Michael Hill Offers Lab-Grown Collection

RAPAPORT... Australian jeweler Michael Hill has launched a line oflab-grown diamond engagement rings priced at up to AUD 15,999 ($10,920), in aneffort to appeal to a larger consumer base. "We understand that our customers appreciate having genuineoptions when it comes to diamond jewelry - so now...customers will have anadditional choice in diamonds," the company said. The collection, which currently consists of eight solitairerings of varying carat weight, was created by synthetic-diamond producer Fenix. Around brilliant, 1-carat chemical vapor deposition (CVD) ring with a 14-karatwhite-gold band costs AUD 5,999 ($4,095), while a 2-carat stone can run up to $10,920.A similar ring containing a 2-carat mined diamond with an 18-karat white-goldband is listed on the retailer's site for about double the price of its lab-growncounterpart. The line, which Michael Hill is selling on its website andat select stores in Australia, New Zealand and Canada, is its initial offering,it noted. The stones are independently certified by a "world-recognized" gradinglab, the jeweler explained. "Michael Hill will always clearly inform our customers of the type of diamond they are purchasing," the companysaid.  Image: A 2-carat Fenix lab-grown diamond ring. (Michael Hill)