Group 1 - The article discusses the rise and fall of Li Houlin's diamond empire, which was once compared to the "Liu Luanxiong of Mainland China" but has now faced bankruptcy and significant debt [1][3] - Li Houlin opened the first "I Do" diamond store in Beijing in 1999, capitalizing on the booming jewelry retail market in China, which was nearing 500 billion yuan in the early 2000s [3] - The "I Do" brand gained popularity through celebrity endorsements and extensive advertising, becoming a leading choice for wedding rings [3] Group 2 - The decline of "I Do" reflects broader changes in the diamond industry, particularly due to the rapid development of synthetic diamond technology in China [5] - Major players in the natural diamond market, such as De Beers, have also faced significant revenue declines, with De Beers reporting a 21% drop in revenue in the first half of the year [5] - The concept of "scarcity" in natural diamonds, heavily marketed by companies like De Beers, is being challenged by the reality that global diamond reserves exceed one trillion carats [5] Group 3 - The emergence of cultivated diamonds, particularly from Henan, offers a competitive price advantage, with prices being one-tenth of natural diamonds, and a production time of just seven days for one carat [8] - Western diamond giants are concerned about the impact of Chinese-manufactured diamonds on the market, attempting to undermine their credibility by claiming they cannot compete in the high-end market [8] - New brands like "Zheguang" have quickly gained traction in online marketplaces, achieving sales of several million yuan within three months [8] Group 4 - The U.S. Federal Trade Commission's 2018 revision of diamond definitions has leveled the playing field between natural and cultivated diamonds, further legitimizing the latter [10] - Consumer sentiment is shifting, with buyers like Ms. Zhang expressing regret over past purchases of natural diamonds, now favoring larger and more affordable cultivated options [10] - The rise of cultivated diamond technology is expected to bring new vitality and transformation to the diamond industry, creating more commercial value and development opportunities [12]

Core Viewpoint - The EU's ban on diamond trade with Russia has led to a significant decline in Antwerp's diamond industry, marking a severe downturn in the sector [1][3]. Group 1: Impact of EU Sanctions - Antwerp's diamond trade volume has reached a historical low due to the sanctions, with rough diamond imports dropping by 38% in the first three quarters of 2024 [3]. - The vacancy rate in Antwerp's office buildings has risen to 20%, with over 6,000 jobs directly related to the diamond industry lost [3]. - The number of diamond cutters in Antwerp has plummeted from 45,000 to around 400, indicating a severe contraction in the local industry [3]. Group 2: Emergence of Chinese Diamond Industry - China's Zhecheng has emerged as a significant player in the global diamond market, producing 6 million carats annually and holding a 56% market share [5][7]. - Zhecheng's cultivated diamonds have superior quality, with a Mohs hardness of 10 and a price only 20% of natural diamonds, leading to a surge in international demand [7][8]. - The brand "Zheguang Diamond" has gained popularity for its high-quality, customized jewelry, achieving annual sales exceeding 100 million yuan [8][10]. Group 3: Market Dynamics and Future Outlook - The global demand for mid-to-high-end diamonds in Europe and the U.S. is projected to grow at a rate of 12% annually, despite supply chain disruptions [5]. - The EU's sanctions, intended to curb Russian diamond trade, have inadvertently accelerated Antwerp's decline while allowing Chinese brands to transition from manufacturing to brand establishment [10][11]. - The rise of Chinese diamond brands signifies a shift in the competitive landscape, establishing a new era of "Eastern discourse power" in the luxury diamond market [11].

Core Viewpoint - The luxury status of natural diamonds is being challenged by the rise of lab-grown diamonds, leading to significant price drops and demand declines for natural diamonds, prompting De Beers' parent company, Anglo American, to consider selling the diamond empire [1] Group 1: Market Dynamics - Lab-grown diamonds are rapidly capturing market share, with China accounting for 50% of the global lab-grown diamond production capacity as of 2022, and Henan province contributing 80% of that output [3] - The overall market price for natural diamonds has plummeted by 33% in just two years due to the competitive pricing of lab-grown diamonds [3] - Domestic brands like "Zheguang" are emerging quickly, with sales on platforms like JD and Tmall expected to exceed 50 million by the end of 2024, attracting international customers [3] Group 2: Consumer Preferences - Consumers are increasingly favoring lab-grown diamonds due to their superior quality and lower prices, with examples like a 3-carat VVS clarity, 3EX cut, D color princess cut diamond priced under 50,000, which is significantly cheaper than natural diamonds [5] - The perception that lab-grown diamonds can appear more brilliant than natural diamonds is supported by their ability to control quality, making high-quality natural diamonds rare and expensive [7] Group 3: Industry Trends - The lab-grown diamond market is projected to grow steadily over the next five years, with global production expected to exceed 40 million carats by 2030, and China currently holding over 70% of the production capacity [14] - There is a need for increased consumer education regarding lab-grown diamonds to differentiate them from moissanite and cubic zirconia, as well as to enhance brand value and accelerate global expansion to compete internationally [15]