Tiffany Says Man-Made Diamonds are Less Luxurious
As I was browsing the news today on the topic of diamonds, to see what kind of things are trending or newsworthy, it is ironic that I came across this article today from Forbes.com. A previous post, which you can find here, spoke about how big diamond company De Beers is entering the market of man-made diamonds. I talked about what this means for the little startups and how it changes the landscape.
Given my previous update, it caught my eye when another big diamond company, Tiffany, is in the news on the topic of lab-created diamonds. However, contrary to De Beers, they are taking a hard stance on not making man-made diamonds. According to the article, they refer to them as “less luxurious” than their natural counterpart.
Are Lab Created Diamonds a Luxury?
As quoted in the article, Andy Hart (the senior vice president of diamond and jewelry supply at Tiffany) says “Our position is lab-grown diamonds are not a luxury material.
We don’t see a role for them in a luxury brand. They have their use and they have their place, but I think luxury consumers will continue to desire the rarity and amazing story of natural diamonds.”
Of course, this became open season for manufacturers of lab-created diamonds to voice their opinion in response to Hart and Tiffany’s stance. Jason Payne, who is the founder of one of the leaders in the man-made diamond industry, immediately posted an open letter to clap back at Tiffany and explain why their stance on artificial diamonds is incorrect. According to Payne, new luxury customers want lab-made diamonds. He states “My clients are steadfast in their belief that lab diamonds are the epitome of modern luxury, with most proudly evangelizing the superiority of ‘cultured’ diamonds over ‘dirt’ diamonds.”
This whole discussion came about as Tiffany released news on the full transparency of their diamond mining and sourcing. The mining of diamonds can be a detriment to the environment, and with all the news about climate change and similar issues, Tiffany is outlining their actions on environmental responsibility in a letter to President Donald Trump.
As I have written before, I think that lab-created diamonds are inferior to natural diamonds. However, I will not ignore the environmental impact and applaud the positive effects that man-made diamonds create in the industry. To get natural diamonds, the mining operation requires dynamite and diesel and greatly impacts the environment in which it is sourced from. On the other hand, to create diamonds in a lab, all you need is an abundance of carbon, sun, and wind. When it comes to environmental impact, there is a clear winner in this race.
Whether you think one is superior to the other is a matter of opinion. I have stated my thoughts on which I prefer, but I’m not going to deny anyone from making their own choice. Artificial diamonds can certainly replicate the look of a real one, as well as be more affordable, and if it is not important to you and your partner to have a real rock, then I support whatever choice you make that fits your wants and needs.
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