Art of Jewellery - JCK Las Vegas responds to the new challenges The Las Vegas trade shows – JCK, Couture, Luxury, and AGTA – were active and positive this year. The annual pilgrimage to the city was engulfed with a positive expectation by diamond traders, retailers, and jewellery wholesalers. While not an exaggerated optimism, or ungrounded feeling that everything is going to be all right, it was an understanding that demand is there, prices are right, and people want as well as need to do business. Like every year, AOJ organised a delegation of more than 30 Jewellery buyers from India for 10th consecutive year. The bombshell that De Beers dropped on the eve of the JCK, namely the announcement that it will market to consumers low-cost fashion jewellery set with lab-grown diamonds sent shockwaves throughout the diamond and jewellery industry. The programme, called Lightbox, surprised the industry. That said, some felt that De Beers erred and by adding lab-grown to its offerings would destroy the natural diamond market. Others agreed with De Beers, saying that by lowering prices of lab-grown so much, it will succeed in creating a clear separation between lab-grown and natural, thus alleviating the threat of lab-grown replacing naturals. Everyone agreed that this is a major gamble that will take years to play out before we know which school of thought prevails. Our cover story talks in detail about each and every angle related to it.