In China, May 20, also known as 520, is favored by young people because of the homonym "I love you". It has become a hot day for many people to choose to get married. Therefore, recently, it is also a peak season for diamond sales. Natural diamonds have always been popular with consumers, but in recent years, laboratory grown diamonds are also growing rapidly.
Statista, a data provider, estimates that laboratory diamonds now account for less than 4% of the global diamond market, but are expected to grow to 10% by 2030.
In fact, as a representative of the natural diamond industry, De Beers has been opposed to the sale of laboratory diamonds in the past decades, but their attitude turned a corner in 2018, with the introduction of synthetic diamonds and the establishment of Lightbox, a company specializing in the production of laboratory diamonds, with a capital of $100 million. Affected by the epidemic, De Beers last year's diamond sales hit the lowest level in nearly a decade. Now, as the economy recovers and demand for luxury goods rebounds, both natural and laboratory diamonds are trying to compete for consumers.