LOS ANGELES, Oct. 18, 2023 /PRNewswire/ -- The glittering world of natural diamonds has experienced a steady decline, marking a notable shift in consumer priorities and preferences. While CNN puts this trend down to consumers spending more on food and travel, Barkev Meserlian, CEO of Barkev's, offers a different perspective, citing the increasing demand for lab-grown diamonds as a key driver for this change. 

A recent CNN report highlights how the diamond market is evolving, linking the dip in natural diamond prices to changing consumer spending habits. However, Barkev's, a renowned name in the jewelry industry for over 40 years, can confirm they have witnessed a profound shift in consumer behavior in 2023.

Approximately 70% to 80% of the engagement rings sold by Barkev's this year were crafted with lab-grown diamonds, while only 20% to 30% were sold with natural diamonds. This significant trend is being driven predominately by consumers in the 23-45 age bracket. The company puts this down to a number of reasons, including cost and environmental considerations.

"We've been in the jewelry business for over 40 years now, selling unique engagement rings through our designer brand Barkev's. We've seen many trends throughout the years, but nothing like this. The demand for lab-grown diamonds is skyrocketing, and young couples are shying away from natural diamonds for many reasons, including the price and the environment. This, I believe, is the reason why natural diamond prices are falling down." - Barkev Meserlian, CEO of Barkev's

The drop in natural diamond prices is opening up a world of possibilities for consumers looking to celebrate their love and commitment to one another with a striking and timeless diamond. Barkev's, renowned and respected for its commitment to innovation and craftsmanship, invites individuals to explore its exquisite and diverse collection of lab-grown diamond rings. These lab-grown diamonds offer the same fire, brilliance and beauty as natural diamonds but with a much more affordable price tag and a more ethical origin.

Barkev's is keen to raise the profile of lab-grown diamonds with consumers who may not have considered an alternative to natural diamonds or who may not know an alternative exists. The company is proud to offer a unique and elegant collection of beautiful jewelry pieces, including lab diamonds, natural diamonds and gemstones.

As the price of natural diamonds continues on its downward trajectory, it's becoming increasingly obvious that consumers are seeking alternatives that match their preferences and values. Barkev's is poised to meet this demand, offering a stunning collection of lab diamond engagement rings.

About Barkev's:

Barkev's is a renowned jewelry brand with over 40 years of experience in crafting exquisite, unique engagement rings and fine jewelry. Known for their commitment to quality, craftsmanship, and innovation, Barkev's offers a wide range of engagement rings, wedding bands and fine jewelry collections to celebrate life's special moments. In addition to its collection of lab diamonds, Barkev's also offers natural diamond and gemstone collections.

SOURCE Barkev's