“There’s growth and momentum within fashion that we need to do a better job of tapping into,” he said. “There’s customer demand within the sub-$1,000 and sub-$500 gift-giving price point, but the way the customer shops that category has changed. Within our assortment, there’s an opportunity to amplify lab-created diamonds more in that space.”Signet’s sales of lab-created diamond fashion have risen more than 30%, he noted.

“Unlike the way this dialogue happens with regards to engagement, that’s a good thing, as it pushes [average unit retail] up and helps margin, because it’s a chance for customers to trade up in what they’re buying,” he said. “Lab-grown diamonds make diamonds more accessible to categories of fashion that they didn’t exist in before.”