The Diamond Producers Association (DPA) welcomes the US Federal Trade Commission’s (FTC’s) warning to synthetic diamond manufacturers against misleading consumers with their marketing tactics. It noted that this warning is an important step toward transparency and consumer protection.
DPA stated, “It is now crystal clear that synthetic diamond manufacturers cannot use the word ‘diamond’ without qualifying it with an unambiguous descriptor about the manufactured origin immediately before the word ‘diamond’. It is also clear that the FTC will not tolerate unsubstantiated claims about the environmental impact of synthetic diamonds that violate the FTC’s Green Guides.
“This FTC clarification comes after several months of DPA expressing serious concerns about the deceptive marketing practices by synthetic diamond manufacturers, especially as the market value gap between natural diamonds and synthetic diamonds keeps growing. We are hopeful that it will create more discipline and transparency in the market of laboratory-grown diamonds and will help better protect consumers against misleading claims.”