A new promotional campaign from Bangkok-based manufacturer Universal Chains has become the latest indicator of the ongoing debate around price and perceived value in the lab-grown diamond sector.
Unveiled under its wholesale brand Gen Z Diamonds at the recent Jewellery & Gem World (JGW) trade show in Hong Kong, the company is offering jewellery where customers pay only for the gold, with lab-grown diamonds included at no cost.
Reflecting Shifting Market Dynamics
The offer was advertised with the line: “We only charge for the gold, the lab diamonds are free.” It comes at a time when gold prices remain at historic highs and lab-grown diamond prices continue to fall, driven by oversupply and reduced production costs.
The move mirrors other examples of lab-grown diamonds being used as promotional tools rather than revenue drivers. In August 2023, US retailer Steven Singer Jewelers gave away 600 one-carat lab-grown diamonds with the purchase of a mined diamond engagement ring. At the time, the company stated it would not sell lab-grown stones it believed “will be worthless one day.”
Implications for the Trade
The approach reflects broader market conditions, with lab-grown diamond prices continuing to decline due to increased supply and advances in production. At the same time, gold prices remain at historically high levels.
The increasing use of lab-grown diamond giveaways indicates changes in how these products are positioned within the trade. It may affect how retailers and manufacturers approach pricing, consumer messaging and product segmentation.
These developments could affect how jewellers plan their ranges, set pricing and communicate with customers, particularly in bridal and fashion segments where lab-grown diamonds are most commonly used.
