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Lab diamonds are growing in popularity and have become the top choice for thousands of consumers. Head of Product for Ritani, Ria Papasifakis, explained in a live Varney & Co business segment that lab-grown diamonds have become an "affordable entryway" for young couples when purchasing their first engagement rings or even luxury jewelry.
Ria breaks down the difference between lab-grown diamonds and the natural, mined gemstone on The Varney & Co Show on Fox Business here: https://video.foxbusiness.com/v/6320398291112#sp=show-clips
In a recent announcement from MarketsandMarkets™, the projected CVD Lab-grown Diamonds Market will be worth $15.9 billion by 2027.
"As technology improves and consumers further accept lab-grown diamonds as an option, we are seeing these types of diamonds are growing in demand as well," said Ria Papasifakis, Head of Product at Ritani.
Valentine's Day sales this year at Ritani shined a spotlight on the success of lab diamonds in the market. Some interesting takeaways from this year so far include:
- Over 40% of lab-grown diamond purchases identified as female
- Lab-grown heart-shaped diamond pendants rose in popularity
- Tennis bracelets also took lead as popular lab-grown holiday gifts
To view Ritani's lab diamond collection, visit: https://www.ritani.com/pages/lab-grown-diamonds
For more information, visit http://www.ritani.com and follow @ritani on Instagram.
Founded in 1999 by a family of jewelers, Ritani has been making it simpler to purchase high-quality, handcrafted jewelry ever since. Each piece is one-of-a-kind and made to order in New York by expert artisans. Ritani knows diamonds. You know you. Ritani wants to share their extensive jewelry knowledge so you can find the right engagement ring, wedding band, or whatever piece you’re looking for. Ritani is honored to be a part of this exciting time in your life.