(JCK) - Suzanne Miglucci, the new president and CEO of moissanite manufacturer Charles & Colvard, seemed an energetic, forceful presence on her first conference call. Discussing her company’s new strategy, she talked up the growing importance of millennials in the market and how they favor responsibly sourced products. Which makes them, she concluded, the perfect market for “ethically sourced” ForeverOne brand. To drive her point home, she took several shots at gem mining. From what I hear, ForeverOne is an indeed an impressive product. But there are two problems with this message. First, the substantive: From the comments on the conference call, Miglucci is calling moissanite ethical only in comparison to natural diamonds. Yet, even if you grant that producing moissanite in a factory does less environmental harm than extracting a diamond from a ground—and, while this makes a certain intuitive sense, I haven’t seen any hard data on this—that doesn’t mean you can call moissanite an ethical product, any more than you can call a lower-fat doughnut health food. I have not seen any proof that moissanite should be considered more ethical than any other factory-produced product. But there is also business problem here: This strategy is inherently negative.
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