Paris, the fashion and fine jewelry capital of the world, is embracing a new era of luxury with the rise of lab-grown diamonds. These diamonds have made their mark even in the prestigious Place Vendôme, the home of iconic jewelry brands like Boucheron, Van Cleef & Arpels, Bulgari, and Cartier. This shift is significant considering the importance of high-end jewelry, known as Haute Joaillerie, in Paris. Major fashion houses such as Chanel, Dior, and Louis Vuitton have also established substantial jewelry divisions and retail presences in Place Vendôme.
Interestingly, during the Paris haute couture season, two newcomers in the lab-grown diamond industry have attracted attention. Courbet and Maison Mazarin, both stylish and environmentally conscious labels, have made a name for themselves with their lab-grown diamond collections. Another notable mention goes to Cris Porto, a talented jeweler from Brazil, who celebrated the opening of her first retail space inside the Ritz’s concept store.
The growing influence of lab-grown diamonds has caught the attention of luxury powerhouses, attracting significant investments. LVMH Luxury Ventures, for instance, took a substantial stake in Israeli lab diamond specialist Lusix, participating in a €90 million investor round. Although none of LVMH’s own brands currently use lab diamonds, TAG Heuer has taken the first step with their Carrera Plasma Diamant d’Avant-Garde. In addition, Chanel Corp. acquired a 13% stake in Courbet, valuing the brand at €60 million. Both Courbet and Mazarin are led by dynamic duos who are revolutionizing the industry.
There are several reasons behind the increasing popularity of lab-grown diamonds. These diamonds have a lower environmental impact, a shorter supply chain, and a better cost structure. They provide an alternative to natural diamonds, which are controlled by mining giants such as De Beers, Rio Tinto, and Alrosa. Courbet, for example, uses gold recovered from e-waste, sourced from a closed loop metals supplier in Germany. Their commitment to sustainability is evident in their timeless and audacious designs.
Although lab-grown diamonds are primarily produced in America, there is now a surge in production in France. Courbet has invested in Diam Concept, a French firm that prides itself on the carbon footprint of its one-carat diamond, which is equivalent to that of an espresso. France’s nuclear power plants supply the country with decarbonated power, making it an ideal location for lab diamond production. In contrast, mining natural diamonds requires significant mineral extraction, resulting in a large environmental footprint.
Maison Mazarin, located just 300 meters away from Courbet, is another prominent player in the lab-grown diamond jewelry industry. Founded by Louise de Rothschild and Keagan Ramsamy, Mazarin has already made a mark with its subtle and refined designs. They source lab-grown diamonds from Diam Concept, as well as suppliers from the US and Antwerp. Mazarin meticulously selects DEF colorless diamonds with minimal inclusions to ensure the purity of their pieces. They also recycle gold, and all production takes place in Paris.
Mazarin’s debut collection features an elephant motif, symbolizing memory, luck, strength, and fragility. Their designs embody responsible and ethical luxury, drawing inspiration from art and nature. Additionally, Mazarin supports the Big Life Foundation, an African eco-charity, by donating 10% of the revenue from their silk and chain bracelets adorned with elephant paw charms.
Cris Porto, the talented jeweler from Brazil, has also left her mark in Paris. Her designs incorporate vibrant tourmalines and aquamarines sourced and cut in Brazil, paired with eco-certified white diamonds and gold. Porto’s bold and brilliant designs capture the essence of Brazilian jewelry, known for its vibrant colors and audacity.
The growing popularity of lab-grown diamonds reflects a change in consumer preferences, particularly among younger generations. Traditional mining practices are no longer seen as fashionable, and lab-grown diamonds offer a more sustainable and ethical alternative. Consequently, more and more jewelers are incorporating lab-grown diamonds into their collections.
Paris, with its rich history in fashion and jewelry, is at the forefront of this revolution. Despite some resistance from established jewelry brands, lab-grown diamonds are undeniably here to stay. With their lower environmental impact and innovative designs, brands like Courbet, Mazarin, and Cris Porto are revolutionizing the jewelry industry and paving the way for a more sustainable and ethical future.
Useful Links:
– Courbet (Official Website)
– Maison Mazarin (Official Website)
