25-2-2019
De Beers indicates synthetic diamonds wholesale price has slid 60 percent after the launching of its synthetic diamond jewellery brand, Lightbox and yet will continue to drop along with the advancement of technology increase the volume of synthetic diamonds. The diamond giant expects to produce over half a million carats in 2020 after the investment in synthetic diamond factory in Oregon.
The diamond industry’s jaw dropped when De Beers reversed its decades-old policy of selling natural diamonds for jewellery and synthetic diamonds for industrial propose. Bruce Cleaver, CEO of De Beers denied synthetic diamonds affect the price of natural one and said they were different businesses. De Beers will lift its marketing budget for natural diamonds this year. The budget reached the highest in the decade at US166 million last year.
← Back