Can De Beers enter synthetic diamond market?
source: The Botswana Gazette
Written by AUBREY LUTE
Wednesday, 07 July 2010 00:00
• Synthetic diamonds could be threat to natural gems
• 70% of women would buy synthetic if its cheaper Although there is a significant uncertainty as to how consumers will react to synthetic diamonds because of the current low volumes of production, market research studies suggest that up to 70% of women would accept or buy a synthetic diamond if prices were lower than those of natural diamonds.
The Gazette has learnt that synthetics are likely to be a bigger risk to the fashion segment than the bridal segment.
Experts have warned that the diamond industry would require coordinated action so as to engage in some marketing project geared towards differentiating natural diamonds from synthetics.
As for Botswana, the biggest producer of natural diamonds both by quality and volume, can only hope that De Beers, through its Element Six arm is not encouraged to enter the [continue reading]