Lab Grown Bubble has Burst, says Zerouki
October 30, 25
(IDEX Online) - The lab grown bubble has burst, says Feriel Zerouki, president of the World Diamond Council (WDC), as consumers return to natural stones.
She was speaking at the Angola International Mining Conference (AIMC) 2025, held last Wednesday and Thursday (22 and 23 October) in Luanda.
"I believe that the lab-grown bubble has burst. And actually, there is a movement in the trade, even at retail level, to come back to natural diamonds," she said.
Zerouki (pictured), who is stepping down as De Beers' chief trade and industry officer, said implementing the Luanda Accord was critical in reviving demand for natural diamonds.
In June six African diamond producing nations agreed to invest 1 per cent of the value of their annual rough sales to a global campaign by the Natural Diamond Council, although it has yet to be launched. Angola committed to investing $8m and De Beers said it would match that figure.
Zerouki said lab growns were losing their appeal due to oversupply and said consumer preferences were starting to shift back to natural stones.