The Question We Aren't Supposed To Ask
26 Jan 2026
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After decades in the diamond trade, Ashu Malpani finally addresses the question few are comfortable asking — and explains why experience, not trends, shaped his stance on lab-grown diamonds.
A father and son discuss lab-grown diamonds, quietly.
“Papa, in your four decades in the diamond industry, did you ever seriously consider moving into lab-grown diamonds?”
It’s a question that doesn’t usually get asked out loud, especially not within families that have spent generations in the natural diamond trade.
And yet, it’s a fair question.
Because over forty years, I’ve seen trends come and go. New technologies, new promises, new ways of packaging old ideas. Lab-grown diamonds are not new to me. I’ve watched their evolution closely, from early experiments to mass production, from curiosity to aggressive marketing.
So yes, the thought did cross my mind. Not once, but many times.
But every time it did, the answer remained the same.
When lab-grown diamonds first appeared, how were they viewed within the trade?
When lab-grown diamonds first entered the conversation, they weren’t introduced as a replacement. They were discussed quietly — almost academically. An interesting development. A technological achievement.
At the time, no one spoke about emotion, legacy, or investment. It was about capability: Can a diamond be grown? The answer was yes.
But in the trade, capability alone has never been enough.
Did you see lab-grown as a threat, an opportunity, or simply a different product?
Natural diamonds were never threatened by lab-grown ones — not because of ego, but because they serve fundamentally different purposes.
A natural diamond carries time. Geological history. Irreversibility.
A lab-grown diamond carries precision. Replicability. Control.
One is discovered.
The other is manufactured.
Both have their place — but not the same meaning.
“Papa, in your four decades in the diamond industry, did you ever seriously consider moving into lab-grown diamonds?”
It’s a question that doesn’t usually get asked out loud, especially not within families that have spent generations in the natural diamond trade.
And yet, it’s a fair question.
Because over forty years, I’ve seen trends come and go. New technologies, new promises, new ways of packaging old ideas. Lab-grown diamonds are not new to me. I’ve watched their evolution closely, from early experiments to mass production, from curiosity to aggressive marketing.
So yes, the thought did cross my mind. Not once, but many times.
But every time it did, the answer remained the same.
When lab-grown diamonds first appeared, how were they viewed within the trade?
When lab-grown diamonds first entered the conversation, they weren’t introduced as a replacement. They were discussed quietly — almost academically. An interesting development. A technological achievement.
At the time, no one spoke about emotion, legacy, or investment. It was about capability: Can a diamond be grown? The answer was yes.
But in the trade, capability alone has never been enough.
Did you see lab-grown as a threat, an opportunity, or simply a different product?
Natural diamonds were never threatened by lab-grown ones — not because of ego, but because they serve fundamentally different purposes.
A natural diamond carries time. Geological history. Irreversibility.
A lab-grown diamond carries precision. Replicability. Control.
One is discovered.
The other is manufactured.
Both have their place — but not the same meaning.
What ultimately made you decide that lab-grown diamonds were not right for Dynamic International?
The decision to stay away from lab-grown diamonds wasn’t about resisting change. It was about understanding what kind of business we wanted to be.
At Dynamic International, we are custodians before we are sellers. Our responsibility is not just to move inventory — it is to protect trust. Once you introduce lab-grown diamonds into a natural diamond business, you blur a line that, in my view, must remain clear.
Not because customers are incapable of understanding — but because clarity is respect.
Did you ever feel pressure — from the market or customers — to include lab-grown?
Of course there was pressure.
There were moments when lab-grown diamonds were positioned as the “future.” When people said, “If you don’t adapt now, you’ll be left behind.”
But the diamond industry has a long memory. What feels revolutionary today can become obsolete very quickly when production scales, prices fall, and perception changes.
We chose patience over momentum.
In simple terms, what is the biggest difference between a natural diamond and a lab-grown diamond?
The biggest difference between natural and lab-grown diamonds is not appearance. It’s permanence.
Natural diamonds are finite. Their supply is limited by nature itself.
Lab-grown diamonds are limited only by machinery, energy, and cost efficiency. That difference changes everything — from long-term value to emotional significance.
From a trader’s perspective, how does rarity influence value over time?
This is where conversations get uncomfortable.
Price is what you pay.
Value is what remains.
Lab-grown diamonds have already shown us what happens when production increases: prices fall, and they fall fast. This isn’t a criticism — it’s economics.
