DiamondBuzz
U.S. couples spent 5% less on engagement rings in 2024 : The Knot
In recent years, the engagement ring market has witnessed significant changes, particularly in consumer spending and gemstone preferences. According to a report by The Knot, U.S. couples spent approximately 5% less on engagement rings in 2024 compared to the previous year. The average cost of an engagement ring fell from $5,500 in 2023 to $5,200 in 2024, marking a 10% decline from 2022 and a 13% decrease from 2021. This trend aligns with the increasing preference for lab-grown diamond center stones, which, for the first time, accounted for more than half of all engagement rings purchased. The shift towards synthetic diamonds has surged by 40% since 2019, contributing significantly to the downward trend in overall spending on engagement rings.
The rise in demand for lab-grown diamonds is not only reducing costs but also influencing the size of center stones. While the average cost of a natural diamond engagement ring remains at $7,600, couples who opt for lab-grown alternatives tend to select larger stones. In 2024, the average engagement ring center stone measured 1.7 carats, an increase from the 1.5-carat average in 2021. This shift suggests that couples are prioritizing carat size while seeking more affordable alternatives to mined diamonds. Additionally, shape and metal preferences have remained relatively stable, with round and oval cuts being the most popular, and white and yellow gold accounting for over 70% of engagement ring settings. Notably, yellow gold has increased in popularity by 5% year-over-year, while white gold has declined by 3%.
Beyond gemstone and metal choices, setting styles are also evolving. Prong settings continue to dominate, with 35% of respondents selecting this classic option. However, the hidden halo setting—a cluster of diamonds encircling the base of the center stone—has gained traction, capturing 18% of the market and surpassing the traditional halo setting, which saw a decline to 13%. This trend reflects a shift in aesthetic preferences among modern couples who seek a balance between timeless elegance and contemporary design. Moreover, the engagement ring purchasing process has become more meticulous. Over half of proposers spent between one and four months researching and selecting a ring, with a quarter taking even longer. The increase in shopping duration correlates with a rise in the number of jewelers visited. On average, proposers explored five stores in 2024, compared to just two in 2022 and 2023, underscoring the importance of in-person evaluation before making a purchase.
The engagement ring industry continues to adapt to evolving consumer behavior, as financial considerations, ethical concerns, and aesthetic trends shape purchasing decisions. With lab-grown diamonds offering an affordable yet visually identical alternative to natural diamonds, the shift in spending and preferences is likely to persist. As couples become more discerning and invested in the selection process, the future of the engagement ring market may see further innovations and adjustments to meet the needs of modern consumers.
DiamondBuzz
Raw Mango makes its debut at London Fashion Week Presented by De Beers Group featuring Forevermark Diamond Jewellery
The Fall Winter 2026 collection It’s Not About The Flower reinterprets the cultural symbolism of the garland on a global stage, presented by De Beers Group with Forevermark Diamond Jewellery celebrating heritage, provenance and contemporary craftsmanship.
At its inaugural show on an international stage, Raw Mango debuted their Fall Winter 2026 collection It’s Not About The Flower at London Fashion Week. Drawing inspiration from the ubiquitous garland—which is a humble, albeit important part of everyday life in South Asia—the collection blurs the line between decoration and that which is decorated. The focus with this collection shifts from the individual motif to the arrangement, from surface-level engagements to a deeper interrogation of value and beauty, from the flower to the garland.



Talking about the inspiration and emotional core behind the collection, designer and founder of Raw Mango Sanjay Garg says, “Flowers remain an important part of South-East Asia and South Asia. But we don’t really have a culture of giving one individual flower to someone, like, say, a rose on Valentine’s Day.” He continues, “As a culture, we are a country of garlands. Whether it’s a death, a birth, a wedding or a religious ritual, you see garlands, irrespective of the religion. It’s not about one individual flower; it’s about the plurality.”
With the show in London, the brand presents an indigenous idea of fashion that challenges convention and seeks to break away from stereotypes. “There is still a strong association between Indian fashion and a certain kind of aesthetic — heavy gold embroidery, and maximalist ensembles that overwhelm the eye and the body with ‘bling’,” says Sanjay.“Indian fashion is too often quantified – it’s not seen for its innate aesthetic value, but the number of hours it took a weaver to create a garment. It’s a surface-level engagement that sometimes drowns out the beauty of the weave itself.”
The garments and silhouettes offered interpretations of how a garland sits on the body. The flowers themselves were constructed in various non-traditional and silk-like fabrics, assembled or rolled by hand—each placed in delicate arrangements on lightly embroidered brocades, rib-knit cottons, quilted rayon and wool felt. Presented to an audience comprising influential voices across the worlds of fashion, business, entertainment and culture including artist Anoushka Shankar, former first lady of the UK Akshita Murthy, Film Director Gurinder Chadha, Actor Saim Ali, artist Cyrill Ibrahim, artist Lubna Chowdhary, Rahi Chadda, Founder of Openended Design – Suhair Khan, Art Collector and Philanthropist Aarti Lohia, Curator Tarini Malik, Creative Director Nikhil Mansata and Creative & Cultural Strategist Arooj Aftab, It’s Not About The Flower asked to be appreciated on its own terms.

Speaking to the significance of Raw Mango showing at London Fashion Week, Sanjay Garg responds, “Presenting here is as good as presenting in Kanpur for me. At the end of the day, it is the work being presented that matters. And that doesn’t change according to who is viewing it, or where. I’m less interested in defining my audience and more interested in further exploring and articulating my design language that can cater to different audiences that transcends borders and seasons.”
This laser-sharp focus on the work, rather than the accoutrements and requirements of fashion calendars, is what has defined Raw Mango’s approach to textile and culture over the past eighteen years. The brand builds on century-old skills to shape a new aesthetic vocabulary that is both contemporary and deeply rooted in local histories.
For its London Fashion Week presentation of It’s Not About The Flower, Raw Mango was presented by De Beers Group, with Forevermark Diamond Jewellery as the jewellery partner. United by a shared respect for provenance and craftsmanship, the collaboration underscores adornment as an expression of individuality, culture, and personal style.
Commenting on the partnership, Shweta Harit, Global Senior Vice President at De Beers Group and CEO of Forevermark, said: “As the jewellery partner, Forevermark Diamond Jewellery came together with Raw Mango through a shared commitment to authenticity, craftsmanship, and personal expression. Natural diamonds – rare creations of the earth, each inherently unique – reflected the same sense of individuality expressed through Raw Mango’s design language.

Presented by De Beers Group, the collaboration came together as a meeting of heritage, provenance, and contemporary creativity, where adornment felt like a true extension of identity.”
In a season dominated by conversations around conscious luxury and material honesty, the alignment was clear. Heritage is not a trend. Craft is not a spectacle. And like the enduring belief that a diamond is forever, true value lies in what time cannot erode.
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