NEW YORK, March 21, 2018 /PRNewswire/ -- ALTR Created Diamonds, a division of R.A. Riam Group, is revolutionizing the $80 billion diamond and jewelry industry by driving dramatic growth in the new category of lab-created diamonds. Women's Wear Daily (WWD) reported ALTR Created Diamonds increasingly appeals to Millennials as the lab-grown diamond sector is attracting new and young consumers en masse.
Led by Amish Shah, a third-generation diamond and jewelry manufacturer, ALTR Created Diamonds has captured imagination of the modern consumer like never before with its larger carats at better value. In addition to Australia, Germany and Hong Kong, ALTR Created Diamonds are selling around the world in 20 countries, including the United States, EU, China, India, Canada, Thailand, South Korea, Israel, and South Africa.
"The diamond industry has been disconnected with the consumer for a long time now," Amish Shah, President of ALTR Created Diamonds told WWD. "Newer consumers are unable to find any relevance with the marketing message of the industry. The growth of the created diamond industry right now is bi-fold. Right now, we are a $150 million category — we'll be at a billion dollars in three years. This is purely driven by the consumer."
WWD also reported that companies like ALTR appeal to millennials because of its affordable price point for a better product and vertically aligned, transparent business model that meets current customer demands. Consumers can purchase a lab-made diamond free of concern about the origin, as they are naturally conflict-free and sustainable.
"We are bringing choice to the consumer," Shah also told WWD. "If the consumer gets between 30 and 40 percent better value, what that means is they are getting a larger, more beautiful, more brilliant crystal for the same price [as a natural diamond]. Created diamonds are all that a diamond can be — only better. Every ALTR created diamond is a masterfully cut Type IIa diamond, the purest diamond known to man. Imagine holding a diamond as pure as the Koh-i-Noor [diamond] was."
Employing proprietary technology to replicate the conditions whereby diamonds form in nature, ALTR creates diamonds that are identical to chemical, optical and physical composition as the world's finest mined diamonds. WWD continued to report that "sustainability plays a big role in created diamonds' appeal." ALTR uses only a fraction of the energy used to mine diamonds, windmills fulfill the energy requirements for production and all ALTR Created Diamond fine jewelry is made from recycled gold. ALTR Created Diamonds carry certification from Gem Certification and Assurance Lab (GCAL).
With an extensive design archive and more than 22 exclusive, patented diamond cuts, ALTR Created Diamonds offers a full line of rings, bracelets, necklaces and earrings sold under the ALTR brand name. 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.
SOURCE ALTR Created Diamonds