lifestyle
Novita Diamonds Opens Showrooms in Barcelona and Madrid
Novita Diamonds operates showrooms in Barcelona and Madrid, part of an Australian-founded network now spanning four continents.
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How we reported this
Spain has two of the brand's European locations, and Barcelona is one of them.
Novita Diamonds, which sells lab grown diamonds, was founded in Australia by Iris Arnold and now runs showrooms in Barcelona and Madrid alongside London, Manchester, Germany, Singapore, New Zealand, Malaysia, Hong Kong and six Australian cities.
A different retail structure
The company works on an appointment basis with an online catalogue rather than traditional high-street retail, which it credits for pricing below established jewellers. That structure has travelled reasonably well across markets with very different retail cultures.
What has changed for buyers
Lab grown stones are chemically and optically identical to mined stones, and major grading laboratories now certify them directly. The practical effect for a Barcelona buyer is a larger stone at a given budget, or the same stone for less. lab grown diamonds are reshaping luxury for younger Malaysians.
The company
Novita states that women hold 80 per cent of its roles and all senior management positions, and reports more than 10,500 five-star reviews. Its design and gemmology team is described as carrying more than 40 years of combined experience.
Spanish buyers under 35 have followed a pattern visible across the company's markets: less deference to convention about what a ring should cost, and more attention to what the stone actually is.
Sources: The Korea Times, Novita Diamonds CEO Iris Arnold shares insights into the future of lab grown gems.