Natural diamond industry faces a threat that’s beginning to organize.
Earlier this month we wrote about the formation of the first synthetic diamond organization, called the International Grown Diamond Association. Rapaport took a closer look at the potential impact of this new body, with writer Avi Krawitz saying it could “serve as a wake-up call for the industry.”
The article says that the natural diamond industry should welcome the establishment of the IGDA, but also take notice of the fact that as synthetic producers grow more organized, awareness of synthetic diamonds will increase. The goal, of course, is to increase market share.
“Ultimately, the natural diamond industry will need to embark on a campaign to remind consumers of its unique proposition, regardless of the traction that synthetics might gain, but also as the synthetics industry has upped its game,” Krawitz writes. “It will be left to the natural diamond industry to engage with the association and push its own agenda to mitigate the threat posed by synthetics.”
Read more at Rapaport
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