Diamond industry 'in trouble' as lab-grown gemstones tank prices further
Publishing timestamp: 2024-06-05 12:14:16
Summary
Demand for diamonds has declined, especially in China, due to factors like falling marriage rates, preference for lab-grown gems, and economic conditions. Prices have fallen, and the industry is facing challenges. However, efforts are being made to reignite demand through marketing collaborations and focusing on long-term strategies.
Sentiment: MIXED
Keywords: wealth, anglo american plc, bhp group ltd, business news, luxury,