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Diamnet enters lab-grown diamond market

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Diamond trading platform, Diamnet, has added lab-grown diamonds to its services.

Diamnet already has over 250,000 natural diamonds available from top suppliers across the UK and abroad, so founder, Howard Levine, felt it was a natural next step to add lab-grown diamonds to the offer as well.

He says: “There is a lack of understanding in the UK trade towards laboratory-grown diamonds and Diamnet is in the perfect position to clarify things as we are constantly being asked if lab-grown diamonds can be added without harming the sales of natural diamonds.

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“We say they can. After all, it was not long ago that silver had no place in an independent jeweller and yet where would many be today without it.”

Levine says customers care about the benefits of lab-grown diamonds, so retailers should as well.

“It is true that natural diamonds are still thought of as having investment value, and they do, but millennials do not care about investment,” Levine says. “The inability to get on the housing ladder has changed attitudes forever. Added to that, in an age of social media influencers, the pressure to go larger is stronger than ever and yet natural diamonds are just too expensive for a huge part of the population.

“Many customers want a larger stone than they can afford in a natural diamond. They want what they want right now, and they will buy from whoever offers it to them as long as it is offered in the right way. If a retailer doesn’t offer their customer a solution, they will go elsewhere.”

By offering lab-grown diamonds on Diamnet, jewellers in the UK can test the waters of man-made stones, without having to purchase any stock.

With information at their fingertips 24/7, the Diamnet service allows natural diamonds to be directly compared with their laboratory-grown alternatives and give customers exactly what they require.

“In the past, it fell on the shoulders of the shop owner to decide what their customers could purchase, but in the age of the internet, this isn’t the way anymore. Consumers come knowing what they want and Diamnet makes it easy for a good retailer to meet their client’s demands.”

Diamnet is a free service to the UK retail trade and can be added to a retailer’s website or viewed in store.

Tags : Diamnetdiamond trading platformDiamondsHoward Levinelab grown diamonds
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The author Stacey Hailes

Editor, Professional Jeweller

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