Lab-Grown Diamonds Cut Into De Beers’ Sales, Deepen Market Troubles
De Beers reported a sharp downturn in its polished-diamond sales as lab-grown stones captured increasing market share. Traditional diamond-mining revenues face pressure from the rapid adoption of lower-cost synthetic diamonds challenging price stability.
1. Diamond Market Weakness
De Beers experienced a notable drop in polished-diamond sales last quarter, reflecting broader consumer reluctance and price softness in rough-diamond auctions. The downturn signals persistent demand challenges for high-end natural gems.
2. Surge of Lab-Grown Stones
Lab-grown diamonds have steadily seized market share by offering lower prices and assured quality, pressuring traditional producers to adjust output and discount rates. This shift is accelerating a repricing cycle across the global diamond supply chain.
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