For decades, exclusivity defined the fine jewelry market. Its pillars were scarcity, tradition, and high-stakes showroom purchases. Today, a new generation of consumers is breaking with that past. They want more than a status symbol; they seek jewelry that reflects their identity, tells a personal story, and feels approachable without sacrificing significance.
This shift is creating a jewelry renaissance, fueled by two powerful forces: Lab-grown diamonds and hyper-personalization.
These aren’t niche trends. The global lab-grown diamond market is projected to reach over $56.94 billion by 2032, up from $26 billion in 2024. At the same time, experts predict the personalized jewelry market will reach$76 billion by 2031. Together, these surging categories signal a fundamental reshaping of the nearly $78 billion U.S. jewelry industry. Winning brands are now competing on accessibility, transparency, and cultural relevance rather than exclusivity.
A NEW KIND OF CUSTOMIZATION
One brand perfectly positioned at this inflection point is Wove. Its founders, two U.S. Army veterans, started with a radical idea: Take the intimidation out of buying an engagement ring. They developed a process where couples design their dream ring with an in-house designer and receive a replica made from more affordable materials, which can be worn at home, ensuring it’s the perfect fit and style before jewelers set the final diamond.
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Wove’s CEO Simone Kendle insists on a human-first model—co-creation with a designer and at-home replica try-ons—while using AI only behind the scenes to speed responses, never to replace empathy. That blend of craftsmanship and selective technology makes trust a product feature, not just a brand promise.
This emphasis on co-creation resonates with a generation that values experiences and authentic connection. It’s a stark contrast to the high-pressure showroom model. Though it began with bridal rings, Wove’s customization approach quickly expanded its cultural relevance.
When Travis Kelce gifted Taylor Swift a bracelet with the initials “TNT,” it sparked a global conversation and catapulted Wove into the mainstream with sales surging nearly 2,000%. The company saw site traffic surge 5,000%, followers doubled, and sales increase 2,400% almost overnight. What could have been a fleeting viral moment instead became a case study in modern brand building. It underscored how jewelry is evolving into a cultural signal of love, connection, and identity.
THE POWER OF MEDIA-FOR-EQUITY
Capturing a viral moment is one thing; sustaining it is another. Traditional marketing can be prohibitively expensive for growth-stage companies. This is where a new investment model, media-for-equity, provides an alternative.
Instead of cash, brands exchange a small amount of equity for premium media inventory—prime-time TV spots, streaming ads, and digital out-of-home. It’s a win-win: The brand gains exposure without draining reserves, while the media partner gets a stake in future success. This model has decades of proof in Europe, with notable successes including Zalando, Airbnb, Pinterest, and Rappi, among others.
Wove’s recent $4.25 million mediainvestment from mediaforgrowth (MFG) illustrates how this works. Access to national TV and streaming channels enables the brand to build awareness more quickly than through organic reach or paid social media alone. Paired with culturally attuned activations, this creates a flywheel where visibility fuels momentum, and that momentum attracts new audiences and investors. It enables brands to tell their story at scale—a critical advantage in a market shifting from static luxury to dynamic self-expression.
A NEW INDUSTRY BLUEPRINT
The jewelry market is at a turning point. Future growth won’t come from brands clinging to old traditions but from those that champion transparency, personalization, and narrative. The rise of lab-grown diamonds and customization signals a future where fine jewelry is less about inheritance and more about individual expression.
The success of brands like Wove demonstrates a new blueprint for legacy industries. By aligning with changing consumer expectations and leveraging innovative models like media-for-equity, companies can not only survive but thrive. The broader lesson is clear: When consumer values shift, industries must redefine themselves from the ground up.
Diana Florescu is the CEO and founding partner of MFG (mediaforgrowth).