LVMH Makes It Official: Lab-Grown Diamonds Are LuxuryIn 2018, the FTC permitted “a mineral consisting essentially of pure carbon crystallized in the isometric system”
to be described as a “diamond,” whether naturally occurring or man-made. Ever since then, the jewelry establishment has been erecting barriers of entry for lab-grown diamonds into their lucrative
$84 billion global market.With the most to lose,
luxury brands, including Bulgari, Cartier and Tiffany (now an LVMH brand), stood firmly behind that barrier and held only natural diamonds were luxury.
But now the walls have been breached with LVMH Luxury Ventures, along with other investors, having completed a
$90 million investment round in Israel-based Lusix, a pioneer in the lab-grown diamond (LGD) industry.
Lusix joins MadHappy, Gabriella Hearst, Versed and Stadium Goods in
LVMH Luxury Venture’s portfolio. Its investment priorities are clear: seek out brands at the forefront of emerging trends and innovation in the luxury market.
