The company isn’t the only one seeing big sales from this category: Lab-grown diamond brand Brilliant Earth saw a 15.7 percent net sales increase in 2022, to $440 million.
Dorsey, another exclusively lab-grown jewelry brand, sold over a million stones last year.
Broadening the marketMany consumers plough the savings from buying a lab-grown diamond into more jewelry — a bigger engagement ring, for instance.
Valeria Mongelli/Bloomberg/Getty Images/File“The lab-grown diamond is not in competition with mined diamonds, it’s a complement to mined diamonds,” said Sayed Haider, COO, merchandising and operations at Diamond Nexus, which added a line of lab-grown diamonds to its offering earlier this year.
Lab-grown diamond brand Dorsey sold over a million stones last year.
Persons:
CNN CNN —, Pandora, ”, Pamela Anderson, Dorsey, Tiffany, Lionel Bonaventure, haven’t, Paul Zimnisky, Golan, De, Mary Carmen Gasco, Megan Strachan, Valeria Mongelli, Sayed Haider, “, Strachan, Grace Coddington, Pandora Dorsey, influencers, Bella Hadid, Justin, Hailey Bieber, that’s, Zuo Dongchen, Anderson, Precious Lee, De Beers, Bruce Cleaver, Fred, Ashley Barrett It’s, Shah
Organizations:
The, Fashion, CNN CNN, Diamond District, New, Brands, Cartier, Getty, De Beers, Pandora, Business, Bloomberg, Diamond Nexus, ”, Vogue, Marketing, Publishing, British Fashion Council, Business of Fashion, CNN
Locations:
New York, Astor, Paris, AFP, Zhengzhou, China