Written by Darby Jones

The diamond industry has seen many shifts over the years. The earliest diamonds date back to the 4th century B.C. in India, where they were first mined. Diamonds started appearing in Europe in the 13th century, while they officially came to dominate jewelry and other regalia during the 17th century. Today, diamonds are mined in approximately 25 countries around the world. In addition to the mining industry, a more modern, technologically-enabled approach has appeared over the years, growing diamonds in a lab.

Lab-grown diamonds are made in factories using extreme heat or pressure. Lab-grown diamonds are just as authentic as ‘natural’ diamonds, as they are identical in every way, and they are often less expensive. Furthermore, lab-grown diamonds are widely accepted as the more ethical and sustainable choice. Major jewelry retailer Pandora made headlines in May 2021 when it announced its first-ever, lab-created diamond collection called Pandora Brilliance. The collection was notably more affordable than others in the past, and the pieces were easy and minimalist. “Diamonds are not only forever, but for everyone,” said Pandora’s CEO Alexander Lacik.

Another advocate for lab-grown diamonds is Avi Aranbaiev, founder and CEO of New York-based retailer Liori Diamonds. Aranbaiev believes lab-grown diamonds will eventually take over the industry, pushing earth-mined diamonds to the side. If lab-grown diamonds and natural diamonds possess the same properties, why would the average consumer opt for the more costly option?

Liori Diamonds is leading the charge with its industry-leading selection of luxury jewelry featuring rare lab-grown diamonds. Liori’s specialty is engagement rings featuring uniquely large lab-grown diamonds ranging in size from 10 to 20 to 30 carats and going for a fraction of the price of rings with natural diamonds of comparable size. Liori also offers luxury jewelry with ‘fancy colored’ lab-grown diamonds, rivaling even the most colorful natural diamonds from Africa and Australia. Additionally, Liori’s extensive inventory consists of both lab-grown diamond and natural diamond jewelry in varying styles. Liori’s diamonds are certified by the Gemological Institute of America, the most respected certification in the diamond industry.

As lab-grown diamonds are increasingly more popular with jewelry, the industry is progressing at a rapid rate. To this point, the global lab-grown diamond market was valued at $22.45 billion U.S. dollars in 2022. Illustrating that the industry is here to stay, that figure is expected to reach $37.32 billion by 2028, according to Business Wire. To see what all the hype is about, visit the Liori Diamonds website or Instagram.