A high-end jewelry wholesaler based in New York has announced a significant policy change regarding lab-grown diamonds. Arazi, known for its luxury jewelry targeted at the contemporary and sophisticated woman, stated it will cease supplying retailers who sell lab-grown diamonds.
Josh Arazi, Vice President and Creative Director of the company founded in 1998, emphasized that Arazi will immediately end its support program for businesses that carry or promote lab-grown diamonds. The termination will take effect after a mandatory 30-day notice period.
“We have decided to distance ourselves from retailers selling lab-grown diamonds due to their prices becoming increasingly comparable to CZs,” stated Arazi. “We do not wish to risk our brand’s association with such establishments potentially leading to us being compared to gas stations.”
Arazi, which features items priced from $13,000 to $265,000 on its website, affirmed its commitment to maintaining exclusivity and excellence in fine jewelry. The company stressed its pride in associating with top-tier retailers and luxury products within the industry.
The decision marks a strategic move by Arazi to uphold its brand integrity and market positioning amidst changing dynamics in the jewelry sector.
