‘Surprise! It’s Synthetic,’ and This Week’s Other News

Trying to Sell a Lab-Grown Diamond as a Natural Diamond (London Jeweller via YouTube)

“A different, shorter version of this video by retailer Dovi Fehler of London Jeweller did the rounds on WhatsApp this week. In this longer clip on YouTube, he explains how he nearly got duped after buying an oval-shaped, 3-carat diamond that turned out to be synthetic. He purchased it from a long-standing business contact, who was unknowingly a victim of fraud himself. This is not a unique case, but it shows the importance of checking and not depending on the reliability of a good vendor.”  

Luxury Brands Are in a Winner-Takes-All Phase (The Wall Street Journal) 

“Economic uncertainty is affecting the revenue of important luxury brands, especially those that target middle-class shoppers. While many companies are reporting very disappointing second-quarter results, others like Hermès are noting growth. In this article, Carol Ryan anticipates that the jewelry segment might hold up, because its products are perceived as more likely to retain their value. Will jewelry brands succeed in embracing quality over beauty? We should follow their next moves in the holiday season.” 

Instore’s Editors Share Outstanding Aspects of This Year’s Cool Store Entries (Instore) 

“While outwardly this story appears to be just a ranking of various cool jewelry stores, I think it’s much more important. Every jeweler has something different to offer its clientele, whether it’s a unique look, an overflowing wine bar, a scenic view or some really creative marketing. But I also think jewelers have something to offer their competition: an idea of how to sell themselves, market themselves and create a unique approach that singles them out. Every jeweler needs to find what makes it different, how it can stand out, and what it has to offer that others don’t. Once that’s established, its clientele will follow. It’s the old: ‘If you build it, they will come’ adage.”  

See Chaumet’s Paris Olympic Medals Inspired by Its High Jewelry (National Jeweler) 

“I’m really impressed by Chaumet’s design for the Paris 2024 Olympic medals. They’ve beautifully merged the elegance of high jewelry with the spirit of the games, while also incorporating Parisian art and culture. The standout feature is the incorporation of original metals from the Eiffel Tower, which adds a unique and personal touch to each medal. It’s a fantastic example of how design can celebrate both tradition and modernity.”