Q&A: How to stock lab-grown diamonds without impacting natural sales
The supplier’s founder, Nathaniel Bendayan, talks business with PJ, including sales, lab-growns versus naturals and jewellery trends.
Q: How is business going?
The demand and value of natural diamonds not only remains strong but seems to have grown exponentially since the start of the pandemic. This has accelerated further in the start of this year, leading to a substantial market price increase as demand has been so great.
NB diamonds propelled itself to a successful 2021 and we hope over the next year we will grow even further.
Q: When it comes to diamonds, do you only work with naturals or lab-growns too? Why?
NB diamonds has years of experience as a natural diamond wholesaler and jewellery manufacturer. Over the last few years we have expanded into the lab-grown market in keeping with the increase in demand in this area.
At NB diamonds we strive to provide a price point for absolutely every client. The lab-grown arm of our business adds another dimension in helping our clients find the right stone in the right budget for their customers.
There really is something out there for everyone, and it is our aim to ensure we can supply it on demand. The lab-grown diamond innovation has just added to the diversity of the diamond jewellery industry as a whole.
Q: How do you ensure your natural products can compete with lab-growns which claim to be cheaper and more sustainable?
Diamonds grown in a laboratory are by very nature a variation of the diamond process and as a differing product it will have a different client base. Likewise, natural diamonds hold their own values and virtues and therefore will supply a different clientelle looking for something else.
They meet different criterion and in effect do not necessarily compete with one another. Natural diamonds hold the superiority of their long-term guaranteed value, while lab-growns, on the other hand, claim to be more economical, ethical and sustainable.
Q: What trends are you seeing in natural diamond and pearl jewellery right now?
Nothing can beat the timelessness and elegance of a classic design, be it a single-stone solitaire or uniform eternity design.
However, what we are seeing as a growing trend is the rise in the revamp of these classic designs, but with a modern twist.
What we have been creating more of is simple designs but with fancy-shaped stones that offer the opportunity for more individuality and variety but with a longevity in its style and design.
The fancy-shaped diamonds add to the romanticised experience of the search for the perfect item of jewellery. The move away from the simple classic to a more innovative design incorporates the contemporary creations with the everlasting look.