FTC warning, an important step!
FTC
Warns LGD Manufacturers,
DPA
welcomes!
The
DPA welcomes the FTC’s warning to synthetic diamond manufacturers (LGD) against
misleading consumers with their marketing tactics. This warning is an important
step toward transparency and consumer protection.
It
is now crystal clear that synthetic diamond manufacturers cannot use the word diamond
without qualifying it with an unambiguous descriptor about the manufactured
origin immediately before the word diamond.
It is also clear that the FTC will
not tolerate unsubstantiated claims about the environmental impact of synthetic
diamonds that violate the FTC’s Green Guides.
This
FTC clarification comes after several months of DPA expressing serious concerns
about the deceptive marketing practices by synthetic diamond manufacturers,
especially as the market value gap between natural diamonds and synthetic
diamonds keeps growing.
We are hopeful that it will create more discipline and
transparency in the market of laboratory-grown diamonds and will help better
protect consumers against misleading claims.
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