According to my wife, I am a very opinionated person, though I am also curious to hear what you think?
Over the years, De Beers has become synonymous with diamonds.
Their marketing strategies are brilliant and images of the iconic Marilyn Monroe singing Diamonds are a Girl's Best Friend quickly come to my mind.
Natural Fancy Light Yellow Diamond Ring, 4.99ct TW
At that time, De Beers controlled 90% of the world's diamond market. Things have changed since then, however.
After a series of dramatic events, the Oppenheimer family sold its shares to Anglo American. Then Anglo American stock crashed and lost 90% of its value. But yet again they have recovered and seemingly stronger than ever.
The latest news is that De Beers is now venturing into the lab-grown diamond industry and it is mind boggling.
In a statement made by De Beers they see this as an opportunity to develop a commercially successful business in the fashion jewelry category. I wonder what will be next. Pizza?
Natural Diamond Earrings. Would you want anything less?
My question to you, my loyal readers: What do you think about this
dumb courageous move? Will this kind of thinking not undermine the luxury brand of De Beers?
For argument sake, if you have a powerful brand worth $100 and then you add imitations to your brand, which basically have no resell value, you've managed to devalue your main brand by 50%.
All is fair in love and business, though I shudder to think what will happen if companies such as Tiffany & Co., Graff, or Leibish will start selling lab grown diamonds.
One thing I can say for sure is that at Leibish you will receive only the finest quality natural fancy color diamonds. Period.
Leibish Polnauer, President and Founder of Leibish & Co. Fancy Color Diamonds