Richline Group, a wholly owned subsidiary of Berkshire Hathaway, announced that it is partnering with both JCPenney and Macy’s to introduce Grown With Love, LabGrown Diamonds this Holiday Season.
The category of lab-grown diamonds is revolutionising the diamond industry. These stones are, by nature, conflict-free and grown above ground, with clean technology, that works to lessen environmental impact. They also offer value to the consumer, beyond price. For the same price, a lab-grown diamond can be larger or better quality than a mined diamond.
Lab-grown diamonds follow the same grading standards as mined diamonds and are evaluated based on cut, colour, carat and clarity. Richline’s core position is that consumers now have a fifth “c” to consider when purchasing a diamond – Choice.
“What is most interesting and exciting about this category is that it is filling several needs for consumers and aligning with their values. In many cases it offers a higher quality stone for the same money, which is important as expendable incomes are down, people are choosing to spend their money in different ways, and expectations for value are high. This also appeals to a ‘conscious consumer’ who is seeking purchases that ethically align with their beliefs,” said Lindsey Scarlata Woodruff, vice president of marketing at Richline Group.
“By choosing a lab-grown diamond, future bridal and fashion customers now have a new, conscious choice, and can get a larger or higher quality stone for the same price. And with the most popular season for proposals – and shopping – just around the corner, this partnership is destined to shine,” stated Michael Milgrom, senior vice president – product, at Richline Jewelry.
Grown With Love features a curated collection of both bridal and fashion styling. “We believe that lab-grown diamonds are appropriate for every important occasion, and can celebrate both bridal and non-bridal events, even selfpurchase,” said Lindsey Scarlata Woodruff, vice president of marketing for Richline Group. All diamonds in the Grown With Love collection are certified by the International Gemological Institute, which uses a scientific system to evaluate a diamond’s cut and then issues a certificate documenting the characteristics of the stone. The fine jewellery professionals at Richline’s partner retailers including JCPenney and Macy’s will receive dedicated training on the integrity, grading and analysis of these precious lab-grown stones. Consumers will find Grown With Love Educational collateral both in store and online to help them become informed of their new choice. Ramona Genao-Archibald, executive vice president of sales and merchandising for Richline Jewelry added, “We are not making the decision for the consumer, we are providing information so that they can make the choice that is best for them.”
Mark Hanna, Richline Group chief marketing officer, stated, “Richline is proud to be presenting an educated choice. We truly, continually believe in the rarity and romance of mined diamonds. However, the consumer now has an option to judge value and social responsibility as a personal choice.”