Wholesaler Boycotts Retailers Selling Lab Growns
August 01, 24
(IDEX Online) - A high-end jewelry wholesaler in New York says it will no longer supply retailers who sell lab growns.
Arazi says it will terminate its asset/memo support program for businesses carrying or promoting lab growns immediately, with a mandatory 30 days' notice period.
"With the prices of lab-grown diamonds drastically comparable to CZs, Arazi does not wish to wait until jewelers are competing with gas stations to distance ourselves from such stores," said Josh Arazi, the company's vice president and creative director.
Arazi, founded in 1998, describes itself as "a family-run jewelry brand creating the finest pieces for the contemporary and sophisticated woman." A number of items on its website are tagged "price on request". The remainder are priced from $13,000 to $265,000.
"Representing the Arazi jewelry collection alongside lab grown diamonds does not align with our brand's commitment to excellence in fine jewelry," said Arazi. "We take pride in our association with the finest retailers and products in the luxury jewelry industry."
Pic courtesy Arazi.