World Federation of Diamond Bourses (WFDB) president Mehul Shah discussed his vision for reshaping value across the natural-diamond supply chain, including his belief that mined and synthetic stones can coexist.
Speaking at the Jewellery & Gem World (JGW) Hong Kong show, Shah outlined “strategic pillars” that would help safeguard the natural-diamond industry, the WFDB said Tuesday.
“Natural and laboratory-grown diamonds should be viewed as distinct categories rather than simply competing products,” he explained. “Laboratory-grown diamonds can serve as a gateway to the broader diamond category, with consumers potentially moving towards natural diamonds as their purchasing power increases.”
The WFDB head also called for rigorous consumer protection and clear declarations identifying diamond categories across invoices, certificates, branding and marketing materials, including in local languages. Additionally, the global industry and trade bodies should work with governments to establish and implement appropriate standards, while labs should partner on creating a regulated grading framework.
Meanwhile, Shah proposed a globally registered mark of authenticity for natural diamonds, which would provide consumers with “an immediate” indicator, while reinforcing the distinct identity and credibility of mined stones.
Other pillars included creative marketing that would generate greater value beyond selling diamonds as a commodity; collaborative and traceable participation between miners, manufacturers and markets; reclaiming the industry narrative through strategic alliances and advertising; and creating a more unified industry pipeline.
“The future lies in collaboration,” Shah said. “It lies in authentic storytelling. It lies in technical innovation. It lies in consumer confidence. And above all, it lies in [a] unified industry working together.”
Image: Mehul Shah speaking at JGW Hong Kong. (World Federation of Diamond Bourses)
