Page 31 - Forbes - Asia (September 2018)

PROMOTION

How will lab-grown diamonds affect the natural What kind of new products
diamond market? will be possible with this
cultivation technology?
Ishida: Ninety-eight percent of natural diamonds contain What is your business plan
impurities, while lab-grown diamonds are composed entirely going forward?
of pure carbon. There are a lot of inferior-quality diamonds
being sold cheaply, so one effect might be that these stones Ishida: The number of flat gem- According to the Fancy
will disappear from the market, as jewelry made with lab-grown stones that can be convention- Color Diamond Research
diamonds offers a better, reasonably priced alternative. Lab- ally mined are only a few. It’s not Foundation (FCRF), prices
grown diamonds may pose a threat to traders dealing with possible to produce 100 pairs of of blue diamonds rose
natural diamonds, but natural diamonds will still retain their value earrings with natural diamonds 5.5% in 2017, thanks to
as natural products. We’ll have to create different standards of of this shape, but we can make robust demand for colored
value for cultivated diamonds. Actually, lab-grown diamonds may them with lab-grown diamonds diamonds in Asia. Pure
boost the entire market. As we’ve seen in the U.S., shops that because we have the technology Diamond Lab is currently
carry both lab-grown and natural varieties have seen increases to cut diamonds in a way that researching how to produce
in overall sales. reduces carat size while maxi- red, two-toned and rainbow-
mizing surface area. That means colored stones.
Pure Diamond Farm is currently the only company that we will be able to provide
that is combining lab-grown diamond production with more of these kinds of products
blockchain technology. What are the advantages of this? at an affordable price. This is only possible with lab-grown dia-
mond technology.
Abe: With blockchain technology, we’re able to trace the entire
history of a diamond—where it was made, who handled it Abe: It’s the same with colored diamonds. We’re now research-
previously—much like reading the story of a person’s life. In this ing how to produce a rainbow-colored diamond—after all,
way, the product becomes imbued with a different significance. Japan is known for perfecting techniques to bring new, inno-
We were inspired by an IBM project that uses blockchain to trace vative products to market. We already have the technology
natural diamonds in order to ensure that they’re conflict-free, but to produce a pink diamond, so the next step will be to make
we have taken this idea further by using the information to create a red diamond—a naturally occurring object of rarity. Then,
new value beyond the gem’s beauty as an object. We can record we plan to work on a two-toned diamond. The market for
the individual differences of each stone, and this gives consumers fancy-color diamonds is growing, and there is potential for
another reason to buy it. For example, you might wish to purchase further expansion. We will also be able to collaborate with
a diamond that was made on your birthday, or to commemorate designers and make artistic pieces. Really, the possibilities
a special event. are endless.

PROFILES

HIDEYUKI ABE

Born in 1976, Hideyuki Abe is the co-founder of Pure Diamond
Lab, Ltd. He has served as an advisor to Samsung Mpeon
Asia, the Dailan Brothers Record Company and Enterprise
Cruises. In 2015, he became an authorized agent for Chia
Tai Group, a subsidiary of the investment conglomerate
Charoen Pokphand Group. In the same year, he was named
representative director of consulting firm Siam Partners and
continues to wear many hats as the representative director of
Japanese companies Otobotoke and 21Lady.

SHIGY ISHIDA

Born in Tokyo in 1962, Shigy Ishida is the president of Pure
Diamond Co., Ltd. After graduating from Tokai University in
1984, he studied at Tel Aviv University in Israel. In 1986, he
joined the diamond trading company AP, before serving
as a representative for the Antwerp Diamond Exchange in
Belgium. Ishida became the president of AP in 1993. In his
(L-R) Hideyuki Abe, co-founder, Pure Diamond Lab, Ltd; spare time, he enjoys combat sports and became the director
Shigy Ishida, president, Pure Diamond Co., Ltd. of the Japanese Shoot Boxing Association in 2013.