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Real diamonds can’t cut it as cost crunch hits lovebirds

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Some of the shine has come off Rachel Lake’s jewellery business.

It’s been hit by a financial double whammy of lovebirds cutting their budgets for the engagement and wedding rings Ms Lake specialises in and rising costs due to a sharp spike in the price of gold.

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Gus McCubbing is a journalist at the Australian Financial Review in Melbourne. Connect with Gus on Twitter. Email Gus at gus.mccubbing@afr.com

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    Original URL: https://www.afr.com/companies/retail/real-diamonds-can-t-cut-it-as-cost-crunch-hits-lovebirds-20240903-p5k7gr