Happily, nothing stopped Pandora from launching a new jewelry line with sustainable synthetic diamonds. Yet, other brands kept a pause in following this example. True entrance of synthetic diamonds into the luxury segment has just started in 2022 when the success of new branded synthetic diamond lines happened and the bonus-bringing effect for the luxury segment became evident.

Why are synthetic diamonds so valuable for famous brands?

The luxury segment is known for exclusive products. Exclusiveness is an equally advantaged and restricting feature at the same time. It does not imply mass production and significantly narrows the field for experimentation; moreover, experiments with exclusive products cost a lot for the business.

Synthetic diamonds which have identical to natural stones’ visual and chemical properties are a good way to shift the accent of the luxury segment from material/status matters to sense-making ones. It can help to minimize financial risks and create a stronger connection between the brand and the modern consumer.

The Company of the luxury segment does not lose anything –neither the aesthetic value of the products nor their quality. Synthetic diamonds spark as brightly as natural gems do; they are certified due to the same standards. Nobody can see the difference between these two without a close look through the jeweler’s microscope. At the same time, the luxury segment is gaining much – accessibility, sustainability, flexibility – all that is consonant with the needs of the consumers.

Madestones marketers have justly resumed that today exclusiveness has a new name – inclusiveness; so luxury brands have no other choice except for becoming inclusive by developing new offers affordable to different buyers with diverse identities and sizes of the wallets.

It is worth admitting that brands are as much needed for synthetic diamonds as synthetic diamonds for brands. Because market tendencies showcase that branding is not only a way to make money and a product’s reputation but is an urgent social need.

People need brands.

What is it for?

Gen-Zers – ethically minded and loving brands

The latest Diamond Insight Report revealed some very interesting insights on the diamond industry’s performance in 2022 and 2023. The report includes a survey involving 18,000 US women, mostly Gen-Zers, who shared how they perceived and engaged with diamond jewelry. Among the others, ethical concern and brand devotion appeared to be the most influential factors that precondition a purchasing choice. So, 36% of women pay special attention to the ethical credentials of the company (or product) when buying diamonds. It is worth admitting that women of the Gen Z generation demonstrated a higher level of ethical thinking than women in general; around 40% of them looked for information about the sustainable orientation of the seller when making a choice.

The new generation of diamond buyers is also more than others devoted to brands. Due to the report, 76% of diamond jewelry purchases made by Gen Z buyers were branded. Just to compare, this figure is 64% for Gen X consumers and twice lower – only 38% – for Baby Boomers. Experts say that it happens because of Gen Zers’ perception of brands as a way of self-expression and self-empowering in a digital age.

Another figure from the report can serve as a confirmation to the expert assumption mentioned above. Around 75% of branded diamond jewelry purchases are made by women who worked in the IT sphere with an income exceeding $150,000. And the brand here is not about economic status but about self-worth.

Brands and the society of “talking heads”

The digital age has brought opportunity but it also set the limits for personal identity. Now it is much more complicated than ever to develop a strategy of self-representation when working remotely, being distanced and isolated from active social interaction. We are today a society of talking heads and such individual potential as personal charisma does not work fully as needed; we cannot practice energy exchange, and the effect of close touch is lost. So, even being very gifted by Nature we have limited opportunities to create a sense of self-worth and find a way of decent self-representation. Brands serve as transmitters of our identity that can tell something about us at the moment when we are talking to people about professional matters or any other subjects.

One can easily track how sustainability and personalization – the Gen-Zers values – are embraced by brands. All the companies, which have shifted their businesses from natural to synthetic diamonds, are reasoning this step with environmental concerns. So, attribute luxury is gaining a new sound and corresponds to high awareness and responsibility.

By the way, social values that preconditioned changes in the senses of the luxury segment and brand reconception, also shaped the list of top purchased items. You may be surprised but earrings are about to be the most demanded product.

“Talking heads” need earrings

Earrings with synthetic diamonds are gaining popularity and approaching occupying leading sales positions. It is a very bright demonstration of how the lifestyle reshapes a consumer’s choice. We live in the times of talking heads – online learning, online working, online dating, and many others “online” replaced live communication. We see only the heads during numerous zooms. One cannot see the rings and bracelets; one cannot notice a necklace but one can definitely see the earrings that are always on the screen.

What had happened with engagement rings?

Indeed, engagement rings are currently synthetic diamond item number one to purchase. Could it be that earrings will be as popular as rings?

The answer is “Yes” and the reason is gender-based values. Currently, we can observe strong feminist tendencies; women are more independent today than ever. It touched their purchasing behavior. The number of self–purchasing women is constantly increasing and they are the core target audience of the brand jewelry companies. Self-purchasing means a more individualized choice that can result in an unexpected decision. For example, the lady can buy earrings for engagement instead of a conventional ring just because this accessory does not carry a sense of “belonging” to somebody as an engagement ring does