This year, when supermodel Anok Yai walked the Met Gala Red Carpet adorning a necklace from Swarovski’s Galaxy Collection with 1,050 Swarovski Created Diamonds, it turned heads and served justice to the brand’s groundbreaking techniques. Similarly, in 2023, the iconic jewellery brand Pandora launched their lab-grown diamond collection in the Danish market, with Pamela Anderson as the face of the campaign. As a result, Pandora emerged as the industry leader in ethical and sustainable diamond jewellery, reaffirming its role as a force of change. With more key players in the luxury market, like PRADA, Lark and Berry, VRAI and Brilliant Earth leading the way with dedicated collections, lab-grown diamonds (LGDs) have emerged as a new-found pinnacle of luxury and innovation.

“Initially, consumers were closed off to LGDs, but the last couple of years have significantly changed the buying patterns due to more awareness,” expresses the creative force behind Amiable Diamonds, Pooja Panani. Not too long ago, the jewellery industry was subject to the revolution of man-made diamonds – scientifically cultivated in laboratories under controlled environments. But even though these stones are not mined from the depths of the earth, LGDs are not entirely faux. They are extracted from real coal under monitored circumstances and are identical to their natural counterparts chemically and with regard to the four Cs – cut, clarity, colour, and carat. 

The imperial stature of diamonds is centuries old; from engagement rings to crowns and necklaces, they have not only been historical symbols of power and strength but also love. With time, their legacy has only continued to thrive. The result? A raging demand for these stones has ultimately made room for innovation and technology that can produce diamonds in a few months as opposed to millions of years. “It is the desire to own grandiose and heavier stones that drives consumers to understand and buy lab-cultivated diamonds,” shares Parag Agrawal, the founder of Fiona Diamonds. 

There was a time when diamonds belonged to locked-up safes, exclusively taken out during special occasions. But today, the focus has shifted towards the practicality of usage, as more women choose to wear diamond jewellery every day as their second skin. Whether it is a solitaire pendant, ring or tennis bracelet, contemporary diamonds are cherished by one and all, leading to a new generation of buyers. “Seventy to eighty per cent of the LGD market consists of the younger generation who don’t want to compromise on design or wearability. They are well aware of the properties of LGDs and want to flaunt them in their daily lives,” observes Pooja. 

But, are lab-grown diamonds the new zenith of precious jewellery?

Even though LGDs mirror natural diamonds in all aspects – composition and character, many shoppers can’t help but feel a sense of scepticism towards their nature. On this side of the median are advocates of quiet luxury who ardently believe in the authenticity and exclusivity of traditional diamonds. Nevertheless, several surveys show that there has been an exponential increase in sales of LGDs between 2010 and 2018. Natural diamonds have been a symbol of ultimate luxury for far and long, but synthetic diamonds have ushered in a more mindful and utilitarian era.

Mined diamonds have always been a woman’s best friend, but the invention of their lab-grown alternatives has made it easier for buyers to own statement-sized stones without breaking the bank. As LGDs keep pushing the boundaries of the industry, it also positions fine jewellery connoisseurs to make a clear choice between age-old practices and modern cutting-edge technology. Time alone will determine if lab-grown diamonds will join the ranks of luxury icons or disappear like many other short-lived inventions.