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Fortune

Sasha Rogelberg

The diamond industry is ‘in trouble’ after prices sunk 6% this year. A jewelry CEO blames the rapid growth of lab-grown diamonds.

United States De Beers Jewelry Anglo American Duncan Wanblad

A man looks through a magnifier at a diamond set in a ring. (Credit: Getty Images)

Diamonds have lost their twinkle in the eyes of the consumer, and industry professionals are sounding the alarms.

“The diamond industry is in trouble,” Ankur Daga, founder and CEO of e-commerce jewelry company Angara, told CNBC in a Tuesday interview.

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