Will you marry me? When people propose the romantic question, they would mostly hold a natural diamond that cultivated by our mother earth millions of years ago. However, as science and technology developed, consumers now are offered with a new choice – Lab Grown Diamond. It is not to be confused with diamond simulants such as cubic zirconia and moissanite because it has the same chemical composition, physical property and appearance as that of a mined diamond，even professional gemmologists cannot identify it merely by naked eyes or by simple equipment. For a moment the diamond industry is in a panic and a competition between technology and tradition is “shovel-ready”.
CARAXY Diamond Technology is one of the innovators in the lab grown diamond sector. As a member of international grown diamond association, it is one of the earliest companies to promote lab grown diamond with eco-jewelry concept in the world. The company have both CVD diamond and HPHT diamond facilities in China and sells lab grown diamonds from 0.003ct to 3ct sizes. As a major supplier of grown diamond in China, CARAXY knows that trade buyers’ biggest concern is that promoting lab grown diamond may negatively affect their existing natural diamond business. The uncertain consumers acceptance for lab grown diamonds still makes the trade hesitate. To give them enough confidence, in addition to professional jewelry exhibition, CARAXY also proactively participated in the retail marketl, attending many retailing exhibitions such as the China Wedding Fair, competing with famous domestic jewelry brands such as Chow Tai Fu, Chow Sang Sang and Shing House to gain more in-depth market insights and feedback to distributors.
In the past hundreds of years, the conception of diamond industry is based on the scarcity of natural resources, it makes the diamond trade channel very cohesive and exclusive. To tackle the challenge from high technology based lab grown diamond, the diamond mining giants have teamed up to launch a new advertising slogan that “Real is Rare. Real is a Diamond” to show that only the scarce is real and indicate that lab grown diamonds are not real. Diamond traders, too, are organized to declare that they “sell only natural diamonds”. However，a dramatic change is that De Beers，the global leading diamond mining and trading company，recently announced it will start to sell lab grown diamonds and target to take a more advantage position in this fast growing market, regardless of its previous claiming that De Beers will never touch lab grown diamond business in the jewelry sector, the whole diamond industry was shocked.
Leon Guo，CEO of Caraxy diamond technology， who kept promoting lab grown diamonds in China for many years said: “We should melt the iceberg in front of lab grown diamond, with the persistent will, the traditional jewelry trade will definitely embrace lab grown diamonds in some day, the recent behavior change of De Beers is a big milestone for the lab grown diamond industry”. He said. “Lab Grown diamond is irresistible in jewelry market trend because it meets the demands of a new generation consumers as well as our increasing concern on sustainability. “There is a Chinese saying that when there is a will，there is a way, Mr. Guo is a practitioner who is keen on challenges. In 2017, he summited Mont Blanc and inserted the CARAXY flag at the top of the Alps, with a hope that CARAXY will peak in the grown diamond industry one day. Over the past three years, CARAXY has been exploring and promoting grown diamond market under the same unswerving spirit. Dare to be the first, do not fear failure, keep attempting new ways.
In 2016 China International Diamond Industry Summit, Leon Guo said that the value of diamond consists of three parts, namely, its wearing value, financial value and emotional value. With almost a hundred-year’s promotion, natural diamond has made great success in these three parts. However, lab grown diamond has just started. Now, consumers appreciate the wearing value of grown diamond, believing that there is no difference between grown diamond and natural diamond. However, in the construction of financial value and the shaping of emotional value, there is still a long way for grown diamond to go. As time goes by, an increasing number of industry insiders are seeking for grown diamonds and marketing it to specific customer groups. From Las Vegas JCK Jewelry Exhibition and Hong Kong Jewelry Exhibition and other international large jewelry exhibitions we can see that more and more exhibitors are selling lab grown diamonds.
Natural diamond has been in the market for hundreds of years while grown diamond only participated in the market for a few years. It remains to be seen how the future will be shaped by the battle between technology and tradition. Caraxy Diamond Technology, the pioneer of lab grown diamond from China, will keep bringing new experience to the market and recently launch a show in HK June Jewelry Show 2018.