With the significant price hike in naturally mined diamonds, consumers have begun to look at the greener, pocket-friendly option of lab-grown diamonds this season.
Lab-grown diamonds (LGD) are the same as mined diamonds but just grown in labs instead of growing below the earth. Just like the concept of test-tube babies and naturally born babies where the process is different but the output is the same, LGDs are 100% real diamonds that are grown by exactly replicating the diamond creation process which occurs below the surface of the earth. As a result, LGDs have the same chemical, thermal, optical and physical characteristics as a mined diamond.
The only difference is that because lab diamonds are NOT MINED they do not involve the destruction of huge masses of land and water that occurs in mining. As a result, all LGDs save the environment and are conflict-free and eco-friendly. In addition to this, they also save up on all the heavy mining costs and that saving is passed on as a benefit to the customer due to which a lab-grown diamond is at least 50% cheaper than a naturally mined diamond. So, it is not only eco-friendly but pocket-friendly too!
“Today in the world we consume 111 million carats of mined diamonds. One can imagine the kind of environmental damage that goes behind digging, mining and consuming this piece of rock. At the end of the day, it simply enhances a woman’s beauty and confidence. But then why should that come at the cost of hurting the planet or the people? Is that the way, the woman of today wants to feel beautiful? When technology now enables us to get the exact same diamond, with no compromise in the quality and save the planet? That I think is the proposition that lab-grown diamonds bring to the table,” says Pooja Sheth, Founder & MD of Limelight Lab Grown Diamonds, who sees the huge gap of 159 million carats between demand for rough diamonds and the depleting supply of mined diamonds in 10 years as an opportunity to be filled with lab-grown CVD diamonds.
Looking at the growing demand for diamond jewellery in Chennai, Konika Jewellers is presenting exclusive lab-grown diamond studded jewellery from Limelight Lab Grown Diamond. All of Limelight’s diamond studded jewellery will be available after its launch on 10th June at Konika's Puraswakam store.
Speaking on the occasion, Tanvi Singhi, Marketing Head of Konika Jewellery, says, “These days there is a growing awareness about lab-grown diamonds amongst the customers, and they are choosing brands that are educating their customers and completely transparent. That's why we thought why not we also present to our customers the best in class Lab Grown Diamond Studded Jewellery made by Limelight? We believe that lab-grown diamonds are the identity of the youth of tomorrow."
With increasing awareness of lab-grown diamonds worldwide and its acceptance as an eco-friendly/sustainable alternative, research suggests that the market opportunity for lab-grown diamonds in the global gems and jewellery sector alone is expected to touch $80bn by 2030.
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