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100 Lab-Grown Diamond players at JCK 2023

This year the number of LGD producers showing, along with companies that make lab-grown diamond jewels, amounts to 100. “This area of JCK continues to grow larger with each passing year,” Sarin Bachmann, Group Vice President -RX jewelry portfolio notes.

LGDs are increasingly big business. Based on data compiled by Tenoris, which produces trend analytic reports for the global jewelry industry, in the past three years, the market share of lab-grown diamond sales doubled from an average of 8.3% in 2020 to 17.3% in 2022. What’s more, the share of loose lab-grown diamonds tripled from 7.2% in January 2020 to 22.9% in February 2023.

More data pointing to lab-grown diamond’s ascendancy: loose lab-grown diamond unit sales held a share of 13.7% in 2020. Since then, their share nearly tripled to 33.8% in 2022. In February 2023, unit sales of lab-grown diamonds reached the 46.6% mark. Clearly, the LGD realm is doing more than merely disrupting the jewelry industry —it is challenging the traditional notion of how consumers define what a diamond is.

Some of the most intriguing LGD brands showing at JCK include Smiling Rocks, which embodies a socially and environmentally progressive business model by channelling 3 percent from every purchase of its products into the 501 (c)(3) Smiling Rocks Foundation. The customer dictates that donation goes to an educational, medical or environmental charity.

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