This holiday season, LGDs will shine even more brightly. Price is still a major draw for consumers, as a carat of lab-grown diamond (LGD) costs between 60,000 and 70,000 dollars, compared to between 10 and 11 lakh for a genuine diamond.
According to those in the know, even high-net-worth individuals (HNIs) have developed a taste for lab-grown diamonds, which formerly attracted mostly the 18 to 35 age bracket who could not buy genuine diamonds. They claimed that as a result, listed businesses like Senco Gold & Diamonds entered the market this fiscal year in an effort to meet the rising demand. To be sure, the cost of a carat of lab-grown diamond (LGD), which is a fraction of the price of a genuine diamond of 10–11 lakh, continues to be a major draw for consumers.
We are quite optimistic this Diwali season and anticipating sales growth of about 60% year-over-year due to growing customer acceptance of LGD jewellery in India, said Limelight Lab Grown Diamonds creator Pooja Sheth Madhavan of Mumbai.