De Beers' synthetics force rivals' prices down 30%

In a remarkable U-turn against an industry it had been fighting for decades, De Beers in May announced it was entering the synthetics production market, as a way of responding to consumer demand for lower priced, fashion stones, while also creating space for natural diamonds to continue being sold at a premium.

De Beers, which is technically capable of producing the most advanced synthetics, announced it would sell its manufactured stones for up to 75% lower than prevailing market prices and would also clearly brand its synthetics.  Synthetics producers read both moves as a power play to take over and crush their market, which for decades has been dependent on marketing synthetics as natural while pricing them at a discount to the natural.