Diamond Foundry will Explain "Real" to Lab Grown Buyers
March 31, 21
(IDEX Online) - Diamond Foundry says it will no longer describe its lab-gown diamonds simply as "real" on social media, without providing a fuller explanation for consumers.
The US-based company, which boasts actor Leonardo di Caprio among its high-profile investors, has agreed to comply with new recommendations made by the National Advertising Division (NAD) watchdog.
Brand messages for the company's manufacturing brand and its VRAI e-commerce division clearly distinguished their man-made rather than mined origins.
But it challenged social media advertising in which the lab growns were "advertised simply as 'diamonds', without any accompanying description or disclosures identifying the diamonds as LGDs or otherwise indicating the man-made nature of the diamonds".
Diamond Foundry said: "We are pleased with NAD's observation that 'Diamond Foundry's advertising on its website is replete with clear messaging as to the man-made nature of its diamonds and often plainly contrasts its products with mined diamonds... in advertising for both the Diamond Foundry manufacturing brand and the VRAI retail brand.'
"Out of respect for the self-regulatory process, Diamond Foundry will comply with NAD's recommendations."
The company, launched as a startup in 2012 by entrepreneurs Martin Roscheisen and Jeremy Scholz in San Francisco, with backing from 10 billionaires, uses solar technology to create sustainable diamonds.
Pic shows lab grown diamonds being produced at Diamond Foundry