Mined diamonds are becoming more and more expensive, and the prices are all over the place. It is time to shift to Lab Grown Diamonds, says AVR Siddhant of Swarna Mahal Jewellers in a conversation with Suneeta Kaul
Lab Grown Diamonds (LGDs) are no longer a novelty – they have been around for quite a while now, and are increasingly being used in high-end fashion jewellery. Salem-headquartered AVR Swarna Mahal Jewellers has also hopped on to the bandwagon, coming out Evaglow, an exclusive range of jewellery featuring LGDs.
Giving details, AVR Siddhant, Director, AVR Swarna Mahal Jewellers, says, “Of late, there have been disruptions in the supply of natural diamonds. Prices are very high and erratic. Consumers are also shocked at how the prices can go up so much in such a short time. More and more, people are unable to buy mined diamonds. In such a scenario, LGDs fit in perfectly in the new milieu. This is the right time to make a shift to LGD jewellery, and we have seized the moment.”
While LGDs are all the rage in the US, with high-end jewellery designers celebrating them as a sustainable alternative to mined diamonds, it is taking a little while for India to catch up. But it is only a matter of time before the acceptance levels go up.
Adds Siddhant, “LGDs offer so many advantages – just the price is such a huge factor. Anyone can own a diamond, and anyone can wear a solitaire. And within the same budget, you can wear a much bigger, shinier diamond. In the price of a 1ct solitaire of mined diamonds you can buy a 3ct solitaire of LGDs. The affordability is making consumers very happy. Besides, they are earth-friendly – they protect the environment, saving gallons of water.”
Talking about the Evaglow collection, Siddhant says it comprises a daily-wear range, as well as engagement rings. “We are the first to come out with fancy colour diamonds in LGDs. The Evaglow collection has received overwhelming response, and we plan to come out with 10 new collections. We are constantly educating consumers about LGDs, telling them they are 100% real diamonds. I am sure, within the next five years, the market for LGD fashion jewellery will be huge in India.”