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LGD prices tumble; “green, sustainability” hype is fading out

New 18K Lightweight Designer Brand Launches in Trivandrum, Blending Style, Comfort, and Ethical Luxury

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The man-made diamond boom is over, and prices for ultra-trendy lab-grown diamonds are set to tumble this year, industry veterans say. Paul Zimnisky, a leading diamond analyst, foresees jewellers scaling back their business in lab-grown diamonds while ramping up their focus on natural diamonds over the next year. In fact, most jewellers aren’t even bothering to stock lab-grown diamonds in inventory, and are only purchasing them on consignment, he told Business Insider.

Some of the shine behind lab-grown gems has diminished, largely because they’re so widely available. Lab-grown stones now make up around 20% of the total diamond market, Zimnisky estimates, up from nearly zero percent in 2015.

It’s the exact opposite of what jewellers have seen since 2018, when the hype around lab-grown diamonds took off. “Some of the fad is starting to fade a bit,” Zimnisky said. Retailers now “aggressively” push lab-grown stones. “I think it’s become a lot more mainstream.”

Lab-grown diamond prices, already a fraction of natural diamonds, could see an additional 80% decline, according to industry expert Cormac Kinney, CEO of Diamond Standard. Since their mainstream introduction in 2018, the price gap between lab-grown and natural diamonds has expanded, with some lab-grown diamonds now priced at just 10% of their natural counterparts. Kinney believes there is still significant room for prices to drop, anticipating a further 50% to 80% reduction.

“Fashion jewellery is always a very small fraction of real jewellery. Only real is rare.” He added: “Jewellers will tell me that a growing number of couples are coming in one to three years after buying an engagement ring and replacing it with a natural diamond.”

The hype about LGDs being “green and sustainable” seems to be dying out. Pandora’s CEO Alexander Lacik says consumers don’t buy LGDs because they’re “sustainable”. They buy them because they’re cheap.

Alexander Lacik told Fortune magazine: “When we talk about product choice, there are only two things that actually drive behaviour,” he said. Price and design. “ESG (environmental, social, and corporate governance) is a nice feature and for the people that are interested, we have a good story to tell, but it’s not the driver of the business.”

Gen Zs and millennials may claim they’re driven by environmental concerns, said Lacik, but at the end of the day they want the biggest stone they can get for their budget.

LGDs are mostly produced in factories by machines that require constant power. While there is a substantial range of outcomes depending on where the factory is located, the notion that lab-grown diamonds are “more environmentally friendly” is debatable.

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JB Insights

SSI 2026 Opens In Mumbai With Grand Inauguration, Landmark Launches and Strong Industry Participants

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Silver Show of India (SSI) 4th Edition Mumbai has officially commenced at the Jio World Convention Centre in Mumbai, once again cementing its reputation as a premier agent of transformation for the Indian silver jewellery and articles sector.

Day 1 of the exhibition came alive with an unmatched energy, featuring exciting launches, innovative collections, and high-value business interactions.

The prestigious event was inaugurated by Shri Ramdas Athawale (Hon’ble Minister of State for Social Justice & Empowerment, Government of India) and Shri Rahul Narwekar (Speaker of the Maharashtra Legislative Assembly). The inaugural ceremony was presided over by Prithviraj Kothari (National President – IBJA, President – JAB, and Chairman – SSI Exhibition Committee) alongside Dr. Chetan Kumar Mehta (President – Jewellery Division, IBJA) and other esteemed leaders of the jewellery fraternity.

The opening ceremony drew prominent dignitaries and stalwarts from the gem and jewellery industry, including:

  • Ba Ramesh, Joint MD – Thangamayil Jewellery Ltd.
  • Dr. Saurabh Gadgil, CMD – PNG Jewellers
  • Varghese Alukkas, MD – Jos Alukkas Group
  • Kirit Bhansali, Chairman – GJEPC
  • Pramod Agrawal, Chairman – NGJCI
  • Avinash Gupta, Vice Chairman – GJC
  • Mahender Kumar Tayal, Regional Chairperson – GJEPC

Addressing the gathering, Shri Rahul Narwekar said it was not just inaugurating SSI but celebration  of India’s craftsmanship, the ‘Make in India’ initiative, and the rapidly growing commercial opportunities within the silver sector.

Massive Footfall and Breathtaking Variety

Reflecting a highly positive and buoyant market sentiment, nearly 11,500 trade visitors from across the country thronged the show floor on the very first day in a serious buying mood. Conducted across two massive levels, the exhibition showcases an extraordinary range of sterling silver jewellery, bridal collections, antique lines, and cool minimalistic offerings. It also features a wide array of silver articles, including pooja articles, furniture, idols, artefacts, and a highly sought-after silver gifting segment.

The exceptional quality, variety, and innovation on display clearly demonstrated why SSI has become a revolutionary platform for promoting business networking, innovation, and growth within the segment.

Industry Insights

Varghese Alukkas, MD, Jos Alukkas said:

“The Silver Show has evolved into an important platform for the silver jewellery and lifestyle products industry. What stands out this year is the diversity of collections on display, the innovation in design, and the growing confidence among manufacturers and retailers alike. With silver gaining increasing acceptance across various customer segments, platforms like these play a crucial role in driving the industry’s growth. I congratulate the organizers for successfully creating a focused B2B ecosystem.”

Saurabh Gadgil, Chairman, PNG Jewellers said:

“The fourth edition Mumbai of SSI reflects the growing strength of the silver industry in India. The enthusiasm among retailers and buyers clearly indicates that silver is emerging as a preferred category across consumer segments. With the festive and gifting season ahead, platforms like SSI play a vital role in connecting the industry, driving business, and showcasing new trends.”

The Silver Show of India continues to serve as an invaluable B2B ecosystem, offering participants unmatched opportunities to discover new product lines, strengthen corporate relationships, and capture emerging consumer preferences.

The show floor witnessed an enthusiastic response from buyers and retailers as exhibitors unveiled innovative collections and product launches. Key highlights included:

Anmol Silver launched its Rudra Series, inspired by traditional Indian artistry and heritage craftsmanship.

Navkar Sterling Silver unveiled its Shell & Silver Collection, featuring elegant silver jewellery enhanced with mother-of-pearl, rubies, and emeralds.

Purple Jewels introduced TULIP – The Ultra Light Idols by Purple, showcasing technologically advanced 925 silver idols with exceptional detailing and finish.

Kraft Silver attracted attention with its extraordinary display of silver artefacts, including a magnificent silver cow, silver sofa, and innovative decorative creations.

Antaraa Silver showcased its exclusive range of premium silver accessories, luxury pens, and innovative lifestyle products, drawing appreciation from industry leaders and buyers alike.

Antariksh Jewellers, Chennai showcased an exquisite traditional pooja set.The collection which comprised a meticulously crafted

pooja thali, samai, chambu, bell, udarni, kamachi valak, and aarti.

MJR Silver showcased magnificent, oversized haaram. Emblazoned with the iconic MRJ logo, this masterpiece beautifully weaves together the rich tapestry of the brand’s diverse portfolio. Each intricate detail highlights their mastery of jewellery arts—from  kundan and the delicate precision of paper casting, to the modern innovation of electroforming and the soulful depth of hand nakashi work.

Ricchezza showcased Hollow Men’s RPT Jewellery comprising kadas, bracelets and neckwear.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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