Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    From Armenia to America, Motif Jewelers Turns 40
    Girl Power rocks at Jo & Co. Jewelers
    Jewelry Sales Training from a Living Legend
    Jewelers Look to Modern Tech for a Profitable Future
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Sponsored Content
    • Tradeshow News
    • Video
    • What's New
    Luxury watch preferences among high-income women in the USATHE MV
    Columbia Gem House’s Jewelry for Wildlife fundraiser raises over $12,000
    GIA global research team convenes in Carlsbad
    Synchrony study reveals shoppers value in-store experiences, financing options for large purchases
    jewelers Security Alliance logo
    JSA reports surge in crimes against traveling salespersons and retailers not in retail stores
    CG Creations presents comprehensive Gold & Silver Almanac 2024
    Free and Festive Holiday Marketing from GN Diamond
    Free and Festive Holiday Marketing from GN Diamond
    Anna Martin to retire from GIA
  • Podcast
    The Jewelry Business Scorecard with JBT Experts
    Ep 53 – Jim Rocchio and Brenda Gamba, The Jewelry Business Scorecard with JBT Experts
    Ep 52 - Giving Thanks in Pearls, Our Thanksgiving Special Edition
    Ep 52 – Giving Thanks in Pearls, Our Thanksgiving Special Edition
    Ep 51 – Shelia Bayes, Making E-Commerce Accessible to Jewelers with Gem + Jewel 
    Ep 51 – Shelia Bayes, Making E-Commerce Accessible to Jewelers with Gem + Jewel 
    Stories, Trends, and Expert Insights from Snowden Jewelers
    Ep 50 – Chris Snowden, Stories, Trends, and Expert Insights from Snowden Jewelers 
    SoHo Success at the Atlanta Jewelry Show
    Ep 49 -Amy and Fran, SoHo Vibes, SoHo Success at the Atlanta Jewelry Show 
    The-Third-Generation-Fine-Jewelry-Expert_-Katelynne-Eslick-
    Ep 48 -Katelynne Eslick, The third-Generation Fine Jewelry Expert
    Long Jewelry Empire of Rembrandt Charms
    Ep 47 -Eric Lux, From Coop to Decades-Long Jewelry Empire of Rembrandt Charms 
    The Expert’s Guide to Jewelry Laser Technology of B&D Sales
    Ep 46 -Jacob Dupuis, The Expert’s Guide to Jewelry Laser Technology of B&D Sales
    Ep 45 -Andreas Argentinis, The Fine Personalized Jewelry Standard of Metal Pressions
    Ep 45 -Andreas Argentinis, The Fine Personalized Jewelry Standard of Metal Pressions
  • Columnists
    The Story Behind the Stone: Lost and Found in Africa
    A Visit to Mumbai – Diamond Central!
    Social media ads, boosted posts, Google paid ads: Making the right call for your jewelry store
    Image of Chuck Koehler
    The Retailer’s Perspective: Where Did the Good Times Go?
    The importance of having Patience & Compassion in your jewelry business
    The importance of having Patience & Compassion in your jewelry business
    Ruby sample before and after heating. Photo Natural Ruby company
    The Story Behind the Stone: Assume Heat
    International School of Gemology Education Series
    The Story Behind the Stone: Just Jewels
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • Digital Magazine
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archive
No Result
View All Result
Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    From Armenia to America, Motif Jewelers Turns 40
    Girl Power rocks at Jo & Co. Jewelers
    Jewelry Sales Training from a Living Legend
    Jewelers Look to Modern Tech for a Profitable Future
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Sponsored Content
    • Tradeshow News
    • Video
    • What's New
    Luxury watch preferences among high-income women in the USATHE MV
    Columbia Gem House’s Jewelry for Wildlife fundraiser raises over $12,000
    GIA global research team convenes in Carlsbad
    Synchrony study reveals shoppers value in-store experiences, financing options for large purchases
    jewelers Security Alliance logo
    JSA reports surge in crimes against traveling salespersons and retailers not in retail stores
    CG Creations presents comprehensive Gold & Silver Almanac 2024
    Free and Festive Holiday Marketing from GN Diamond
    Free and Festive Holiday Marketing from GN Diamond
    Anna Martin to retire from GIA
  • Podcast
    The Jewelry Business Scorecard with JBT Experts
    Ep 53 – Jim Rocchio and Brenda Gamba, The Jewelry Business Scorecard with JBT Experts
    Ep 52 - Giving Thanks in Pearls, Our Thanksgiving Special Edition
    Ep 52 – Giving Thanks in Pearls, Our Thanksgiving Special Edition
    Ep 51 – Shelia Bayes, Making E-Commerce Accessible to Jewelers with Gem + Jewel 
    Ep 51 – Shelia Bayes, Making E-Commerce Accessible to Jewelers with Gem + Jewel 
    Stories, Trends, and Expert Insights from Snowden Jewelers
    Ep 50 – Chris Snowden, Stories, Trends, and Expert Insights from Snowden Jewelers 
    SoHo Success at the Atlanta Jewelry Show
    Ep 49 -Amy and Fran, SoHo Vibes, SoHo Success at the Atlanta Jewelry Show 
    The-Third-Generation-Fine-Jewelry-Expert_-Katelynne-Eslick-
    Ep 48 -Katelynne Eslick, The third-Generation Fine Jewelry Expert
    Long Jewelry Empire of Rembrandt Charms
    Ep 47 -Eric Lux, From Coop to Decades-Long Jewelry Empire of Rembrandt Charms 
    The Expert’s Guide to Jewelry Laser Technology of B&D Sales
    Ep 46 -Jacob Dupuis, The Expert’s Guide to Jewelry Laser Technology of B&D Sales
    Ep 45 -Andreas Argentinis, The Fine Personalized Jewelry Standard of Metal Pressions
    Ep 45 -Andreas Argentinis, The Fine Personalized Jewelry Standard of Metal Pressions
  • Columnists
    The Story Behind the Stone: Lost and Found in Africa
    A Visit to Mumbai – Diamond Central!
    Social media ads, boosted posts, Google paid ads: Making the right call for your jewelry store
    Image of Chuck Koehler
    The Retailer’s Perspective: Where Did the Good Times Go?
    The importance of having Patience & Compassion in your jewelry business
    The importance of having Patience & Compassion in your jewelry business
    Ruby sample before and after heating. Photo Natural Ruby company
    The Story Behind the Stone: Assume Heat
    International School of Gemology Education Series
    The Story Behind the Stone: Just Jewels
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • Digital Magazine
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archive
No Result
View All Result
Southern Jewelry News
No Result
View All Result
Home Featured Articles Featured

