The increasing influence of lab-created diamonds in the jewellery market has been noted in several reports this year. Perhaps the most notable was a study completed by The Knot, a wedding planning company based in the US.
A survey of more than 17,000 couples who got married in 2024 revealed that 52 per cent had an engagement ring featuring a lab-created diamond. This was an increase of 6 per cent from the previous year, and 40 per cent since 2019.
Responding to evolving consumer preferences, Diamonds by DGA will launch a collection of pink and yellow fancy colour lab-created diamonds, set in 9-carat gold, at the Sydney Fair this weekend. CEO Phil Edwards said the launch of the collection at the Australian Jewellery Fair on the Gold Coast was well-received.
“There will be a significant assortment of products available to purchase at the International Jewellery Fair, giving retailers the opportunity to choose their preferred products to buy,” Edwards told Jeweller.
“Due to the success of the soft launch of this offering at the Gold Coast show, we’re expanding to offer new designs and more consistent colouring to cater to retail partners.”
Lab-created diamond jewellery was added to the Diamonds by DGA brand in 2022, and Edwards said that reception among retailers has been pleasing since then.
“DGA has been increasingly focusing on finished lab-created jewellery for a number of years, and the past 12 months have seen a dramatic shift, and retailers are now really embracing this category,” Edwards explained.
“Our product assortment focuses on affordable finished jewellery, not competing with custom-made jewellery – our focus is on ready-to-wear essentials and core products that every store needs.
“The beauty of an unbranded product is that it allows the retail partner to manage their own margin and also promote their own store brand and positioning.”
The International Jewellery Fair will take place at Sydney’s International Convention and Exhibition Centre in Darling Harbour, beginning on 23 August.
More reading
Meeting the 'affordable luxury' jewellery challenge
$5,000 worth of pearl jewellery up for grabs
Big Night Out jewellers cruise is fully booked
Nomination rides the wave of personalised jewellery
Changing with the times, staying true to heritage
BECKS ready for the next chapter
Take your jewellery sales to the next level
Soklich & Co. celebrates special anniversary with new products, services, and store