The sin and the punishment time!

 

The sin and the punishment time!

 

Recently, Leibish Polnauer, President-Leibish; focussed on the DeBeers. He analysed and said that, at long last, DeBeers finally admitted that the marketing flop of their own LGD brand called Lightbox was a phenomenal blunder evidenced by staggering losses in 2023 of around $7B.This enormous misstep simultaneously wreaked havoc within the entire diamond trade causing widespread losses.

 

It’s time to move on and let Lightbox produce industrial diamonds now, which will have no impact on the luxury goods sector. The USGS (United States Geological Survey) reports, “Diamonds may well be the world's most versatile engineering material. The superiority of diamonds in so many diverse industrial applications is attributable to a unique combination of properties that cannot be matched by any other material.  For example, a diamond is the strongest and hardest known material and has the highest thermal conductivity of any material at room temperature.”

 

Statista- US Industrial diamond market value 2014-2025, shares its market analysis.  “The market value of industrial diamonds in the United States is forecast to amount to 238.1 billion U.S. dollars in 2025. Overall, industrial diamonds have a low value as gems, but are important in the mining and metalworking industries.”

 

Its industrial application, completely separate from the gemstone niche would be both profitable and free from its negative consequences to the diamond trade. Are LGD producers missing this potential bonanza by not yet pivoting away from jewelry and toward LGDs industrial application?

 

Promoting and restoring the tarnished image of the natural diamond brand is now top a priority. Natural diamonds have long been a symbol of heartfelt sentiments to consumers. The desire to own a real natural diamond rests on its relationship to the eternal commitment couples make, sealed with a stone that is also forever.

 

De Beers CEO Al Cook’s Vegas statements extolled the promotion of the origin of diamonds. But he actually only referred to promoting the DeBeers stones, not the diamond brand at large. Let’s consider a much broader concept instead. Promoting all natural diamonds would reflect on DeBeers own goods much more positively, and it would give the industry a much needed boost in a positive spirit.