SHINEBRIGHT Lab-Grown Diamonds

Helping retailers outshine the competition

Deborah Yonick by Deborah Yonick
October 1, 2022
Share on FacebookShare on Twitter
Reading Time: 8 minutes
(left) Akshat Sanghavi SHINEBRIGHT President with his father Amit Sanghavi, President of parent company, Dynamic Design Group.
(left) Akshat Sanghavi SHINEBRIGHT President with his father Amit Sanghavi, President of parent company, Dynamic Design Group.

Demand for lab-grown diamonds has exploded in the past five years. In 2018, the category represented about 5 percent of total global diamond jewelry sales. This year, it is expected to breach 10 percent, and at this pace, 20 percent is likely by 2030, say diamond market analysts. Forecasters cite branding and proprietary design of lab-grown diamond jewelry essential for success at retail.

Helping independent to mid-size retail jewelers outshine the competition in this profitable category is SHINEBRIGHT USA, a leading loose and jewelry wholesaler and manufacturer specializing in lab-grown diamonds.

Founded in 2020, SHINEBRIGHT is a subsidiary of Dynamic Design Group, a leading supplier of high-quality diamond jewelry since 1995. Based in New York City, with offices in Bombay and Surat, India, this vertically integrated company provides significant cost-savings to its retailers, and responds quickly to market changes as it covers all aspects of the diamond and jewelry supply chain.

Second-generation diamantaire Amit Sanghavi is president of Dynamic Design Group, and his son, Akshat Sanghavi is president of SHINEBRIGHT. Also on the leadership team, Alan Cohen is vice president of sales for lab-grown and earth-mined diamonds. A veteran of the natural diamond industry, Cohen developed sales for a pioneering lab-grown diamond brand in 2016 before joining SHINEBRIGHT in 2020 to help build the new company.

High Quality, Dazzling Brilliance

The high quality of the product produced and the way that it’s cut gives SHINEBRIGHT its dazzling brilliance, describes Cohen.

SHINEBRIGHT offers loose certified and non-certified lab-grown diamonds from .01 to 15 carats, in round and fancy shapes. The brand has a large inventory of GIA, GSI and IGI certified lab-grown diamonds, ranging from .50 to 15 carats, predominantly of G+ color/VS2+ clarity. Live inventory is available online at shinebright-usa.com and can be shipped within 24 hours.

With fancy colors in the works for SHINEBRIGHT, Akshat shares that what is so exciting and unique about lab-grown diamond is that it can be fabricated into jewelry in ways not possible or economic with earth-mined diamond.

In addition to loose goods SHINEBRIGHT lab-grown diamonds are set in 14K gold essential diamond jewelry styles, notably engagement rings, stud earrings, and tennis bracelets.

“We know what our customers are looking for and we are continuously innovating to give our partners what they need to be successful. Our wide range of high quality products at unmatched prices offer the perfect selection for any consumer walking through the door,” describes Akshat Sanghavi. The SHINEBRIGHT brand provides retail partners with customizable, high-quality digital marketing assets, sales training, displays, and long-term memo opportunities.

Millennial Mindset

Research by MVI Marketing, which has tracked the lab-grown diamond market since 2014, consistently shows millennial consumers (age 25 to 38) are driving growth in the category. Included in this core group are multiple ethnicities and non-traditional couples, both consumers in the know about lab diamonds and those with no product knowledge but are open to learn.

Akshat Sanghavi at one of SHINEBRIGHT’s factories in India.
Akshat Sanghavi at one of SHINEBRIGHT’s factories in India.

