Group 1 - Li Houlin, known for his extravagant lifestyle and numerous scandals, founded the "I Do" brand in the early 2000s, capitalizing on the booming Chinese jewelry retail market, which was nearly 50 billion yuan at that time [1] - "I Do" quickly became a popular choice for wedding rings, leveraging celebrity endorsements and aggressive advertising to secure a leading position in the market [1] - However, after 16 years, the brand faced significant challenges, including unpaid salaries, mass layoffs, and store closures, leading to over 6 million yuan in debts and the bankruptcy restructuring of its parent company, Hengxin Xili [3] Group 2 - The decline of "I Do" reflects a broader transformation in the diamond industry, driven by advancements in synthetic diamond technology, with emerging brands like "Zheguang" gaining market traction [4] - Other brands, such as DR Diamonds, also experienced profit declines, with a 20.62% drop in net profit in 2022, while De Beers reported a 21% decrease in revenue despite a 25% price reduction [6] - The perception of natural diamonds as scarce has been challenged, as global diamond reserves exceed 1 trillion carats, and 95% of synthetic diamonds are produced in China, priced at only one-tenth of natural diamonds [6] Group 3 - The U.S. Federal Trade Commission's 2018 revision of diamond definitions has legally equated synthetic diamonds with natural ones, altering market dynamics [8] - Consumers are increasingly opting for synthetic diamonds due to their quality and affordability, as demonstrated by a consumer choosing an 8.23-carat synthetic diamond necklace from Zheguang, which matched the quality of high-end natural diamonds at a third of the price [8] - Zheguang has successfully attracted high-net-worth individuals in major cities, achieving monthly sales exceeding one million yuan on platforms like Taobao and JD, indicating a stable market ecosystem for synthetic diamonds [10] Group 4 - The rise of synthetic diamond technology in China is expected to play a crucial role in reshaping the global diamond market, offering new commercial value and development opportunities [10]

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]