The debate between lab grown diamonds and naturals doesn’t seem to die down. Natural diamonds have had an unfettered rule in the global fine jewellery business for centuries until technological advancement allowed lab-grown diamonds, hitherto used in machine tools and cutting, found their way successfully into the fashion and jewellery space purely based on two reasons : perceived identical appearance and a staggeringly low price. Their entry into the market created a space for affordable jewellery, but they are not designed or are equipped to take over the natural diamond market. That’s because they are different and can be scientifically identified as such. 

Far from disrupting the prominence of natural diamonds, LGDs have emerged as a complementary force, addressing distinct consumer needs while broadening the appeal of diamond jewelry. But, let’s understand the purpose and appeal of each category. 

Natural diamonds continue to hold an unparalleled allure, deeply rooted in their rarity, geological history, and cultural heritage. They symbolize luxury, timelessness, and emotional significance, often marking milestone moments like engagements, weddings, and the creation of family heirlooms. Spending billions of years to be formed under the earth’s surface, natural diamonds command admiration from customers who associate lasting happiness and joy with the person they are buying it for, be it a self-purchase or a gift. Its journey of formation itself carries that value which, thanks to rising awareness, is of great value to its target audience irrespective of age barriers. Such consumers prioritize provenance, ethical sourcing, and origin determination, which reinforce the enduring appeal and exclusivity of natural diamonds.

On the other hand, lab-grown diamonds have carved out their own niche in the global jewelry market, starting with eco-conscious Millennials and Gen Z consumers in the United States. These synthetic diamonds appeal to buyers seeking sustainable and affordable alternatives. In India, a global hub for jewelry, the demand for LGDs is still at its nascent stage, because consumers are still understanding the product. Hence, there is a slow but steady growth in demand driven by their cost-effectiveness and the growing adoption of Western fashion sensibilities. Offering flexibility in design, LGDs are well-suited for trendy, everyday jewelry that embraces unconventional materials such as silver, tungsten, and titanium. They provide consumers with the freedom to explore unique styles while aligning with contemporary values of affordability and sustainability.

The distinction between natural and lab-grown diamonds is not merely academic—it is vital to maintaining consumer trust. Nomenclature is of paramount importance in this regard, as there are several ways to identify a lab-grown diamond. Since they are created in a controlled environment, their origin is different from those built by nature, and hence, must be positioned accordingly to extend confidence to customers of either segment. Thus, while both have their own value propositions, transparency in branding and communication is essential. Lab-grown diamonds should be presented as a distinct category, emphasizing their origin and purpose, rather than being combined with natural diamonds. 

As the diamond industry evolves, embracing the differences between natural and lab-grown diamonds is key to unlocking their full potential. Each caters to specific consumer preferences—natural diamonds for their legacy and emotional resonance, and lab-grown diamonds for their modern, versatile appeal. Retailers and stakeholders must adopt tailored marketing strategies and far better quality in certification and grading standards to give consumers exactly what they bought their products for. While the entire supply chain needs to be strongly educated to firstly identify the differences and sell the right jewellery, retailers especially need to refine marketing messages to effectively communicate these unique value propositions. This can be done by conducting awareness workshops for end-consumers and often showcasing both varieties to them just for knowledge. All in all, by fostering transparency, differentiation, and synergy within the supply chain, the industry can ensure the sustainable growth of both segments, securing a bright future for diamond jewelry on a global scale.

Shivaram A is a much sought after mentor, consultant, trainer and speaker across multiple industry platforms. He founded Retail Gurukul in 2012 as a Consulting & Training company. Shivaram has since helped and continues to help retailers and manufacturers, significantly improve their business performance across various metrics.

Shivaram’s  A Guide to Jewellery Retailing-Consumer facing operations  is  ultimate resource for jewellery store owners striving for success in today’s competitive market. Discover the secrets to making your jewellery retailing store succeed, draw in a steady flow of customers, and cultivate lasting loyalty. This comprehensive guide offers actionable advice and real-world examples to elevate your store’s aesthetics, service quality, and sales performance. This is an extract from A Guide to Jewellery Retailing-Consumer facing operations.

From the small corner-store goldsmith to the high-end boutique  jeweller in their own high-rise building, jewellery retailers come in  all forms and sizes. With the Indian jewellery market teeming with  nearly 300,000 players, every jewellery retailer must position  themselves uniquely to make their presence known in this  competitive scenario. 

As a jewellery retailer, you first have to decide whether you want  to remain as just a “store” or create a “brand”. But what is the  difference? 

A “brand” has some definable qualities by which it can be uniquely  identified. These qualities or features form a perception in the  minds of the customer which is called its brand equity. 

As a jeweller, you can project certain aspects of your jewellery  merchandise or customer service as brand quality. 

Look at how PC Chandra, the renowned Kolkata Jewellers are  trying to position themselves with the help of the famous creative  agency J Walter Thompson (JWT).  Ayan Chakraborty, VP and executive business director, JWT  Kolkata, said, “PC Chandra’s intricate craftsmanship and the brand’s unique image in the minds of Bengalis all over the world is  something we kept in mind while working.” 

