That diamond in your Christmas stocking might have been grown in a lab
Publishing timestamp: 2023-12-18 09:00:01
Summary
Walmart is expanding its selection of lab-grown diamonds in an effort to cater to value-driven jewelry customers. The company sees an opportunity to sell more fine jewelry, particularly during the holiday season and peak engagement ring purchasing period. Other retailers, such as Signet Jewelers' Jared, are also introducing new products to serve affordable jewelry shoppers. The rise of lab-grown diamonds has allowed Walmart to offer a wider range of items at lower price points. However, the retailer still faces the challenge of overcoming the stigma associated with buying fine jewelry from a discount store.
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Keywords: business, jewelry, signet jewelers ltd, retail industry, pandora a/s, walmart inc, costco wholesale corp, business news, brilliant earth group inc, breaking news: business,
Source: https://www.cnbc.com/2023/12/18/walmart-looks-to-lab-grown-diamonds-this-christmas.html