02 Jul 2022
DiamondWorld Directory
Home |
Real Diamonds are natural No More?
Revised FTC Jewellery Guidelines
By: Diamond World News Service
Oct 22 2018 11:25AM
Reference: 16703  

  • LAB-GROWN,Federal Trade Commission,International Grown
  • Diamond Association,Diamond Producers Association,Jean-Marc Lieberherr,Gems & Jewellery Export
  • Promotion Council,IGDA,Jean-Marc Lieberherr
    The US Federal Trade Commission recently revised the descriptive nomenclature for diamonds. The new guidelines, intended to protect consumers from deceptive marketing, seem inconsistent with ISO nomenclature and are clearly pro lab-grown. The revisions have shocked the mined diamond industry and opened up a Pandora’s Box of accusations with producers of mined diamonds sharply pitted against the lobby for laboratory grown diamonds, besides issuance of parallel guidelines by leading diamond industry organisations that has created more confusion for the hapless consumer. Here is an insight into FTC revisions and what they mean for the US $80 billion global diamond market. By Aasha Gulrajani Swarup

    What is there in a name? Shakespeare may not agree but in these days of suave evolved multi-level marketing, nomenclature can impact erosion in market share and value. It is to protect inventory values and prevent consumer deception that producers of mined diamonds are pitted against the lab grown lobby to protest against the revision of the Jewelry Guides by the Federal Trade Commission, an independent agency of the U.S. Government for consumer protection and prevention of anti-competitive practices.

    The FTC recently revised its Jewelry Guides to prevent deception in jewellery marketing by providing a framework for businesses to avoid making any deceptive claims.

    However, while the revision of the Jewelry Guides by the Federal Trade Commission (FTC) is being termed as a long overdue correction by the labgrown diamond industry, the mined diamond industry, has claimed the revisions are inconsistent with ISO norms, followed by businesses globally, which shall leave the consumer confused and open to marketing deception.

    “With the revised Jewelry Guides, FTC has struck a balance between recognising latest scientific developments of the 21st century and realigning the jewellery industry’s marketing framework to ensure that consumers can make informed decisions ,” said Richard Garard, Secretary General, The International Grown Diamond Association (IGDA).

    After all, as the lab grown diamond industry reiterates the Commission first used the diamond definition in 1956, when there was only one type of diamond - natural stones mined from the earth -in the market. Since then technological advances have made it possible to create in a laboratory, diamonds with the same optical, physical and chemical properties as mined diamonds.

    Garard especially refers to the FTC dropping the word ‘natural’ from the definition of a diamond, that now recognises that diamonds can be cultured on earth, just as below the earth. Or even cautioning marketers not to use the terms ‘real’ or ‘genuine’ to imply that a lab-grown diamond is not in fact an actual diamond. “Lab-grown diamonds are absolutely 100 per cent diamond,” Garard adds.

    Follow DiamondWorld on Instagram: @diamondworldnet
    Follow DiamondWorld on Twitter: @diamondworldnet
    Follow DiamondWorld on Facebook: @diamondworldnet

    First | Previous | 1 | 2 | 3 | 4 | Next | Last | All

    Have Your Say
    * Your view
    * Name:
    * Email:
    * Town/city:
    * Country/State:
    *  Company:
    *  Name:
    *  Mobile:
    *  Email:
    Subscribe for DiamondWorld weekly Newsletter
    Search News by City
    Recent Issue
    News in Pictures
    Young Diamantaires
    Pictures: 16
    Stunning Jewellery from Cannes 2019
    Pictures: 24
    Sparkly Jewels at Oscars 2019
    Pictures: 19
    Golden Globes 2018
    Pictures: 15
    Spotted: Who Wore What (December 2018)
    Pictures: 4
    India Diamond Week
    Pictures: 8
    Spotted: Who Wore What (October 2018)
    Pictures: 7
    Spotted: Who Wore What (September 2018)
    Pictures: 6
    70th Emmy Awards
    Pictures: 11
    35th India International Jewellery Show 2018
    Pictures: 46
    JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
    Views: 31060
    Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
    Views: 8227
    GJEPC Chairman Interview
    Views: 27271
    IJ Jewellers Choice Design Awards 2012 - Part 1
    Views: 37838
    Promo for IJ Awards 2012 at NDTV Profit
    Views: 51790
    IJ Jewellers Choice Design Awards 2012- Part 2
    Views: 65523
    Couture India 2016 - A Business Boutique Show by IJ Magazine
    Views: 21167
    Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
    Views: 49626
    IJ Jewellers Choice Design Awards 2013 - NDTV Video
    Views: 51032
    Finestar Diamonds
    Member of:
    Supporter of: