Frere Enterprises: FTC's New Definition of Diamonds is for the Benefit of the Consumer

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Aug 14, 2018, 13:30 ET

PETALUMA, Calif., Aug. 14, 2018 /PRNewswire/ -- A diamond is now a diamond no matter the origin. Thanks to an amendment to its Jewelry Guide, the Federal Trade Commission has simplified a confusing market previously stocked by natural diamonds, laboratory-grown diamonds, and synthetic diamonds. The FTC removed the word "natural" from the official definition of a diamond, so now lab-grown diamonds are considered the same as those formed by the earth. Frere Enterprises, a company that focuses on digitally transforming companies for the modern age, recognizes the significance this ruling should have on consumers and businesses alike. Being up-to-date and relevant in the modern age is something Frere Enterprises, a company specializing in digital transformations, is always striving for.

Business regulations are mandated and upheld not just for the sake of the business, but for the sake of the consumer. These changes have the potential to benefit the consumers the most while clarifying essential distinctions in the diamond industry.

As a business, Frere Enterprises works toward the betterment of companies largely for the sake of the consumer. Before, a company that grew diamonds in a lab had to label the product as "laboratory-grown," "laboratory-created," or "synthetic." Additionally, marketers who sell diamond "simulants," like cubic zirconia, may no longer refer to their products as "synthetic diamonds." All this is done to curtail confusion among consumers, but another effect will be the gradual increase in supply and decrease in cost of the little gemstones that have come to often be a status symbol.

About Frere Enterprises

Run by CEO Brandon Frere, Frere Enterprises is a California-based company with a global vision based around the usage of special financial technology, or SpecFinTech, with a current focus on financial wellness and productivity.

He has designed and created multiple companies to meet the ever-demanding needs of businesses and consumers, alike. Frere's website, www.FrereEnterprises.com, is used as a means to communicate many of the lessons, fundamentals, and information that he has learned throughout his extensive business and technological endeavors. Through Frere Enterprises, he aims to apply those lessons to other business opportunities.

Frere Enterprises' mission is to acquire traditional businesses and digitally transform them to meet and exceed modern day demand. This mission seeks to transform such businesses by developing the newest and most evolved technologies to speed up the evolution of financial services in order to meet the demands of the modern consumer and exceed the potential of the modern era.

FrereEnterprises.com

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