Forbes: LGD and Natural Diamond Industry Ceasefire

Finance and Trade
21/07/2020 07:30

In an in-depth piece, Forbes' Pamela N. Danziger concludes that while official statistics on (diamond) jewelry consumption in the COVID era are scarse, the likely negative effect of the pandemic in the short and medium turn has caused two rivalling segments, the natural and LGD diamond industries, to have ceased hostilities. Interviewing different stakeholders from both sides, including David Kellie, CEO of the rebranded "Natural Diamond Council" (formerly Diamond Producers Association (DPA) and retailers that sell both LGD and natural diamonds, Danziger notes that the positive vibe is welcomed on all sides, and she suggests that shifting from mudslinging back and forth to clear and positive messaging combined with honest and reliable information on both options - more adapted to millennials - could boost the entire industry.