offers reliable and inexpensive certifications regarding manufacturing processes, quality control, and the specifications of the finished jewelry.
“Lab Grown Diamonds are manufactured to strict standards and should be graded accordingly,” added Marty Hurwitz. “Lab Grown Diamonds are grown to strict tolerances with multiple quality control steps throughout. Sending a grown diamond to a laboratory to verify the quality after it’s produced is akin to re-opening and tasting every bottle of wine after it’s corked. It simply doesn’t make sense.”
Beyond the traditional 4Cs, GDTO’s Jewelry Reports will encapsulate the entire finished piece of jewelry, not merely the center stone. Finally, for the first time ever, GDTO will introduce the industry’s first Sustainability Rating, ensuring transparency about the jewelry’s source, conditions, and production.
An advisory board, consisting of key senior executives from the lab-grown diamond supply chain, will support GDTO’s mission. The GDTO advisory board includes Mehul Vaghani, CEO of Kira Jewels, Lani Nguyen, president of Valentina Designs, Suhel Kothari, president of Renaissance Global, David Sherwood, CEO of Daniel’s Jewelers, Dan Schneider, president Pure Grown Diamonds, Irene Hsieh, CEO of Joy Colori, Bob Golden, president of Allure Gems and Roger Kylberg, Co-CEO of 2DOT4.
Support for Retailers
Retailer members will benefit from a co-op advertising fund, sales associate training materials, consumer and trade PR support, vendor matching, government lobbying, and capital raising assistance. GDTO is also planning the first-ever lab-grown diamond-only trade show.
For more information about GDTO and membership opportunities, visit here.