The Legend of diamond: A Romantic History and the Millennial Redefinition of luxury in love
I recently congratulated a friend on her engagement, and I found myself almost instantaneously exclaiming, “Let’s see the ring!” I wonder... When and how did this otherwise purposeless rock, gain such essentiality to an institution we’ve upheld for centuries?
Even in ancient times, diamonds were revered. The Greeks associated affection and romantic love with the stone; the Hindus attributed the power of protection and good fortune to them; in Europe, they were a symbol of nobility and invincibility for the royal families. The very first diamond engagement ring was given by Archduke Maximillian of Austria to his wife upon their betrothal in 1477. Diamond rings and jewelry continued to be limited to the noble families due to a low and expensive supply during subsequent centuries.
The 1950s marked a pivotal time in the diamond jewelry industry as explorations in Africa boomed and diamonds were made relatively more accessible in a recovering economy. De Beers Group launched their “A Diamond is Forever” campaign that targeted newlyweds and couples. The company analogised the chemical resilience of a diamond with marriage, commitment, and love. By 1979, wholesale diamond sales in the USA grew from $23 million to $2.1 billion. Globalisation grew in the 20th century as well, with strong Western influence across the world. De Beers’ campaign even undid years of tradition; in countries like Japan, where engagement rings did not previously exist, by the 1980s had grown to be the second-largest diamond market in the world.
However, the need for a tangible, physical gift that is emblematic of commitment and love, predates the diamond industry. Indeed, diamond rings were intentionally popularised, but did not do much more than fulfil an existing need in society. There is something to be said about the investment made into the strength, the beauty, and the romance of a real diamond, mined or grown. Today diamond engagement rings are the ultimate symbol of love and allegiance, worn for everyone to see; a marriage incomplete without one. While alternative gem industries can compete with diamonds for trendy jewelry and accessories; when it comes to marriage, a Cubic Zirconia or Moissanite simply will not do.
A newer market seeking to untether traditionalist ideas looks to lab-grown diamonds for their engagements. We are now seeing a segment that still strongly values the diamond ring for marriage, but is looking to re-allocate their finances, valuing sustainability, acknowledging ethical impact and the carbon footprint of their purchases. Lab-grown diamonds look especially attractive in the face of rising inflation and among segments that still view diamonds as aspirational. Lab-grown diamonds are a smaller investment than mined diamonds offering larger and better quality stones for highly competitive prices.
At Itara Jewelry , we’ve seen an uptake in younger customers seeking our Bespoke Engagement Ring service. They strongly advocate that the savings they make on lab-grown jewelry can be invested better in alternative channels; often they want to spend the money on travel, fashion, and experiences or towards their home as newlyweds. The only downfall of a lab-grown ring is the lack of resale value, but in truth, and this may be the romantic in us - an engagement ring should never be bought to be sold.
We foresee the continued stronghold of diamond rings as symbols of eternal love and unwavering commitment - both natural and lab-grown. Itara Jewelry ’s engagement ring collection and services adapt to the millennial market to offer bespoke, one-of-a-kind, socially conscious and budget-friendly pieces in natural and lab-grown variants of the highest quality and craftsmanship. Our aim is to continue fostering our community with shared values for ethics and sustainability, which are strong drivers in the shift to lab-grown diamond engagement rings. We want our clients to be able to celebrate their love ethically, sustainably, and affordably - in a world of changing priorities and widening awareness.
I recently congratulated a friend on her engagement, and I found myself almost instantaneously exclaiming, “Let’s see the ring!” I wonder... When and how did this otherwise purposeless rock, gain such essentiality to an institution we’ve upheld for centuries?
Even in ancient times, diamonds were revered. The Greeks associated affection and romantic love with the stone; the Hindus attributed the power of protection and good fortune to them; in Europe, they were a symbol of nobility and invincibility for the royal families. The very first diamond engagement ring was given by Archduke Maximillian of Austria to his wife upon their betrothal in 1477. Diamond rings and jewelry continued to be limited to the noble families due to a low and expensive supply during subsequent centuries.
The 1950s marked a pivotal time in the diamond jewelry industry as explorations in Africa boomed and diamonds were made relatively more accessible in a recovering economy. De Beers Group launched their “A Diamond is Forever” campaign that targeted newlyweds and couples. The company analogised the chemical resilience of a diamond with marriage, commitment, and love. By 1979, wholesale diamond sales in the USA grew from $23 million to $2.1 billion. Globalisation grew in the 20th century as well, with strong Western influence across the world. De Beers’ campaign even undid years of tradition; in countries like Japan, where engagement rings did not previously exist, by the 1980s had grown to be the second-largest diamond market in the world.
However, the need for a tangible, physical gift that is emblematic of commitment and love, predates the diamond industry. Indeed, diamond rings were intentionally popularised, but did not do much more than fulfil an existing need in society. There is something to be said about the investment made into the strength, the beauty, and the romance of a real diamond, mined or grown. Today diamond engagement rings are the ultimate symbol of love and allegiance, worn for everyone to see; a marriage incomplete without one. While alternative gem industries can compete with diamonds for trendy jewelry and accessories; when it comes to marriage, a Cubic Zirconia or Moissanite simply will not do.
A newer market seeking to untether traditionalist ideas looks to lab-grown diamonds for their engagements. We are now seeing a segment that still strongly values the diamond ring for marriage, but is looking to re-allocate their finances, valuing sustainability, acknowledging ethical impact and the carbon footprint of their purchases. Lab-grown diamonds look especially attractive in the face of rising inflation and among segments that still view diamonds as aspirational. Lab-grown diamonds are a smaller investment than mined diamonds offering larger and better quality stones for highly competitive prices.
At Itara Jewelry , we’ve seen an uptake in younger customers seeking our Bespoke Engagement Ring service. They strongly advocate that the savings they make on lab-grown jewelry can be invested better in alternative channels; often they want to spend the money on travel, fashion, and experiences or towards their home as newlyweds. The only downfall of a lab-grown ring is the lack of resale value, but in truth, and this may be the romantic in us - an engagement ring should never be bought to be sold.
We foresee the continued stronghold of diamond rings as symbols of eternal love and unwavering commitment - both natural and lab-grown. Itara Jewelry ’s engagement ring collection and services adapt to the millennial market to offer bespoke, one-of-a-kind, socially conscious and budget-friendly pieces in natural and lab-grown variants of the highest quality and craftsmanship. Our aim is to continue fostering our community with shared values for ethics and sustainability, which are strong drivers in the shift to lab-grown diamond engagement rings. We want our clients to be able to celebrate their love ethically, sustainably, and affordably - in a world of changing priorities and widening awareness.
