PARIS, October 11 – LVMH, the parent company of renowned natural diamond jeweler Tiffany & Co., is embarking on an intriguing venture by showcasing watches and jewelry featuring lab-grown diamonds to its discerning clientele. This innovative move is a strategic test of the luxury market’s appetite for synthetic stones at the pinnacle of opulence.
In recent weeks, during discreet private appointments at its Paris flagship boutique on Rue de la Paix, LVMH’s prestigious Fred label has been unveiling a new collection of high-end jewelry, constructed around lab-grown diamonds with a remarkable blue hue. This striking hue is designed to evoke the essence of the sea and reflects the nautical heritage of the label, artfully encircling these man-made gems with natural, white diamonds.
One of the standout pieces from this collection is a necklace priced at 240,000 euros ($255,000), featuring a mesmerizing blue synthetic diamond weighing half a carat. Notably, it required years of dedicated research to develop this distinctive color, as stated by the label.
When queried about the possibility of LVMH extending its use of synthetic stones at Tiffany, the group’s Chief Financial Officer, Jean-Jacques Guiony, responded, “Is it a long-term trend that we could develop elsewhere? It’s too early to say.” He emphasized the importance of a careful and considered assessment of the group’s foray into man-made stones.
While LVMH remains steadfast in its promotion of natural diamonds, particularly at Tiffany, some of its subsidiary brands are taking bold strides in embracing lab-grown diamonds. Frederic Arnault, CEO of Tag Heuer and one of the heirs to the LVMH empire, has already integrated these synthetic diamonds into some of the brand’s most exclusive timepieces. Notably, a $90,000 timepiece featuring a 1.3-carat pink lab-grown diamond as its crown was introduced earlier this year.
The incorporation of lab-grown diamonds into luxury products represents an intriguing and evolving dimension in the world of high-end jewelry and watchmaking. While LVMH’s primary focus remains on marketing natural diamonds, especially through Tiffany, this exploration of synthetic stones underscores the group’s willingness to diversify and adapt to changing consumer preferences in the luxury sector.
