A surge in demand for lab-grown stones has weakened a key corner of the diamond market, Bloomberg reported.
But synthetic stones are taking a bigger share of the diamond market.
Lab-grown stones are faster-made, cheaper, and more environmentally friendly alternative to mined diamonds.
Five years ago, synthetic diamonds sold at a 20% discount to natural stones.
"Ultimately," he said, "they are different products and the finite and rarity of natural diamonds is a different proposition."
Persons:
De Beers, Paul Rowley, Rowley
Organizations:
Bloomberg, Diamond, Service
Locations:
Wall, Silicon, India