The price-to-value equation – bigger, better, more beautiful for the budget – as well as the technology used to create the product are big draws for both camps. Consumers in the know are also interested in sustainability and social responsibility when considering lab-grown diamonds.

At age 24, Akshat Sanghavi brings next gen perspectives to promoting SHINEBRIGHT. A graduate of the University of Michigan with a bachelor’s degree in economics and entrepreneurship, he knew he wanted to work in the family business during his studies and started learning about it in his sophomore year. He says he had no idea at the time that lab diamonds would be such a growing market. But upon graduation, in the midst of COVID, he and his father Amit saw the opportunity to grow the lab diamond business.

Had it not been for the pandemic, Akshat says he would’ve spent a year after college in India furthering his diamond and jewelry education. He calls Cohen, with over 40 years experience in the trade, a great mentor, and a part of the family. Cohen shares the sentiment, noting that Akshat’s perspective of young consumers today and his 24/7 energy have been vital to the success of the company.

Filling a Missing Link

“The lab-grown diamond category provides a price point that was missing in the market for so long,” says Akshat. “Lab-grown diamonds offer styling, quality and affordability not available to most consumers only a few short years ago. With the advancements in technology behind lab diamonds, we are now able to offer high-quality merchandise at pricing that was previously unattainable.”

Akshat Sanghavi at the JCK Show in June.
Akshat Sanghavi at the JCK Show in June.

Most consumers do not buy a diamond as an investment; they buy it for the emotion. “Consumers can buy a lab-grown diamond for 50 percent less than an earth-mined diamond that if resold would get 40 percent less than its retail price,” says Cohen, “so they’re actually saving money buying lab grown, and still have a diamond in the end.”

Consumers with both earth-mined and lab-grown diamonds are trading them in for bigger lab diamonds. “When you put lab-grown and earth-mined side-by-side, a lot of people pick lab diamonds,” says Akshat.

Cohen praises retailers like Helzberg and Reeds Jewelers that were early adopters of lab-grown diamonds, and cites how Signet is leaning into the category as an opportunity to capture more market share, especially as consumers worry about inflation.

“Jewelers who do not include lab-grown diamonds as part of their offering are missing endless opportunities to close sales,” says Akshat. “Retailers report keystone plus margins with lab diamonds, compared to significantly lower margins for mined diamonds.”

Exceptional Customer Service

Honesty, transparency and quality drive the company to provide not only exceptional products, but outstanding customer service as well.

Due to the growth of the family business, the company is moving the first week of October into a new 2,500-square-foot office at 36 W. 44th St., Suite 1209 to further service its customers in a larger showroom.

Moreover, SHINEBRIGHT has salespeople covering the United States to offer personal service to its retail partners. In addition to exhibiting at JCK Las Vegas, retailers also can find SHINEBRIGHT showing at the Continental Buying Group (CBG) and Leading Jewelers Guild (LJG).

SHINEBRIGHT is a member of the International Grown Diamond Association (IGDA) and the Jewelers Board of Trade (JBT). For more information about the company visit shinebright-usa.com, email contact@shinebright-usa.com, or call 212-840-9400.

Deborah Yonick

Deborah Yonick

Deborah Yonick has been writing about jewelry and the business of selling it for many of the leading trade journals for 30 years. She began her career in the industry as editor-in-chief of Colored Stone Magazine and senior editor for National Jeweler, before becoming an independent writer in 1996. Her byline has appeared in Condé Nast Traveler and Penthouse, and several Pennsylvania newspapers, as well. She also develops and manages content for a variety of companies and organizations in the jewelry trade.

Related Posts

From Armenia to America, Motif Jewelers Turns 40

October 31, 2023

Girl Power rocks at Jo & Co. Jewelers

October 31, 2023

Jewelry Sales Training from a Living Legend

October 31, 2023

Jewelers Look to Modern Tech for a Profitable Future

October 31, 2023

Latest News

Podcast Episodes

Ep 53 – Jim Rocchio and Brenda Gamba, The Jewelry Business Scorecard with JBT Experts

November 28, 2023
On The Move

Luxury watch preferences among high-income women in the USATHE MV

November 27, 2023
Other News

Columbia Gem House’s Jewelry for Wildlife fundraiser raises over $12,000

November 27, 2023

Other News

GIA global research team convenes in Carlsbad

Synchrony study reveals shoppers value in-store experiences, financing options for large purchases

The Story Behind the Stone: Lost and Found in Africa

A Visit to Mumbai – Diamond Central!

JSA reports surge in crimes against traveling salespersons and retailers not in retail stores

CG Creations presents comprehensive Gold & Silver Almanac 2024

Southern Jewelry News

© 2023 Southern Jewelry News.

Additional Information

  • About
  • 2023 Jewelry Trade Shows & Events
  • Media Kit
  • Contact
  • Sitemap
  • Newsletter Signup

Get Social with Us

No Result
View All Result
  • Featured Articles
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    • Sponsored Content
  • Latest News
    • What’s New
    • Industry Events
    • Tradeshow News
    • On The Move
    • Other News
    • Furry Friends
  • Podcast
  • Columnists
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • DIGITAL MAGAZINE
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archives

© 2023 Southern Jewelry News.