In 1948, diamond company De Beers launched a marketing campaign with the slogan “A diamond is forever.” Fifty years later, the company created another campaign justifying the price of diamonds with the slogan, “Isn’t two months’ salary a small price to pay for something that lasts forever?”
Now, De Beers is aggressively cutting prices to bring sales up, and you can buy a diamond-making device for $200,000 on Alibaba.
It’s a sign that diamond production is democratizing, reports Ars Technica.
In the past five years, lab-grown gem sales have burgeoned and made the price of mined stones less appealing, according to diamond expert Paul Zimnisky. The lab-grown diamond market was $13
→ Continue reading at Entrepreneur