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ARE LAB-GROWN DIAMONDS GROWING UP? RETAIL Blue Nile: Creating Physical Presence NRF: Lowers Retail Sales Forecast; Expects Stronger H2 Kate Moss: Heads David Yurman Fall Advertising Campaign POLISHED Ramat Gan: Work Starts On New IDE Manufacturing Center Swatch: Proposes Sourcing Melee In India For Watches De Beers: Introducing New Rough Diamond Sales Model MINING Namdeb: Hopes To Extend Mining License By 15 Years Zimbabwe: May Consolidate Marange Miners Into One Firm Central African Republic: Diamonds Fueling Conflict OPINION Chaim Even-Zohar Goes Back 100 Years To July 1914 And Discusses The Day That Changed The Diamond World Forever www.idexonline.com SEP 14

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ARE LAB-GROWN DIAMONDS GROWING UP?

RETAILBlue Nile: Creating Physical PresenceNRF: Lowers Retail Sales Forecast; Expects Stronger H2Kate Moss: Heads David Yurman Fall Advertising Campaign

POLISHEDRamat Gan: Work Starts On New IDE Manufacturing CenterSwatch: Proposes Sourcing Melee In India For WatchesDe Beers: Introducing New Rough Diamond Sales Model

MININGNamdeb: Hopes To Extend Mining License By 15 YearsZimbabwe: May Consolidate Marange Miners Into One FirmCentral African Republic: Diamonds Fueling Conflict

OPINION Chaim Even-Zohar Goes Back 100 Years To July 1914 And Discusses The Day That Changed The Diamond World Forever

www.idexonline.com

SEP 14

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Editor’s Note

22 | IDEX MAGAZINE • No. 293

A Piece of the Pie Danielle MaxSo, when’s a diamond not a diamond? The answer to that depends a lot on where you stand on the lab-grown versus mined diamond debate. There’s no disputing that a lab-grown diamond is just as much a diamond as one that has spent millions of years evolving in the ground – just ask those diamantaires who are so concerned about lab-grown diamonds being mixed in with natural diamond parcels and going undetected.

The issue, therefore, seems to be not one of what a diamond is made of, but rather what a diamond stands for.

This industry is built on the diamond promise. Diamonds represent true love, true romance and true promise. And to many, only a diamond can be used to validate a relationship.

But really, why is a lab-grown diamond any different? Is creating something in a lab any less “romantic” than digging through tons of dirt? In our fast-moving, high-tech world, there’s something very “now” about lab-grown diamonds, and I can see why they appeal to a certain type of person.

Of course, I also see the appeal of natural diamonds. They really are as old as time and, although more common than we like to admit, they are unique, special and not made to order.

When it comes down to it, the issue of opting for a lab-grown or natural diamond, like so many things in life, is one of personal choice and preference. But this is where the trouble begins.

There seems to be such a fear of lab-grown diamonds in the industry that there is a risk that the element of choice is never actually going to reach the consumer, especially because people seem so intent on vilifying the lab-grown diamond sector. We certainly don’t want lab-grown diamonds to be mixed in with natural diamonds, not because they are bad or inferior, but because full disclosure is necessary in every sector to keep consumer confidence as high as possible. But surely we can educate consumers and then leave it up to them to decide what they want to buy – lab-grown or mined.

Instead of looking at the diamond industry as a medium-sized pizza, it’s time to see it as a large or even extra-large pie, with plenty of toppings and flavors for as many people as possible to enjoy. Think of mined diamonds as the base, and lab-grown diamonds as the anchovies. They are not for everyone, but they are for some people.

What do you think? Please send your thoughts, comments and questions to [email protected].

"But really, why, is a lab-grown diamond

any different? Is creating something in a lab

any less “romantic” than digging through

tons of dirt? In our fast-moving, high-tech

world, there’s something very “now” about

lab-grown diamonds, and I can see why they

appeal to a certain type of person. "

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THE STORYTELLERREENA AHLUWALIA

52 | ARE LAB-GROWN DIAMONDS GROWING UP?

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ARE LAB-GROWN DIAMONDS GROWING UP? | 53

LAB-GROWN DIAMONDS TIME CHART

A team headed by Nobuo Setaka at the National Institute for Research in Inorganic Materials (NIRIM)started developing methods for the rapid growth of diamond at low pressures.

1974

Award-winning designer Reena

Ahluwalia has never been one

to stay in the background of the

diamond industry.

One of her jewelry creations

was featured on a Belgian

postage stamp, she designed a

unique setting for the historic

mace of the province of Ontario

and her award-winning piece

from the De Beers Diamonds

International Award appeared in

the grand finale of the late, great

fashion designer Alexander

McQueen.

Never afraid of innovating,

it should perhaps come as

no surprise that Ahluwalia

has become one of the first

designers to innovate with a

lab-grown collection, which she

debuted earlier this year in Las

Vegas.

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54 | ARE LAB-GROWN DIAMONDS GROWING UP?

THE STORYTELLERREENA AHLUWALIA

Danielle Max: What made you decide to create a collection from lab-grown diamonds?Reena Ahluwalia: I love diamonds! As a designer, I had been looking for sustainable diamond choices for a long time. Lab-grown diamonds fit the bill perfectly. The choice to use lab-grown diamonds is a personal and artistic one and lets me communicate my values through my designs and the diamonds I use to tell my stories.

