Moissanite – the diamond alternative at a tenth of the price that savvy brides-to-be are increasingly choosing
The market for this synthetic mineral could be worth nearly US$50 million by 2025, and it’s finding its way onto the fingers of brides who would rather spend money on a house or nice holiday than on a pricey engagement ring
A hot trend in big bling, moissanite offers a strong alternative to diamonds at a fraction of the price – something that brides-to-be are increasingly picking up on as they buy more of the clear, shiny, laboratory-concocted substitute.
“Moissanite is perfect for the bridal market,” says Alana Chang Weirick, who runs the B2B moissanite firm Moissanite International and the Australian moissanite shop Moi Moi. Engagement rings, she says, account for 80 per cent of Moi Moi sales. “And interestingly it is the brides themselves who come into the store to choose their rings or tell their partners about moissanite. They are savvy women who generally want big stones and know what they want.”
The brides and grooms who buy moissanite jewellery have a responsible stance, according to Weirick. They choose to spend their money on a deposit for a house or a holiday, or on their wedding or honeymoon, rather than on a pricey engagement ring.
She pegs the size of the moissanite market at US$30 million. “But later it will grow exponentially, once people are aware of the beauty and value of the moissanite gemstones,” she says.
Moissanite merchant and metalsmith Kristin Coffin sees three more attractions in moissanite. “It’s affordable, ethically made, and the options encourage complete freedom of style – and lifestyle,” she says. “You can have a gorgeous designer ring that fits your style, and still have money left over to travel, or buy a house.”