In a rapidly evolving global market, the traditional pillars of luxury—scarcity, high price points, and status—are being dismantled. Kaivan Shah –Co-founder of ASHTH, posits that we are entering an era where luxury is defined by emotional resonance, ethical integrity, and creative freedom. Driven by the conscientious values of Gen Z, the jewelry industry is shifting from a “store of value” model to a “narrative of self” model.

At the forefront of the lab diamond revolution is Ashth with its tag line  Mine. Not Mined. driving over 20% YoY growth in designer lab diamond jewellery. Built on three pillars—Innovation, Ethics, and Unmatched Craftsmanship—Ashth captivates ethical luxury consumers.

The Shift from Status to Sentiment

Kaivan argues that modern luxury is an intensely personal experience. The value of a piece of jewelry no longer rests solely on its price tag, but on the memories and meanings it evokes. For the contemporary consumer, jewelry serves as a medium for self-expression. This transition marks a departure from outward displays of wealth toward an inward alignment with one’s personal identity and beliefs.

The Ethical Revolution: Lab-Grown Diamonds

A central theme in Kaivan’s perspective is the rise of lab-grown diamonds (LGDs) as a moral and cultural choice rather than a budget-driven one. Led by Gen Z’s demand for transparency and sustainability, LGDs have moved from the periphery to the center of the luxury conversation.

• Values over Valuation: Affluent consumers are increasingly choosing LGDs because they align with a commitment to environmental and social responsibility.
• A New Product Category: By decoupling diamonds from the “investment asset” mindset, the industry is free to treat them as high-value, consumable luxury, focusing on their aesthetic and emotional appeal rather than their resale speculation.

Design as the New Differentiator

With the constraints of material cost significantly lowered by LGDs, a new frontier of unleashed creativity has emerged. Kaivan highlights how this affordability acts as a catalyst for innovation:

• Bold Silhouettes: Designers can now experiment with larger carats, intricate structures, and avant-garde shapes that were previously cost-prohibitive.
• Versatility: The focus has shifted toward wearable luxury—pieces like detachable earrings and modular necklaces that offer multi-functional utility for the modern lifestyle.
• Artistry over Rarity: In the LGD era, the “premium aura” is built through superior craftsmanship and distinctive storytelling rather than the mere rarity of the stone.

Kaivan underscores the USP of Ashth’s product portfolio: the exclusive 97-facet Ashth Cut, a patented octagon-shape lab-grown diamond that maximizes brilliance and fire. This visionary cut powers 2000+ designs across 20+ categories, including lab-grown diamond rings, earrings, necklaces & pendants, bracelets & bangles, and initial & charm jewellery—for every occasion

India’s Strategic Transformation

Perhaps the most ambitious aspect of Kaivan’s vision is the repositioning of India. While the nation has long been the “world’s workshop” for cutting and polishing, Kaivan sees a future where India is the global design capital.

By leveraging its rich cultural heritage and artisanal expertise alongside the flexibility of lab-grown diamonds, India can lead global trends. However, this requires a shift toward a more organized, collaborative ecosystem that bridges the gap between growers, designers, and retailers to project a unified creative voice to the world.

Conclusion

Ultimately, Kaivan envisions a future where luxury is democratized through design and sanctified through ethics. The lab-grown diamond is the symbol of this transition—a bridge between heritage craftsmanship and a future-forward, responsible philosophy. For the industry, the challenge and the opportunity lie in embracing this new vocabulary: one where authenticity is the ultimate luxury.