Cover Fred Jewellery, LVMH’s luxury house, is set to unveil its first sustainable jewellery lab-grown blue diamond in late 2023. (Photo: Fred Jewellery).
Fred Jewellery, LVMH’s luxury house, is set to unveil its first sustainable jewellery lab-grown blue diamond in late 2023. (Photo: Fred Jewellery).
1 / 1
According to Business Research Insights, the global market for luxury sustainable jewellery is forecast to reach $97.8 billion by 2032.
In a study by Princeton University, The Impact of Fast Fashion on the Environment, the environmental cost of fast fashion’s surge in recent decades is revealed. To illustrate, producing a single cotton shirt can require around 3,000 litres of water, while one kilogram of cotton demands up to 10,000 litres during its production.
Much like the fast fashion phenomenon, the mass manufacture of jewellery brings similar environmental concerns. Beyond that, human rights violations remain troubling. To minimise costs, some manufacturers resort to exploitative labour practices, including the use of underpaid workers and, in some cases, child labour. Working conditions in such factories can pose serious health risks, with little to no safeguards in place to protect employees.
You may be interested in: Chopard and the journey to decode the ‘raw beauty’ of nature in the Insofu collection
This has prompted a growing number of consumers to explore “slow fashion”—a movement embracing sustainable values, aiming to reduce harm to the planet and uphold ethical standards throughout the production process.
The big picture of a luxury sustainable jewellery market
Crafting fine sustainable jewellery requires brands to source materials that minimise environmental impact, while encouraging the fashion industry to adopt greener practices and to cultivate fairer, more transparent working relationships.
Rather than relying on traditional mining, many brands are now turning to recycled materials—including gold and silver—helping to limit ecological disruption and reduce the environmental cost of extraction.
Supporting sustainable jewellery also nurtures employment opportunities for skilled artisans and encourages partnerships with small-scale producers and local craftspeople.
An increasing number of luxury houses are growing diamonds and gemstones in laboratories—a process that not only mimics nature more closely but also significantly cuts carbon emissions.
Importantly, research shows that this shift is about more than environmental awareness—it reflects a wider cultural change. As consumers become increasingly discerning, sustainability has emerged as a defining concern. According to McKinsey’s November 2024 report, The diamond industry Is at an inflection point, as today’s luxury buyers seek transparency about the origins of their purchases in order to support sustainable jewellery.
Learn more: When the art of jewellery celebrates the beauty of mechanisation
A recent survey by Angara, a fine jeweller specialising in lab-grown diamonds, found that Gen Z luxury consumers are showing a clear preference for lab-created stones over their natural counterparts. As this generation plays a greater role in shaping industry trends, lab-grown diamonds are poised to become a new symbol of elevated, thoughtful luxury, says Ankur Daga, CEO and co-founder of Angara.
Among the sustainable jewellery houses resonating with today’s consumers is Lark & Berry, a London-based label that has quickly garnered a devoted following. Often described as “diamond disruptors”, Lark & Berry was the first luxury brand to exclusively use lab-grown diamonds and cultured gemstones in its creations.
Alongside maisons championing sustainable jewellery, heritage luxury brands are also embracing this evolution. In October 2023, Fred Jewellery, part of the LVMH stable, unveiled its first lab-grown blue diamond. TAG Heuer, the Swiss watchmaker synonymous with precision and innovation, debuted its first timepiece featuring lab-grown diamonds in 2022. Since then, the brand has continued to explore this terrain, most notably through its Carrera Plasma Diamant d'Avant-Garde line.
Blockchain: the key to boosting the growth potential of a luxury sustainable jewellery market
According to Business Research Insights, the global sustainable jewellery market may reach $97.8 billion by 2032. This growing demand reveals not only a shift in consumer preference but also a redefinition of what luxury truly means.
This reflects the evolving mindset of affluent Millennials and Gen Z buyers. For them, luxury is no longer about opulence for its own sake, but about choices that reflect awareness and social responsibility. A 2023 survey by Delta Global of more than 2,000 high-end consumers across the Asia-Pacific region found that 93 percent would support—and even spend more on—brands that actively promote sustainable values.
In addition to material innovation, blockchain technology is emerging as a crucial tool in the transformation of the luxury jewellery sector. As sustainability climbs higher on the agenda, discerning customers are seeking clarity around the provenance of their purchases. In response, forward-thinking brands are turning to blockchain to provide greater transparency and traceability.
Among the frontrunners is Tracr, a blockchain platform developed by De Beers—the world’s foremost producer of natural diamonds. Since launching in May 2022, Tracr has recorded more than one million rough diamonds at source and a further 110,000 through the production process. By February 2024, it accounted for over two-thirds of De Beers’ global diamond production value.
Wesley Tucker, CEO of Tracr, explained that the platform enables clients to follow a diamond’s journey from mine to masterpiece. He also noted that future developments aim to allow customers not just to trace provenance but to request bespoke elements tailored to their personal tastes.
With innovation leading the way and legacy names taking charge, the fine jewellery world is undergoing a considered transformation—one that meets the modern desire for luxury that is refined, responsible, and rooted in purpose.
