The Diamond Industry Will Shrink to Survive

In this engaging debate, Avi is joined by David Block, CEO of Sarine Technologies, to examine where the diamond industry stands and where it is headed. They unpack the contraction of the natural diamond market, the rise of lab-grown alternatives, and the growing responsibility of retailers to actively stimulate demand.

The discussion moves through manufacturing realities, the shift from volume to value, and the industry’s renewed emphasis on profitability over scale. The conversation closes on a measured but confident view that natural diamonds can reestablish equilibrium as the foundation for sustainable growth.

Takeaways

• The diamond industry is experiencing a significant contraction due to decreased demand.

• Lab-grown diamonds are reshaping the market and manufacturing processes.

• The industry is resizing to align with current consumer demand.

• Retailers play a crucial role in creating demand for natural diamonds.

• Quality is becoming more important than quantity in diamond production.

• Manufacturing lab-grown diamonds is easier and more automated than natural diamonds.

• The natural diamond market needs to focus on profitability rather than just revenue.

• There is a growing need for effective marketing strategies in the diamond industry.

• The future of natural diamonds looks optimistic despite current challenges.

• Finding equilibrium between natural and lab-grown diamonds is essential for industry growth.

Watch the full discussion above.

Diamond Debates is supported by Sarine Technologies.