GDTO Unites the Lab-Grown Diamond Industry to Meet Growing Consumer Demand
The Grown Diamond Trade Organization (GDTO) proudly announces its mission to revolutionize the lab-grown diamond industry. GDTO aims to unite growers, manufacturers, and retailers to create a single voice for the consumer and unify the rapidly growing lab-grown diamond segment of the jewellery market.
“It’s time for lab-grown diamonds to have their own ecosystem,” said Marty Hurwitz, GDTO’s executive director. “The consumer’s voice is loud and clear; we must organize to meet the growing demand and proudly differentiate from the traditional mined diamond institutions.”
Membership Benefits
GDTO addresses concerns about the high cost of traditional diamond reports, particularly for lab-grown diamonds. To address this, GDTO introduces the new GDTO Jewelry Reports, available exclusively to members. These reports offer reliable and affordable certifications regarding manufacturing processes, quality control, and the specifications of the finished jewellery.
“Lab-grown diamonds are manufactured to strict standards and should be graded accordingly,” added Marty Hurwitz. “Lab-grown diamonds are grown to strict tolerances with multiple quality control steps throughout. Sending a grown diamond to a laboratory to verify the quality after it’s produced is akin to reopening and tasting every bottle of wine after it’s corked. It simply doesn’t make sense.”
Beyond the traditional 4Cs, GDTO’s Jewelry Reports will encapsulate the entire finished piece of jewellery, not merely the centre stone. For the first time ever, GDTO will introduce the industry’s first Sustainability Rating, ensuring transparency about the jewellery’s source, conditions, and production.
Advisory Board and Leadership
Supporting GDTO’s mission is an advisory board consisting of key senior executives from across the lab-grown diamond supply chain. The advisory board includes:
– Mehul Vaghani, CEO of Kira Jewels
– Lani Nguyen, President of Valentina Designs
– Suhel Kothari, President of Renaissance Global
– David Sherwood, CEO of Daniel’s Jewelers
– Dan Schneider, President of Pure Grown Diamonds
– Irene Hsieh, CEO of Joy Colori
– Bob Golden, President of Allure Gems
– Roger Kylberg, Co-CEO of 2DOT4
Support for Retailers
Retailer members will benefit from numerous advantages, including access to a co-op advertising fund, sales associate training materials, consumer and trade PR support, vendor matching, government lobbying, and assistance with capital raising. Additionally, GDTO is planning the first-ever lab-grown diamond-only trade show, further solidifying its commitment to advancing the lab-grown diamond industry.
GDTO’s comprehensive approach ensures that all stakeholders, from manufacturers to retailers, are equipped to meet the growing consumer demand for lab-grown diamonds. By providing valuable resources and fostering collaboration, GDTO aims to enhance the visibility and acceptance of lab-grown diamonds in the marketplace.
Interview with GDTO Executive Director Marty Hurwitz
In an exclusive interview with Canadian Jeweller Magazine, Marty Hurwitz shared his thoughts on the importance of GDTO and the future of the lab-grown diamond industry.
Canadian Jeweller: What makes the establishment of GDTO so crucial for the lab-grown diamond industry?
Marty Hurwitz: The lab-grown diamond industry is growing rapidly, and it’s essential to create an organized ecosystem that addresses the unique needs and standards of lab-grown diamonds. Traditional diamond institutions don’t cater specifically to our segment, and consumers are demanding more transparency and reliability. GDTO is here to unify the industry and provide that assurance to consumers.
Canadian Jeweller: How do you see the GDTO Jewelry Reports and Sustainability Rating impacting the industry?
Marty Hurwitz: The GDTO Jewelry Reports and Sustainability Rating are game-changers. They provide detailed and affordable certifications for lab-grown diamonds and entire pieces of jewellery, something that hasn’t been done before. This transparency will boost consumer confidence and highlight the sustainability and ethical advantages of lab-grown diamonds. It’s about creating trust and showcasing the unique benefits of our industry.
Moving Forward
GDTO’s initiatives not only aim to elevate the perception and desirability of lab-grown diamonds but also underscore the commitment to responsible sourcing and educating consumers on the value and impact of their purchases. By aligning their efforts, GDTO is poised to influence the diamond buying decisions of a new, diverse generation of consumers, ensuring that the tradition of choosing lab-grown diamonds for significant life moments continues to thrive.
