Abstract A new opening store in Manila specializes in the sale of laboratory grown diamond products. Thomas Florencio, a three-generation jewelry seller with two chain stores across the Philippines, called T. Florencio Jewelry, will be in November...
A new opening store in Manila specializes in the sale of laboratory grown diamond products. Thomas Florencio, a three-generation jewelry retailer with two chain stores across the Philippines, called T. Florencio Jewelry, will change one of the store names in November, changing It is a Golfina Cultured Diamonds and will sell laboratory grown diamond products.
When the store opens, this traditional brick-and-mortar retailer will be focused on selling lab-grown diamonds. In 2011, D.NEA opened its first diamond store in Greenville, SC, but it is now closed.
Most of the diamonds purchased by Florencia come from the head office of IIa Technologies in Singapore and will also be sold to Gemesis. Most of the diamonds purchased by Florencio range from 0.25 ct. to 2.5 ct., with a color range of 1 to L and a purity of VVS to VS.
“Chemical vapor deposited diamonds are usually low chroma and high purity products, but they can quickly improve the color of the product,†he said. “You will see more and better diamond products every month.â€
He said that sustained and stable production is currently a problem.
"They are machines, but they are always in a natural state," Florencio said. “People think that synthetic diamonds are produced in large quantities, so they will get excellent product quality. But these diamonds are difficult to make. So there are many waste products in our manufacturing process.â€
He said that compared with the sales of natural diamonds, the sales volume of white synthetic diamonds is only about 30% of the former, yellow is only 30% and pink is only 90%.
He said that feedback from all product customers is quite good.
“We didn’t get so many sales barriers,†he said. “People can accept synthetic diamond products, but you have to explain it carefully to each customer. I often hear people say they have never heard of the product.â€
He also felt that the product category lacked marketing tools. He will assist in the establishment of a laboratory growth diamond company and retailer's industry organization to promote synthetic diamond products and negotiate business with large companies.
“There is an industry organization,†he said. "If you want to go to the Internet, search the lab to grow diamonds, there are a lot of difficult things here. This will be a big problem."
He believes that the product catalog will gradually be recognized by people.
“Laboratory diamond products are of course the future of the diamond industry,†he said. “I can't understand why people are so resistant to this product. The industry is looking forward to this product. This will give many people the choice of diamond products.†(Translation: Wang Wei, Moshang.com)
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