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For years, lab-grown diamond sellers habitually dubbed their products
sustainable and eco-friendly
. However, in 2019, the Federal Trade Commission (FTC) sent letters to several companies warning them not to use those terms.
The issue wasn’t just that the companies provided almost no information about the eco-impact of their processes though that probably didn’t help. It was the language that they used, what the FTC called “general environmental benefit claims,” which are forbidden under its Green Guides.
“It is rare that a product can have an environmental benefit in all the ways that consumers might take away from a general claim,” said FTC attorney Robert Frisby.
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January 29, 2021
When Dan Scott, the founder and brand architect of Luxe Licensing, hears natural and lab-grown diamond sellers take shots at each other, it pains him. Because he has seen this movie before.
In a webinar this week for Gemmological Research Indsustries, Scott, the former chief marketing officer for designer Scott Kay, recounted two past intratrade battles he was involved in: platinum vs. palladium, and cobalt vs. tungsten carbide. He tells
JCK that while both sides enjoyed momentary victories, everyone ended up losing.
When Scott worked for Scott Kay, the late designer whose first love was platinum began dabbling in its then-cheaper alternative, palladium. But not everyone in the industry considered palladium a precious metal.
January 8, 2021
In November, lab-grown diamond company Diamond Foundry opened an office in the Almas Tower in Dubai, United Arab Emirates, which will serve as its international business headquarters.
The office will be staffed by Diamond Foundry vice president of global sales Toby Cruse, a former De Beers exec who joined the company in 2019.
The new office “enables us to have a team on the ground in one of the busiest diamond trading centers in the world,” Cruse said via email.
Cruse said Diamond Foundry set up shop in Dubai because it is “centrally located, has world-class business-friendly infrastructure and communications, and the leadership of the UAE and the DMCC [the Dubai Multi Commodities Centre] embrace technology and sustainability. They have been warmly receptive to Diamond Foundry and made setting up a simple and efficient process. There is a good pool of available talent and the location provides close links and easy access to key customers in Israel, India, a