Indian retailers as this has been identified as the fastest growing jewellery category.
Whilst diamonds retain their special allure with consumers around the world, future demand cannot be taken for granted. We need to ensure that diamonds remain a relevant luxury category. The DPA is well placed to drive this agenda.
The threat of undisclosed synthetic diamonds has the potential to destabilise the entire diamond industry. a. What are the possible long-term solutions to the problem of lab-grown diamonds being mixed surreptitiously with natural ones? b. From a consumer standpoint, how is Rio Tinto ensuring that confidence in diamonds does not decline?
Synthetic diamonds in themselves are a legitimate product as long as they are properly identified and disclosed throughout the pipeline, including at retail. Then it is for us to ensure that consumers value diamonds as the true miracles of nature that they are. In the absence of such large-scale detection, retailers are increasingly going to ask for tracked goods to the mine of origin, and it is important for miners and diamond companies to work together to establish these tracked supply chains, even if we know that they add cost and create complexity.