As traders, we’ve seen this pattern before, across many products.
And we believe customers deserve to understand that before making emotional purchases.
The decision to stay away from lab-grown diamonds wasn’t about resisting change. It was about understanding what kind of business we wanted to be.
At Dynamic International, we are custodians before we are sellers. Our responsibility is not just to move inventory — it is to protect trust. Once you introduce lab-grown diamonds into a natural diamond business, you blur a line that, in my view, must remain clear.
Not because customers are incapable of understanding — but because clarity is respect.
Did you ever feel pressure — from the market or customers — to include lab-grown?
Of course there was pressure.
There were moments when lab-grown diamonds were positioned as the “future.” When people said, “If you don’t adapt now, you’ll be left behind.”
But the diamond industry has a long memory. What feels revolutionary today can become obsolete very quickly when production scales, prices fall, and perception changes.
We chose patience over momentum.
In simple terms, what is the biggest difference between a natural diamond and a lab-grown diamond?
The biggest difference between natural and lab-grown diamonds is not appearance. It’s permanence.
Natural diamonds are finite. Their supply is limited by nature itself.
Lab-grown diamonds are limited only by machinery, energy, and cost efficiency. That difference changes everything — from long-term value to emotional significance.
From a trader’s perspective, how does rarity influence value over time?
This is where conversations get uncomfortable.
Price is what you pay.
Value is what remains.
Lab-grown diamonds have already shown us what happens when production increases: prices fall, and they fall fast. This isn’t a criticism — it’s economics.
As traders, we’ve seen this pattern before, across many products.
And we believe customers deserve to understand that before making emotional purchases.
Many people assume lab-grown diamonds are always more ethical. How do you respond to that?”
There is a popular belief that lab-grown diamonds are always the ethical choice.
The truth is more complex.
Ethics are not defined by origin alone. They are defined by transparency, sourcing, labor practices, and responsibility.
Natural diamonds can be responsibly sourced.
Lab-grown diamonds can also raise ethical questions — energy use, transparency in disclosure, and marketing practices. There is no shortcut to ethics.
What does ‘natural’ represent in the philosophy of Dynamic International?
For us, natural diamonds are not just materials — they are stories.
They are pieces of the earth that cannot be recreated once removed.
Selling them requires humility.
Introducing lab-grown diamonds into our business would change the conversation from discovery to production. And that is not a shift we are willing to make.
If someone is choosing between lab-grown and natural, what should they truly ask themselves first?
If you are deciding between a lab-grown and a natural diamond, don’t ask which is better.
Ask yourself:
What does this piece represent to me?
Am I buying for now, or for meaning over time?
Do I want something replaceable, or something singular?
There is no wrong answer — only informed ones.
Why We’re Talking About This Now
This conversation was never meant to be public.
But silence creates misunderstanding. And we believe that honesty — even when it feels uncomfortable — is better than following trends quietly.
This is not a rejection of lab-grown diamonds. It is a conscious decision to remain who we are.
“Not every innovation is meant to replace what already holds meaning.”
There is a popular belief that lab-grown diamonds are always the ethical choice.
The truth is more complex.
Ethics are not defined by origin alone. They are defined by transparency, sourcing, labor practices, and responsibility.
Natural diamonds can be responsibly sourced.
Lab-grown diamonds can also raise ethical questions — energy use, transparency in disclosure, and marketing practices. There is no shortcut to ethics.
What does ‘natural’ represent in the philosophy of Dynamic International?
For us, natural diamonds are not just materials — they are stories.
They are pieces of the earth that cannot be recreated once removed.
Selling them requires humility.
Introducing lab-grown diamonds into our business would change the conversation from discovery to production. And that is not a shift we are willing to make.
If someone is choosing between lab-grown and natural, what should they truly ask themselves first?
If you are deciding between a lab-grown and a natural diamond, don’t ask which is better.
Ask yourself:
What does this piece represent to me?
Am I buying for now, or for meaning over time?
Do I want something replaceable, or something singular?
There is no wrong answer — only informed ones.
Why We’re Talking About This Now
This conversation was never meant to be public.
But silence creates misunderstanding. And we believe that honesty — even when it feels uncomfortable — is better than following trends quietly.
This is not a rejection of lab-grown diamonds. It is a conscious decision to remain who we are.
“Not every innovation is meant to replace what already holds meaning.”
