Evgeny Agureev

Mem­ber of the Ex­ec­u­tive Com­mit­tee, Di­rec­tor of Al­rosa’s United Sell­ing Or­ga­ni­za­tion

Solitaire - - INDUSTRY INSIGHT -

Be­ing the world’s largest di­a­mond pro­ducer and one of the found­ing mem­bers of the Di­a­mond Pro­duc­ers As­so­ci­a­tion (DPA), Al­rosa hopes that this ini­tia­tive will serve to dif­fer­en­ti­ate nat­u­ral di­a­monds and syn­thetic stones, and em­pha­sise the sta­tus of syn­thet­ics as a sep­a­rate, niche, cheap prod­uct.

In our opin­ion, the mar­ket won’t see the ef­fect from De Beers’ ini­tia­tive im­me­di­ately, it will take sev­eral years. The im­pact on the mar­ket has yet to be as­sessed. But if it leads to prod­uct dif­fer­en­ti­a­tion and a shift of syn­thet­ics into a niche of fash­ion jew­ellery, we can only wel­come it.

How­ever, it can­not be de­nied that this project may po­ten­tially in­crease the de­mand for syn­thet­ics. There is also a risk that the core ideas of nat­u­ral di­a­mond, such as rar­ity, value and deep emo­tional mean­ing, may be de­val­u­ated, es­pe­cially in cheaper cat­e­gories.

I be­lieve that to­day it is nec­es­sary to ac­tively de­velop the work on dif­fer­en­ti­a­tion of th­ese prod­ucts. As the syn­thet­ics be­come more ac­ces­si­ble, it will be nec­es­sary to ex­plain in­ten­sively what the dif­fer­ence be­tween th­ese stones and real di­a­monds is. The in­dus­try should in­form con­sumers that nat­u­ral stone car­ries value and emo­tional mean­ing. It is not a stamped in­dus­trial prod­uct that has no per­son­al­ity and is pro­duced in two weeks. We hope that DPA will fo­cus its work on the dis­tinc­tion in the po­si­tion­ing of nat­u­ral di­a­monds and syn­thet­ics and em­pha­sise all the ad­van­tages of nat­u­ral di­a­monds.

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