Tuesday, June 25, 2024

New Trade Organization Seeks to Unite Lab-Grown Diamond Industry

The newly established Grown Diamond Trade Organization (GDTO) has set out to transform the lab-grown diamond sector by uniting growers, manufacturers, and retailers. GDTO aims to create a cohesive voice for the rapidly expanding lab-grown diamond segment within the jewelry market.

“It’s time for lab-grown diamonds to have their own ecosystem,” stated Marty Hurwitz, GDTO’s Executive Director. “Consumers have made their preferences clear; we must organize to meet the growing demand and distinguish ourselves from traditional mined diamond institutions.”

GDTO will offer exclusive Jewelry Reports to its members, providing reliable and affordable certifications on manufacturing processes, quality control, and finished jewelry specifications. These reports will cover the entire piece of jewelry, not just the center stone, and will introduce the industry’s first Sustainability Rating to ensure transparency regarding the jewelry’s source, conditions, and production.

“Lab-grown diamonds are manufactured to strict standards and should be graded accordingly,” Hurwitz added. “Subjecting a grown diamond to quality verification after production is like re-opening and tasting every bottle of wine after it’s corked. It simply doesn’t make sense.”

An advisory board of key senior executives from the lab-grown diamond supply chain will support GDTO’s mission. Members include Mehul Vaghani, CEO of Kira Jewels; Lani Nguyen, President of Valentina Designs; Suhel Kothari, President of Renaissance Global; David Sherwood, CEO of Daniel’s Jewelers; Dan Schneider, President of Pure Grown Diamonds; Irene Hsieh, CEO of Joy Colori; Bob Golden, President of Allure Gems; and Roger Kylberg, Co-CEO of 2DOT4.

Retailer members will benefit from a co-op advertising fund, sales associate training materials, consumer and trade PR support, vendor matching, government lobbying, and capital raising assistance. Additionally, GDTO plans to host the first-ever trade show dedicated solely to lab-grown diamonds.

Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

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