Steven Singer Jewelers Giving Away 100 Lab-Grown Diamonds
The giveaway is part of a new nationwide campaign from the Philadelphia jeweler promoting natural diamonds.
Philadelphia—Steven Singer Jewelers, the Philadelphia retailer known for its creative ad campaigns, has launched a new campaign stating that it has not and will not ever sell lab-grown diamonds.
However, he will give them away.
The jeweler announced Wednesday that a no-purchase-necessary giveaway of 100, half-carat lab-grown diamonds in a first-come, first-serve manner will take place at the store on Aug. 12 from noon to 2 p.m.
The in-store giveaway is happening alongside the jeweler’s new online promotion that gifts a 1-carat lab-grown diamond with the purchase of a natural diamond engagement ring, which the company has branded “Real Natural Earth Born Diamonds.”
The retailer said the total value of the promotion equals what these diamonds would have been worth five years ago, $3 million.
This includes both the 100 half-carat diamonds it is giving away for free at its store this coming Saturday as well as the 600-plus 1-carat lab-grown diamonds that will be given away as a gift with purchase while supplies last.
“Steven Singer Jewelers doesn’t believe in lab-grown diamonds because they lack what makes Real Natural Earth Born Diamonds so special: the incredible formation over millions, if not billions, of years,” store founder and CEO Steven Singer said.
“There’s been a debate in the industry, but I knew anything that can be mass produced infinitely will rapidly lose value, which is exactly what happened as production scaled. Lab-grown diamond value continues to plummet and I just don’t feel right about selling them knowing they will be worthless one day.”
Both promotions are part of a national campaign based around Singer’s message that lab-grown diamonds “will be worthless someday.”
Plans to promote the new campaign include radio, digital ads and more of its well-known billboards in locations including Philadelphia; New York; Los Angeles; Chicago; Detroit; Dallas; New Jersey; Fort Myers, Florida; Washington, D.C.; and more.
It also includes a debut TV spot, “Hello Dolly,” available to view on its website.
“Diamonds are definitely a girl’s best friend, just like the famous song. It’s no surprise Marilyn Monroe, Madonna and even Britney have shot videos draped in diamonds, but we’re talking about real diamonds,” Singer said.
Singer isn’t the first to build a promotion around giving away lab-grown diamonds or to make a point about the stones' declining value.
Earlier this year, The Clear Cut launched a Travel Ring program.
For each client that buys a natural diamond engagement ring valued over $20,000, the company provides an alternative ring with a complimentary 2-carat lab-grown diamond. The buyer is only responsible for cost of the setting.
Last year at JCK Las Vegas, lab-grown diamond manufacturer Shinebright USA took note of promotions that offered lab-grown diamonds at 97 to 98 percent off the Rapaport Price List.
Shinebright answered with a promotion where, with a purchase, it offered lab-grown diamonds at “100 percent back.”
Also in recent years, even what seems like the least likely brands, including Panera Bread and Pepsi, have participated in the lab-grown diamond giveaway trend.
The Latest
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The branded jewelry market is thriving, said Richemont Chairman Johann Rupert.
The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.