Now, Synthetic diamonds threaten natural diamonds

 

The diamond industry is currently at a critical juncture! -WFDB  

Recently, World Federation of Diamond Bourses [WFDB] President, Yoram Dvash, expressed about, A United Front for Natural Diamonds! The diamond industry is at a crossroads. In less than a decade, lab-grown diamonds have skyrocketed from obscurity to commanding over 20% of global jewelry sales—a dramatic shift reshaping consumer preferences.  

In the United States, the world’s largest diamond market, the majority of new engagement rings now feature synthetic stones. Prices for lab-grown alternatives continue to fall, and consumers are increasingly unable to distinguish them from their natural counterparts.  

But this is more than just a market trend—it signals a deeper cultural change. The enduring values of rarity, intrinsic worth, and emotional legacy that once defined natural diamonds are being overshadowed. As the essence of what makes a diamond special is diluted, industry leaders are recognizing the urgent need to act.

At the recent World Federation of Diamond Bourses (WFDB) Presidents’ Meeting held in June, a new sense of unity and resolve emerged. For the first time, key players from across the global diamond ecosystem—ranging from mining companies and producing nations to retailers and trade organizations—expressed a shared commitment to restoring the natural diamond’s standing in the public eye.  

Several major initiatives have already taken shape, 1: The Luanda Accord – Signed by African diamond-producing nations and industry leaders immediately after the Presidents’ Meeting, this agreement commits 1% of all rough diamond sales revenue to a global marketing fund managed by the Natural Diamond Council (NDC), aimed at promoting natural diamonds.  

2: De Beers' Strategic Investment – One of the industry's titans, De Beers has pledged substantial investments into educational and marketing campaigns that enhance the desirability of natural diamonds. 3: NDC’s Retail Education Push – Recognizing that informed staff are crucial to driving natural diamond sales, the NDC has launched a new platform to train jewelry sales professionals on the heritage, uniqueness, and emotional significance of natural diamonds.  

4: Retailers Join the Movement – Major chains like Signet and Chow Tai Fook, along with smaller retailers and digital platforms, are ramping up their own promotional efforts to support this global cause. 5: WFDB’s Emotional Storytelling Campaign – Using original video content, the WFDB has rolled out a global campaign emphasizing the timeless emotional connections associated with natural diamonds.  

This collective momentum marks a turning point. The industry finally gets it - that only through unified, well-funded, and emotionally resonant storytelling can natural diamonds reclaim their rightful place as symbols of authenticity, love, and legacy.