Diamond Companies Going Bankrupt Due to Etsy


Written by: Arden Wallace

Diamond Companies Going Bankrupt Due to Etsy

With the upcoming Valentine’s holiday, major diamond companies were expecting the usual uptick in business. However, this year people seem to have gone elsewhere for engagement rings.

Studies have shown that many people are taking advantage of the romantic holiday to start the rest of their lives. “They just don’t want to invest in ‘shiny coal dust.’ Instead, the general public has been turning to online Etsy Shops for unique, personal rings to give to their beloved,” said market expert Kath Newton. “There are just so many cool options for centerpieces, from glittery natural 20 dice to a glow-in-the-dark mountain range. It seems much more personal than rocks mined by orphans in Africa,” said one shopper.

Etsy Shop owners are enthusiastic about how much business they are getting for their hand carved rings, but no ill will is wished on big diamond companies. “I guess we just have a better range of products with a better price range,” commented one shop owner who specializes in enamel rings with real flora inside. “The only reason diamonds are so popular is because of marketing and strategic supply. Who knows, maybe in 20 years carved fungus will be the new ring centerpiece that children grow up dreaming about!”

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