Arjun Mukherjee, VP and ECD, JWT Kolkata, added, “The challenge was to create a philosophy for the brand which every modern  woman will relate to. We went beyond the beauty space in jewellery and tried to find an emotion that will resonate with one  and all.” 

You too can position your jewellery outlet as a unique brand by  defining its values and expressing your trade philosophy in the  following ways.

Ways in which you can position your outlet

Jewellery stores fall into certain categories. First, try to identify  which category you belong to, and then add value to it by defining  your strengths. You may be a: 

1. Personal Jeweller

When a customer looks for jewellery “tailor-made to his taste”, he comes to the personal jeweller. The Personal Jeweller highlights  the uniqueness of design, exclusivity and personalization as his  value points. Elite and royal families of illustrious lineage and social  celebrities often prefer to have their own personal jewellers. 

As a Personal Jeweller, you must vouch for your individuality in  design and integrity in trust. If you possess Jewellery design  software and have bagged Jewellery design awards, you really can  boast of being a genuine Personal Jeweller. 

2. Ethnic Jeweller

For people who have a taste for traditional and ethnic designs, the  Ethnic Jeweller is the destination. As an Ethnic Jeweller, you must  have profound knowledge in temple designs and must have the  capacity to reproduce them without even the slightest difference.  Polki, Jadau, Tanjore, Chettinad and Malabar designs feature as  ethnic offerings.

3. Modern Jeweller

For the young and trendy, the Modern Jeweller is the person to call  on. The Modern Jeweller must dabble in fusion and fashion.  Rhodium, Rose gold, Platinum and 18k designs are part of the  modern offerings. 

4. Boutique Jeweller

The boutique Jeweller is the guy who prides himself on his  jewellery range and exemplary service. These artistic showrooms  offer an appealing ambience and a comfortable customer  experience. Boutique Jewellers have several jewellery lines made  by different designers. 

5. Estate Jeweller

If you are looking for antique jewellery or vintage heirlooms, the  Estate Jeweller is the guy to go to. As an Estate Jeweller, you must  have the resourcefulness to seek and procure historic jewellery  with sufficient proof. Estate jewellers are very expensive as they  deal with high-end jewellery collectables. 

 6. Main Street Jeweller

The Main Street Jeweller has the sole objective of capturing the  interest of the urban audience. He caters to them with an eclectic  mix of traditional and modern jewellers with their latest  preferences in mind.

7. Chain Store Jeweller

With branches at multiple locations, the Chain Store Jeweller  prides itself on its wide geographical presence and popularity. His  network of stores may be at diverse locations but portray the same  brand image.

Steps to position your Jewellery store 

1. First, identify yourself with a particular Jeweller category among the ones listed above.

2. Outline your strengths in stock, service, range, design etc. 3. Zero in on your “unique selling points” – is it affordability, service, repair facility, cost savings…

4. Crystallize your brand persona as a brand image with the help of expert consultants like Retail Gurukul who can bring to light the hidden values of your brand.

5. Position your brand with this persona by forming a unique brand image and taglines.

6. Popularize your brand using these brand messages and establish your brand.

Your brand is as precious as your jewellery. Position it with  perfection to reach the pinnacle of success.

Today’s brides are a bold, beautiful and thoughtful tribe. For them, ethical sourcing and sustainability are among the topmost priorities when it comes to purchasing jewels for their big day. The rapid technological advancements in the jewellery industry like the 3D printing have given way to more intricate and aesthetic designs to cater to shifting customer preferences. Designers are getting better at creativity, thanks to the encouragement by customers who are open to experimentation. 

In 2024, brides opted for jewels which complimented their personality, and the same trend will follow suit this year too. While a section preferred heavy traditional pieces, others choose jewels which could be used for both special occasions and otherwise.

Weddings have always been an elaborate event in India and its dimensions are getting wider, day by day, driven more by the choices and personalities of the bride and the groom.  

The pre-wedding and post-wedding events are properly planned and executed, and brides wish to adorn different varieties of jewels to match their attire. Hence, I expect personalised and bespoke creations to rule the roost this year too.  

Not just brides, the family members also make gold and diamond purchases to look their best on the special day. While some opt for timeless classic jewel models, others want to experiment with creative new designs.   

In a broader sense, bold geometric shapes and mixed-metal designs with vibrant gemstones and rich enamel are making a comeback and that trend is expected to soar.    

At the same time, traditional craftsmanship is also being appreciated with a section of the brides opting for jewels that reflect their culture and heritage. VBJ is known for its legacy and will continue to use artisanal techniques and designs inspired by historical motifs to bring out products that will be loved by all.

The market for high-quality, timeless traditional jewellery will remain unshaken, as these are durable items that hold aesthetic and financial value.   

Despite the noise about lab-grown diamonds, natural diamonds will remain much sought after and brides will want to possess diamonds that act as a medium of personal expression. The demand for contemporary and versatile designs that can be worn every day as well as for special occasions will rise.  VBJ is all game to explore new possibilities in design, where tradition meets modernity, offering exceptional craftsmanship that is both timeless and relevant.

The brides of 2025 will opt for jewels that are a perfect blend of stunning aesthetics, advanced technology, and conscious luxury and the Indian Weddings will only get bigger and better, this year.