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The development of terminal retail of lab-grown diamonds

Post Date: 12 Jul 2022    Viewed: 120


With the continuous expansion and efficiency of lab grown diamonds manufacturers, the active layout of lab grown diamonds retail business by major jewelry brands and the increase of consumer acceptance, the market share of lab grown diamonds will be further increased. In this regard, we are honored to invite Mr. Zhang Dong, Chairman of Yijixuan Jewelry (Chengdu) Co. He shared his insights on diamond brand operation, market positioning and development trend.

During the live broadcast, Mr. Zhang said that it was a coincidence that he entered the lab grown diamonds industry, but he was very optimistic about the future prospects of the lab grown diamonds industry. He believed that, in the future, jewelry leaders such as Chow Tai Fook and Chow Sang Sang will also move into this area, just sooner or later. In addition, Mr. Zhang also made a detailed analysis from the brand operation and market demand of lab grown diamonds.

In terms of brand operation, lab grown diamonds are different from natural diamonds. Many lab grown diamonds brands in the market define lab grown diamonds as affordable luxury jewelry, and then form a differentiated competition with natural diamond engagement rings. However, from the sales feedback of "Dofe Story", at present, lab grown diamonds are mainly wedding diamonds and advanced private customization, among which wedding diamonds account for two-thirds of the sales share, which is why "Dofe Story" chooses to take wedding rings as the main field.

In terms of production process, Mr. Zhang said, "Dofe Story" is doing both HTHP method and CVD method, but from the perspective of consumer preference, HTHP is more popular than CVD, because the diamonds produced by HTHP method are small and the market acceptance is high. However, in the long run, CVD is more favored.

During the live broadcast, Mr. Zhang not only made a wonderful sharing, but also actively interacted with fans in the live broadcast room and answered their questions. Some of the answers are as follows.

Q: India recently equipped with a number of equipment, will this have an impact on the domestic market? What is your opinion?

A: At present, India does have more than 3,000 CVD equipment, and the equipment is mainly used for color alteration.India's industry chain is more complete, and the rough cutting and polishing costs are lower than ours. Our HTHP diamonds production can't compete if they put in a large enough amount of equipment. Regarding coping strategies, I think we can start by improving the industrial chain, such as the field of automated processing.

Q: In the book China's Diamond Revolution, you predict that within two years China will fully accept the change of name from synthetic diamonds to lab grown diamonds. What do you think this means for the development of the jewelry industry?

A: In the minds of Chinese consumers, synthetic is equivalent to fake. If the name is changed to lab grown diamonds, it will weaken the prejudice and disturbance of consumers towards lab grown diamonds, which will be more beneficial to the development of the industry.

Q: What do you think about the serious influx of the lab-grown diamond industry?

A: In fact, every industry has this phenomenon, but it is not necessarily a bad thing. To some extent, more and more players joining can move the industry forward faster. Filter out the poorly competitive enterprises and leave the stronger ones to promote the rapid development of the industry in a healthy competition.

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