What prompted your evolving opinion on the subject?As a diamond insider, in the business for many years, my view on this topic has evolved based on the changing consumer, social, environment and my personal values.

I see lab-grown diamonds as an amazing choice for consumers. Now for the first time in human history, there is a choice for your diamond – mined or a lab-grown, both being real diamonds. This is the first time there is also a feasible supply, size and quality of lab-grown diamonds available. What was earlier just a dream is now a reality. The question now becomes, why would one not use them?

Were you afraid that the new brand would “dilute” the luxury and high-end reputation that you have?On the contrary, I am privileged to lead in shaping the diamond industry of tomorrow that presents a sustainable choice to consumers. The Nurture By Reena brand continues my creative journey and takes it a step higher. Each story that I narrate through my designs is created by me, shaped by my evolving values, and reflects the values that I see around me. It’s romantic, it’s meaningful, it’s responsible, it’s personal – that’s what luxury is today.

What do you think the industry is doing wrong when it comes to lab-grown diamonds? Why do you think they are so afraid of them?I have tremendous faith in the diamond industry. I have forged deep relationships and strong networks that I am proud of. It is with this conviction that I know that once the true value, awareness, education and transparency around lab-grown diamonds is well understood, this will be the force that propels the diamond industry to

a bright profitable future. Change is always hard, as it impacts our habits and takes us out of our comfort zone. As our consumer values are changing, we need to ask ourselves what we are doing to change our mindsets to embrace that change.

Where do your diamonds come from?Nurture by Reena proudly features certified lab-grown diamonds sourced from PDC Ltd., Hong Kong.

What was the reaction to your launch at JCK and then at the Hong Kong show?Very positive. In my many conversations I found that retailers today are concerned about differentiation that can get them better margins and success. How do they stand out in the marketplace from the next guy? Everyone who has seen the inaugural Moments Collection right away connects with the concept of jewelry being meaningful, personal and a modern day digital amulet – without too much of an explanation. To me, that is just brilliant!

Did you purposely choose a name that sounds very close to nature for the brand?Nature is what we are born to. Nurture is what molds what nature gave us and makes us who we are. Nurture is what shapes us through experience and time, very much like my own design journey. Hence, “Nurture By Reena.” I thought the name of the brand should reflect our core values and aspirations – to nurture love, dreams, earth and humanity. Something that keeps us focused on creating meaningful and romantic jewelry.

What educational materials, if any, accompany the brand?Nurture By Reena provides a comprehensive printed and digital educational lab-grown diamonds Reference Guide, along with other sales collateral to help retailers and consumers get to know about our jewelry, lab-grown diamonds and brand.

Will you be continuing with the tech side of the line as well?Yes, very much so. In today’s world, technology is pervasive. My belief in using technology in jewelry is that it needs to be seamless and a natural extension of

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"I have tremendous faith in the diamond industry. I have forged deep relationships and strong networks that I am proud of. It is with this conviction that I know that once the true value, awareness, education and transparency around lab-grown diamonds is well understood, this will be the force that propels the diamond industry to a bright profitable future. "

GIA begins issuing synthetic diamond grading reports. 2006

ARE LAB-GROWN DIAMONDS GROWING UP? | 55

LAB-GROWN DIAMONDS TIME CHART

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"I see lab-grown diamonds as an amazing choice for consumers. Now for the first time in human history, there is a choice for your diamond – mined or a lab-grown, both being real diamonds. This is the first time there is also a feasible supply, size and quality of lab-grown diamonds available. What was earlier just a dream is now a reality. The question now becomes, why would one not use them?"

56 | ARE LAB-GROWN DIAMONDS GROWING UP?

THE STORYTELLERREENA AHLUWALIA

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ARE LAB-GROWN DIAMONDS GROWING UP? | 57

LAB-GROWN DIAMONDS TIME CHART

IGI launches lab-grown diamond report.2006

the reasons why people buy jewelry and not the other way round. It should not feel forced or gimmicky.

That is one big differentiation and innovation that we have introduced and are proud to offer in our Moments Collection. It seamlessly combines diamond jewelry with wearable technology and merges style and fashion with deep personal meaning.

Using QR Code technology opens the door to a unique ecosystem that allows you to attach your most precious moments to your jewel. Nurture By Reena brand has its own proprietary “Moments app” that is available for iOS and Android through which this personalization happens. The collection offers layers of differentiation through various degrees of personalization. Each piece is unique, like a fingerprint – starting from the diamond that is individually grown to start its journey of a million years, a unique QR code for each individual piece of

jewelry, and on top of that, the ability to personalize one's unique moments through the jewel to give it the meaning you want.

Do you consider yourself to be a lab-grown diamond brand ambassador?

I am a designer who is passionate about diamonds and creating beautiful and meaningful jewelry that people love to make a part of their lives. That’s all. Lab-grown diamond is a beautiful story and needs to be told.

What is your plan for the brand? What can we expect to see from you?

Our vision is to reach a wider audience, present them with a choice of acquiring truly meaningful and stunning jewelry designs with lab-grown diamonds that are not only sustainable and magical, but great value for money.