De Beers dismisses synthetic diamonds as a threat

"The amount of synthetics being manufactured for gems is negligible and it is important to note that synthetics are not a threat to the diamond industry or the consumer," said Chipo Morapedi, a Communications Officer at De Beers. De Beers acknowledges that there are many beneficial industrial uses for synthetics such as in laser technology, medical equipment, industrial drill bits and abrasives. 

However, Morapedi says when it comes to diamonds the feedback they have received from consumers is that synthetics could never be a substitute for the genuine article. She revealed that an extensive independent consumer research recently conducted on behalf of De Beers shows that 94 percent of women believe they are worth a diamond.  "Women may buy synthetics as costume jewellery as they do with simulants like cubic zircona, but our research shows that they certainly wouldn't consider them for important occasions."