May 20, 2019

New Representative Body Launched for Lab Grown Diamonds Business Segment

A new association was launched on May 16, 2019 in New York, called The Lab-Grown Diamond Council (LGDC), to serve the needs of that segment of the business, and with a view to setting standards for it.  

One media report says that its mission is to “develop and implement a multi-tiered, international communications programme” and to “promote lab-grown diamonds”. It is “open to lab-grown producers such as growers and equipment manufacturers; suppliers, retailers and associates” the same report says.

Former National Jeweler publisher Chris Casey is the President of the body; while Michael Barlerin, head of the Silver Promotion Service, has been named Chairman.

Media reports also state that the LGDC  is  considering examining ecological issues as well, and “will bring in an outside agency to certify members against certain sustainability criteria”.

Chris Casey has been quoted in one report as saying, “Our intent is to provide members with the tools they need to drive the growth of this revolutionary product.”

The lab grown diamonds segment also has an another representative body, formed in 2016, called the International Grown Diamond Association (IGDA). How the two bodies plan to work together – or not -- is not immediately known, though Casey has been laudatory of the work done by the IGDA. However, currently the two seem to be focussing on different areas: with IGDA having done some lobbying work and the LGDC avowedly pursuing knowledge, communications, promotional  and standard setting objectives.

Pic Cap: Lab-Grown Diamonds  

Pic Courtesy: Helzberg Diamonds