Inside the Booming Lab-Grown Diamond Business

While the jury is still out about how lab-grown diamonds will fare with consumers, many trade veterans are convinced the stones are the future. In the last few months, Scott Sedlacek, former vice president of merchandising at Reeds Jewelers, joined ALTR Created Diamonds, a New York City–based brand that is now selling at Helzberg Diamonds. Onetime Smyth Jewelers chief operating officer Mark Motes formed Bare Diamond, along with industry marketer Nick Pirie. And industry veteran Daniel Schneider launched his Love Earth line. All are synthetic diamond lines. “I probably see a new lab-grown diamond offer/pitch/ad once a month, from someplace in the world,” says Tom Chatham, one of the pioneers of the created gem market.  The people entering this business say they see opportunity. “In the chain store environment, there is a race to the bottom,” Sedlacek says. “We have convinc

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