ALL SIGNET JEWELERS BANNERS IN U.S. NOW SELL SYNTHETICS
Based on research from Rob Bates of JCK Magazine, the United States’ largest retailer of diamond jewelry, Signet Jewelers, is now selling laboratory-grown diamonds at all its major U.S. jewelry banners. These include Kay, Jared and Zales, as well as their online site James Allen, which was already selling them. David Bouffard, Vice President, Corporate Affairs, told Bates that the sythetic diamonds will be available in bridal as well as fashion jewelry. Jared is selling loose lab-grown diamonds and ring settings as part of its Chosen collection.
An interesting obseveration from Bates is that Signet will not be accepting synthetics for trade-in, pointing out the uncertainty of their long-term value. According to ad copy Bates shares with his readers, Signet says the natural supply of diamonds is “finite and rare,” while the lab-grown supply is “potentially unlimited.” The Zales site reads, “We believe that diamonds are right for everyone, but everyone may have a different idea as to which diamond is right for them.” As Bates notes, “Zales currently lists two dozen man-made diamond pieces, ranging in price from under $1,000 to around $7,500.” De Beers’ efforts to erode the price of lab-grown diamonds by offering all its synthetic stones at the price point of $800 per carat to this point seems to have had a limited impact on the wider market.