The Grown Diamond Trade Organization (GDTO) has proudly announced its objective to transform the lab-grown diamond business. GDTO intends to bring together growers, manufacturers, and retailers to provide a single voice for the consumer and unify the fast developing lab-grown diamond portion of the jewelry market.
“It is time for lab-grown diamonds to establish their own ecology. The consumer’s message is strong and clear; we must organize to meet the growing demand while boldly distinguishing ourselves from traditional mined diamond organizations.
GDTO addresses concerns about the high expense of traditional diamond reports, especially those for lab-grown diamonds. The new GDTO Jewelry Reports, available only to members, provide dependable and economical certifications for manufacturing processes, quality control, and finished jewelry standards.
“Lab Grown Diamonds are manufactured to strict standards and should be graded accordingly,” said Marty Hurwitz. “Lab Grown Diamonds are grown to precise standards and undergo many quality control processes throughout the process. Sending a grown diamond to a laboratory to ensure its quality after it has been formed is analogous to reopening and tasting every bottle of wine after it has been corked. “It simply does not make sense.”
An advisory group comprised of prominent senior executives from the lab-grown diamond supply chain will help GDTO achieve its mission. The GDTO advisory board consists of Mehul Vaghani, CEO of Kira Jewels, Lani Nguyen, President of Valentina Designs, Suhel Kothari, President of Renaissance Global, David Sherwood, CEO of Daniel’s Jewelers, Dan Schneider, President of Pure Grown Diamonds, Irene Hsieh, CEO of Joy Colori, Bob Golden, President of Allure Gems, and Roger Kylberg, Co-CEO of 2DOT4.
Retailer members will receive a co-op advertising fund, sales associate training materials, consumer and trade public relations support, vendor matching, government lobbying, and capital raising aid. GDTO is also organizing the first lab-grown diamond-only trade fair.