Ultra-Wealthy Buying Lab Growns, says Dubai Jeweler

By John Jeffay / January 08, 2024 / www.idexonline.com / Article Link

(IDEX Online) - Even wealthy clients, who can readily afford natural diamonds, are buying lab growns, says the founder of a luxury jewelry brand in Dubai.Fergus James says he sells high-end lab-grown diamond bracelets to wealthy socialites, influencers and Premier League footballers.He says one client, an ultra-high net individual from India, spends over $500,000 a year - all on lab grown rather than mined diamonds.Fergus, who runs Fergus James, formerly known as Dubai Rocks, says the surge of interest in lab growns came after the 2022 Netflix documentary Nothing Lasts Forever. He says that within a month of it first being broadcast demand for lab growns flipped from 5-10 per cent to 80-90 per cent."What came through very quickly was that it wasn't what the diamond industry was anticipating in terms of the general demographic or customer profile they anticipated would buy it," he told Arabian Business."It has actually transpired that the customer profile is just completely non-discriminatory. It's everyone! Even people who've got money, they can afford to buy whatever they wanted."Pic courtesy Fergus James

Recent News

Gold stocks gain even as metal price pulls back

April 29, 2024 / www.canadianminingreport.com

Copper price forecast swinging significantly on shifting outlook

April 29, 2024 / www.canadianminingreport.com

Upgrades continue for 2024 gold price target...

April 22, 2024 / www.canadianminingreport.com

Gold stocks edge up as weak equities offset metal rise

April 22, 2024 / www.canadianminingreport.com

Major investment banks make major gold price upgrades

April 15, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok