Industry Challenge - The diamond industry faces a "huge con" perception regarding diamond purchases [1] - De Beers aims to rescue its brand from an ominous decline [1] Company Strategy - De Beers's chief executive seeks to save a generation of lovers and newlyweds from this perception [1]

De Beers’s chief executive wants to save a generation of lovers and newlyweds from what he calls a “huge con” when it comes to buying diamonds—and in the process rescue his iconic brand from an ominous decline. 🔗 https://t.co/VLdObgeKKN https://t.co/zjEsPfP8vI ...

Industry Overview - Lab-grown diamonds can be produced in 7 days, a stark contrast to the billion years required for natural diamonds [1] - The US sees around 50% of engagement rings now featuring synthetic stones [1] Market Dynamics - China, specifically Hernand province, is estimated to be the origin of 70% of lab-grown diamonds for jewelry [2] - The influx of synthetic stones is dragging down the prices of both lab-grown and small natural diamonds [2] Competitive Landscape - The natural diamond industry is attempting to differentiate itself by labeling synthetic stones as "fakes" and "dupes," but consumer adoption continues [3] - The future of the natural diamond industry is uncertain due to the market saturation of synthetic stones [3]