McKinsey & Company outlined the five critical developments that are shaping the diamond industry in a recent report titled, The Diamond Industry Is at an Inflection Point.
These include:
Customer behavioral shifts
Traceability for ESG
Competition from lab-grown diamonds
Natural diamond supply disruptions
Financial regulations and financing practice
“Change in the diamond industry will not be fast or simple. Open questions remain around how diamond players can build strong business strategies given diamond price volatility, how the natural- and lab-grown-diamond industries will intersect, and who will own the diamond value chain in the future.
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