BASMA CHAEIRI OF ETIKA JEWELS, THE ANSWER TO A DISCERNING CLIENT

Basma Chaeiri, designer of Etika Jewels, has a very nuanced definition of luxury in today’s world. For her, “luxury today goes beyond simply owning expensive things; it embodies meaningful experiences, ethical craftsmanship, and personal well-being. Consumers increasingly value authenticity, sustainability, and the emotional resonance a brand can offer. She even backs it up with figures, and details that ‘this shift is evident in the global luxury market, which reached approximately €1.478 trillion in 2024, reflecting a 2% decline from €1.508 trillion in 2023. Despite this overall contraction, certain segments have demonstrated resilience. Experiential luxury and well-being sectors saw a 5% growth, indicating a consumer preference for experiences over traditional luxury goods.”

Chaeiri goes to her own playground stating that, “additionally, the jewelry category remained robust, while shoes and watches faced challenges.” Then she goes to her own philosophy and vision, “at Etika Jewels, we align with this evolved definition by providing lab-grown diamond jewelry that combines ethical sourcing with timeless elegance, allowing our clients to indulge in beauty without compromising their values.”

Chaeiri designs for “clients (who) are socially conscious, value-driven individuals who prioritize quality, sustainability, and authenticity. They are part of a growing demographic seeking brands that align with their values and offer transparency in sourcing and production. With us, they experience luxury through our ethically sourced lab-grown diamonds, which deliver the same brilliance as mined diamonds but without the environmental and ethical costs associated with traditional diamond mining. This shift toward sustainable luxury is reflected in broader market trends.”

She goes back again to her figures and statistics, it “turns out around 10% of consumers are willing to spend more on sustainably produced goods, even in the face of inflation and rising costs of living.” It also transpires that “60% of Gen Z actively seek products with lower environmental impact. In addition to ethical sourcing and sustainability, Etika Jewels delivers an exceptional high-value proposition through our commitment to quality and personalized service. From bespoke designs and personal assistance to meticulous attention to detail, we ensure that each client receives an impactful and tailored experience.”

Chaeiri puts back the dupes trend in a broader social context, for her “the rise of "dupes" in China reflects a significant shift in consumer behavior toward accessible luxury, influenced by socioeconomic challenges and changes.

Still focusing on a larger perspective, she explains that “this trend (the dupes) is compelling traditional luxury brands to reassess their strategies, considering factors such as pricing, value proposition, and engagement with a more cost-conscious yet fashion-forward consumer base. It indicates a broader redefinition of luxury, where exclusivity is balanced with accessibility, and brand prestige is measured against perceived value and social relevance.”

With Gen Z coming into the market, she nods that “absolutely. Gen Z is reshaping the concept of luxury by prioritizing experiences over material goods as consumers prefer spending on experiences such as travel, social events, and wellness. This generation also places a high value on sustainability and authenticity, pushing brands to offer more personalized and meaningful experiences.”

Chaeiri ever the logical one, ascertains that “Gen Z demands transparency and purpose, requiring brands to adapt by fostering emotional connections through unique, experience-driven offerings. Luxury now lies not in what one owns but in the moments one creates, making this generation a key driver in the ongoing evolution of the luxury market.

However, when it comes to the idea that perhaps luxury is just a construct, Chaeiri, explains that “to a conscious and well-informed audience though, true luxury goes beyond image—it is rooted in excellent service, craftsmanship, quality, and ethical practices. It seems that younger consumers increasingly question the value of high-priced items, with many perceiving luxury goods as overpriced and of declining quality. This shift has driven a growing demand for authenticity, transparency, and meaningful products.

Yet, post-pandemic with major luxury groups raising their prices, sometimes stratospherically, it seems that price did not equate with the quality of the products. Chaeiri, aware of that, elaborates that “the luxury sector's post-pandemic price hikes have been significant, with many brands raising prices by 15-20%. Despite these soaring costs, investigations revealed unethical labor practices within luxury supply chains. Also it appears that certain workshops in Tuscany, producing goods for luxury fashion brands, employed undocumented migrant workers under exploitative conditions, including long hours and inadequate contracts. This disconnect between skyrocketing prices and unethical practices has alienated many consumers and emphasized the urgent need for transparency and accountability in the industry.”

To avoid such issues and the blood-diamond conundrum, whereby jewels were sourced from questionable mines, Chaeiri says that “at Etika Jewels, we take a firm stand against such practices, ensuring our products are free from the environmental and ethical concerns tied to traditional diamond mining. Our partnerships with suppliers adhere to strict labor standards, safe working environments and fair wages. Furthermore, we prioritize transparency regarding our production processes to foster trust and accountability.”

At Etika jewels, she simply rounds up her offering, “we recognize that today’s consumers want more than a brand name—they seek meaningful connections, fair pricing, and products that reflect their principles. While profit margins are important, we believe that forging lasting relationships with our customers by staying true to our values will ultimately drive long-term success.”