Anish Aggarwal from Gemdax, the moderator of the panels, said that lab-grown diamonds are no longer untested products but have been accepted by consumers; We are not only engaged in diamond business, but also running a technology industry. He called for adjustment of the industry's thinking and product creation methods to increase value through the diversified application of materials and their finished products.

The Lab-Grown Diamond Symposium (Image from DMCC)

In the Panel discussion of Industrial Economics, Liang Weizhang, Senior Strategy Adviser of Crysdiam, said that the industry lacks generic marketing while the technology gradually matures, and the price of lab-grown diamonds continues to fall; at the same time however, we can see that the marginal cost is reaching close to the fixed cost, which indicates that the lab-grown diamond industry is entering a new stage of reform and development. Through collaboration between upstream and downstream, growers and retailers can promote the industry to achieve the second growth curve. Other guest speakers mentioned it is necessary to create value when manufacturing lab-grown diamonds into jewelries.      At the same time, it should be noted that the production cost of lab-grown diamonds is not directly related to its sales price to consumers, and they called on the industry to pay attention to the commercialization of technology, rather than selling based on the cost of materials.

Martin Leake, Special Advisor - Precious Stones of DMCC, accepted an    exclusive interview with Crysdiam, reviewed and summarized the LGDS.