'Diamonds Are Forever,' and Made by Machine

In addition, Mr Coe was also at pains to debunk what he called many of the “misleading and bogus claims” around synthetic diamonds: that they are more sustainable alternatives to mined stones, with shorter supply chains and smaller carbon footprints. “Given the pressure required to create lab-grown diamonds, it’s akin to the Eiffel Tower being stacked on a can of Coke,” he said “If you look at the detailed numbers, the energy consumption levels between natural and man-made diamonds are in the same ballpark” This is not the first time De Beers has created brands and advertising strategies in response to disruption in the diamond market since it gave up its monopoly in 2000, abandoning its 60-year policy of controlling supply and demand to concentrate on mining and marketing instead In 2002, after fashion brands such as Dior and Chanel began seriously penetrating the fine jewelry market, selling the importance of their design. More