Despite the challenges of 2023, Cook predicted that 2024 would mark the start of a recovery for natural diamonds, though the rebound is expected to be gradual.
Cook highlighted a notable shift in the market, with lab-grown diamonds experiencing a sharp decline. This downturn has altered retailer incentives, as margins on natural diamonds now far surpass those of lab-grown counterparts, prompting retailers to refocus on natural stones.
ADVERTISEMENT
