NEW YORK, July 26, 2018 /PRNewswire/ -- R. A. Riam Group's provocative and exciting new venture ALTR Created Diamonds is thrilled to offer it's comments on yesterday's Federal Trade Commission's (FTC) ruling that has officially clarified that regardless of lab-grown or mined, the technological advances that have contributed to developing created diamonds have essentially the same optical, physical and chemical properties as mined diamonds, thus, they are diamonds.
"We are thrilled that the FTC has officially acknowledged what we have already have known, that created diamonds are real diamonds and the incredible technology that we have invested in has truly been a part of our commitment to offering the consumer a flawless, real diamond," said Mr. Amish Shah, President of ALTR a division of R.A. Riam Group. "As consumers nowadays increasingly demand transparency and clarification on the products they buy and wear, we couldn't be more pleased with this ruling."
ALTR Created Diamonds commends the FTC's choice to issue new guidelines that further clarify what terminology is considered to be deceptive and what is considered non deceptive with regard to naturally occurring diamonds, cultured or manmade diamonds, simulants such as Moissanite and Cubic Zirconia and composites containing diamonds material.
As of July 24, 2018 the definitions as promulgated in "The Diamond Terminology Guidelines" as recently published by the Diamond Producers of America (DPA) are clearly no longer applicable. FTC, in order that the public is better served, has issued new guidance that voids their validity.
Moreover the FTC has rejected the assertion that its guidelines should reflect the ISO or CIBJO Blue Book standards referenced in "The Diamond Terminology Guidelines" it should further be noted that FTC regulations carry the force of law while ISO or CIBJO Blue Book standards do not.
FTC's new definition: A diamond is a mineral consisting essentially of pure carbon crystallized in the isometric system.
The FTC justified their change as follows: The final Guides therefore eliminate the word "natural" from the diamond definition. When the Commission first used this definition in 1956, there was only one type of diamond product on the market—natural stones mined from the earth. Since then, technological advances have made it possible to create diamonds in a laboratory. These stones have essentially the same optical, physical, and chemical properties as mined diamonds. Thus, they are diamonds
§ 23.12 Definition and misuse of the word ''diamond.''
● A diamond is a mineral consisting essentially of pure carbon crystallized in the isometric system. It is found in many colors. Its hardness is 10; its specific gravity is approximately 3.52; and it has a refractive index of 2.42.
● The following are examples of descriptions that are not considered unfair or deceptive:
○ (3) The use of the word "cultured" to describe laboratory-created diamonds that have essentially the same optical, physical, and chemical properties as mined diamonds if the term is qualified by a clear and conspicuous disclosure (for example, the words "laboratory-created," "laboratory-grown," "[manufacturer name]-created," or some other word or phrase of like meaning) conveying that the product is not a mined stone.
● It is unfair or deceptive to use the word ''laboratory-grown,'' ''laboratory created,'' ''[manufacturer name]-created,'' ''synthetic,'' or other word or phrase of like meaning with the name of any natural stone to describe any industry product unless such product has essentially the same optical, physical, and chemical properties as the stone named.
Laboratory grown diamonds of pure carbon crystallized in the isometric system, with a hardness of 10 on the mohs scale, a specific gravity of 3.52 and a refractive index of 2.42 are DIAMONDS but the FTC still requires conspicuous disclosure that the origin is not a mine, accordingly man made diamonds can be called
[manufacturer name]-created Laboratory-created
Cultured diamonds (provided it is clearly and conspicuously clear from the context that the stone is not mined.)
Laboratory-grown, (Some other word or phrase of like meaning) conveying that the product is not a mined stone.) This creates a new freedom for description and advertising of Laboratory-created diamonds.
HOWEVER IT IS CLEAR SIMULANTS MAY NOT BE REFERRED TO AS DIAMOND BY ANY QUALIFIER... This includes moissanite, cubic zirconia and any diamond like material or composite (which is not of pure carbon crystallized in the isometric system, with a hardness of 10 on the mohs scale, a specific gravity of 3.52 and a refractive index of 2.42.)
For example Moissanite may not be called synthetic diamond, created diamond or any other variant incorporating the word diamond.
What does this mean for ALTR
FTC guidelines fully permit the use of "ALTR Created Diamonds" to designate our brand of laboratory grown diamonds, such that we can use "ALTR Created Diamonds" interchangeably with the term laboratory grown diamonds and so can any retailer.
Every ALTR Created Diamond is a Type IIa diamond graded with the highest of standards and carry certifications from Gem Certification and Assurance Lab (GCAL).
DIAMONDS AND LABORATORY CREATED DIAMOND ARE THE SAME MATERIAL... SIMULANTS ARE NOT! UNDER CURRENT STANDARDS AS OF 7/24/2018 SIMULANTS MY NOT BE QUALIFIED OR REFERRED TO AS DIAMOND IN ANY WAY.
Grown vs Mined
DIAMOND IS CRYSTAL CARBON
HOWEVER IF MANUFACTURED
THIS MUST BE DISCLOSED
SIMULANTS ARE NOT CRYSTAL
CARBON AND SHOULD NOT BE
CONFUSED WITH DIAMOND
ALTR Created Diamonds has captured imagination of the modern consumer like never before with its larger carats at better value. ALTR Created Diamonds is now selling all over the world including in the United States, EU, China, Australia, India, Canada, Thailand, South Korea, Israel and South Africa, ALTR Created Diamonds is experiencing aggressive growth and international expansion.
Employing proprietary technology to replicate the conditions whereby diamonds form in nature, ALTR creates certified Type IIA lab grown diamonds that are identical to chemical, optical and physical composition as the world's finest mined diamonds. Because ALTR is vertically aligned, it is the only created diamond house with the supporting infrastructure not only to grow, cut and polish its own supply of Type IIA created diamonds, but also design, manufacture and distribute fine created diamond jewelry. ALTR Created Diamonds carry certification from Gem Certification and Assurance Lab (GCAL).
For more information on the ALTR Created Diamonds, please visit www.ALTR.NYC.
About ALTR Created Diamonds ALTR Created Diamonds are branded lab-grown diamonds created exclusively by RIAM Group. ALTR is solely devoted to creating high-quality diamonds and stunning jewelry designed around these diamonds. The ownership of the parent company RIAM Group has 75 years of experience in the mined diamond industry. RIAM Group has the background and knowledge to bring vertical and integrated manufacturing of created diamonds and jewelry made from those diamonds to an international market. RIAM Group is the only fully vertical manufacturer of both mined diamond jewelry and created diamond jewelry. The ALTR division of the group manufactures only created diamond jewelry.