Irish Jeweler Diamonds Factory switches most of its online offerings to LGDs
Irish diamond jewelery maker Diamonds Factory has “shifted 70% of its online sales to lab-grown diamonds”, according to a Professional Jeweler Magazine report cited by Rough & Polished.
Although the company has acknowledged that natural diamonds are still more popular, it also claims that diamond prices have increased by 30% in the last three months and that switching to LGDs can save buyers up to 40% . Additionally, Diamonds Factory’s lab-grown diamond sales accounted for 10-15% of its total sales in 2021, but has grown to currently represent approximately 30%.
Ben Stinson, e-commerce manager at Diamonds Factory, said: “Buyers are increasingly concerned about the environment. We’ve had this verbally, we’ve seen it in demand on our website, Google search trends and in the growing demand for knowledge and education. You can also see it in terms of the cost of living right now because people want something that’s more competitively priced, and lab-grown diamonds are a great example of that because they’re chemically identical, which means you don’t lose any of it to the naked eye.”