DeBeers to leave up mined diamonds?

Is it a boulevard to cannibalise

the mined diamond industry?

De Beers new fashion jewelry foray of Lightbox with

laboratory-grown diamonds will likely hit the mined diamonds!

The launch of lab grown diamonds by de beers shows how insensitive and opportunist this company can be. The company which knew that promotion of lab grown diamonds will cannibalise the mined diamond industry but they still did it. I think strict action needs to be taken for misguiding and misrepresenting the diamonds industry. They have recorded statements and that goes very much against there action. But the point who will.

On the other hand lab grown diamond industry just needed a strong marketing push and here it comes by the  launch of Lightbox by DeBeers to support that. DeBeers is saying that they are going to price it very cheap but it is very unclear on there website.

According to market intelligence, as of today ongoing synthetic diamond market discount is being offered of 32% to the price of natural diamonds, while DeBeers backed brand  Lightbox Jewelry is go aggressively by offering 81% discount to the price of mined diamonds!

They are proposing to sell quarters at 200 dollars for the piece, but they are offering ear studs, it is not clear whether they are taking quarters in each side or total weight?

Secondly, right now, according to U.S. Geological Survey, Paul Zimnisky Diamond Analytics synthetic diamonds total production is estimated of 4.50mn carats. A fraction of mined diamonds. But now with the  current push in marketing the demand will definitely grow.

DeBeers being at the lead will definitely benefit to the industry. Looks like DeBeers also has the intention of leading this industry, which was so far did not even has the proper Association.

I heard on yahoo finance some on connecting that diamond is a SHAM industry. What is RARE . Whatever it is definitely not the diamonds that are rare. By coming into lab diamond business they prove this point. Right now goods from +2 -8 is already costing around 100 USD per carat in polish.

It is almost the bottom and no one can compete that considering Chinese growers strength and pricing strategy. This segment will be particularly be hit in the mined diamonds.