In ‘The Faces of the Industry,’ a recurring item in our newsletter, we bring an industry name to the spotlight, one at a time. This person has been nominated by the previous ‘Face of the Industry’ and will appoint the one for the next edition of the Antwerp Diamond Digest.
This time, we had the pleasure of interviewing Dr. Thomas Hainschwang, Managing Director and researcher at GGTL Laboratories Liechtenstein and CEO of GGTL Antwerp. Nearly thirty years ago, Thomas entered the diamond and gemstone industry as an outsider, without family ties or a legacy to lean on. Today, he stands as one of the most respected voices in gemmological research.
Can you tell us about the company you work for and your role?
Thomas Hainschwang: I work and am CEO at GGTL Laboratories. We currently have three labs: one in Liechtenstein, one in Antwerp, and one in Geneva. I founded the Liechtenstein lab, which was originally called GEMLAB Liechtenstein, in 1996 and later the Antwerp lab in late 2022. The Geneva lab was independent, run by Frank Notary, and after collaborating as ‘GIA Switzerland’ between 2004 and 2006, we both went independent again. In 2011, we formed the GGTL group, which now unites the Liechtenstein, Geneva, and Antwerp labs.
Does each lab have its own focus?
Thomas: Yes. The Liechtenstein lab is a full-spectrum gem testing laboratory, which includes everything from auction-house pieces to melee and pearls. The Geneva lab has a strong focus on the watch industry, meaning we test melee diamonds mostly. Other work is happening there, too, but the Geneva lab is obviously impacted by the Swiss watch industry. In Antwerp, we’re building out our capabilities. Right now, melee testing is the main activity, and we also test colored gemstones and diamonds in all colors. Aside from that, we’re also developing larger grading services here.
You founded your first lab in 1996. That makes 30 years in 2026. Any plans to mark the anniversary?
Thomas: We’re working on it. We skipped the 25th, so for 30 we should definitely do something.
How did you get into the industry?
Thomas: I have no family ties in the industry at all. Since childhood I’ve been fascinated by minerals, fossils, basically anything shiny and geological. That led me to earth sciences, then an ex-teacher pointed me toward gemmology. I loved it and decided early to go independent. I actually started my company in 1996 before finishing my studies. It wasn’t easy without a name or backing, it took about ten years before the business became truly profitable.
Is Liechtenstein a gem hub?
Thomas: Not really. I’m from there, that’s why I started there. It’s outside the EU, much like Switzerland, so customs are complicated. Most clients for the Liechtenstein lab are Swiss, they’re suppliers to major brands and auction houses. Customs cost and delays for countries outside Liechtenstein and Switzerland were a big reason I opened the lab in Antwerp.
What makes Antwerp attractive for your work?
Thomas: Stability, being inside the EU, and the free port advantages supported by AWDC. Logistics are much easier: shipping Antwerp–Switzerland for testing could cost around 1500 euros just in transport and customs delays, while Paris–Antwerp is negligible by comparison. For big clients, time lost at customs was an even bigger concern than the cost that comes with it.
What are the biggest challenges you see in the market right now?
Thomas: Global instability. The market for our largest clients is stagnating. Trade tensions, unpredictable tariffs: decisions can change overnight. That uncertainty makes companies cautious and risk-averse.
Recently, a discount retailer, Zeeman, launched lab-grown pieces. What are your thoughts on this?
Thomas: It was inevitable. Retailers see a margin opportunity. But let’s be clear: at tiny sizes, the wholesale cost of synthetics is just a few dollars per stone in volume. Consumers think a 30 euro “diamond” is a steal, but the stone is minuscule. Natural of the same size isn’t hugely valuable either, but there’s a misconception that these synthetics carry lasting value: they don’t. Historically, we saw the same with synthetic rubies: panic in the market at first, but today synthetic ruby is worth cents per carat while fine natural rubies go at extraordinary prices. I’m convinced synthetic diamonds will become the new moissanite, a cheap alternative, while natural diamonds retain value and desirability.
So your prediction is that lab-grown prices keep falling and shift toward industrial or scientific uses?
Thomas: Exactly. Wholesale lists already show 1–3 ct synthetics in the 60 to 100 dollars per carat range for better qualities. Producers will increasingly pivot to industrial and scientific applications where synthetics shine. My issue isn’t with the material; it’s with the misleading “more ethical, more ecological” marketing claims.
How should the natural-vs-lab-grown conversation be handled?
Thomas: We should educate, not bash. Explain mining economics, rarity, and why controlled market supply is necessary for a viable natural diamond industry. Clarify that synthetics aren’t new, they have been around for decades, and that the big change was 2014, when new methods and presses made colorless synthetics plentiful and cheap. Also explain the broader socioeconomic ecosystem around natural diamond mining: building schools, housing, employment, this is especially crucial in African producing countries. And be honest about resale: many lab-grown engagement rings will eventually hit the secondary market; when owners learn there’s essentially no resale value, that will reshape perceptions.
What’s your outlook for Antwerp as a diamond hub?
Thomas: I’m hopeful, but there are challenges. Some newer centers offer “easy” business environments: low taxes, light oversight. This attracts dealers. Antwerp’s transparency is a strength for serious, clean business and for luxury brands that demand it. The task is convincing the market that the “easy way” isn’t always the right or sustainable way, and that Antwerp’s standards offer long-term stability.
You entered the trade without connections. What’s your golden tip for newcomers in the same position?
Thomas: Find a niche. Don’t do what everyone else does unless you have deep backing. Choose a specialized area where few others operate. And be prepared for the long haul.
How do you see AWDC’s role—especially regarding natural vs. lab-grown?
Thomas: AWDC is invaluable, because few places have anything comparable. I’d emphasize pro-natural communication rather than anti-synthetic: highlight what mining companies contribute to communities and economies, and keep educating in a clear, consistent way.
When you’re in Antwerp outside the diamond district, do you have a favorite spot?
Thomas: I used to keep an apartment near the theater area and loved the weekend markets around there. These days I’m usually in and out for work, but those markets were a favorite.
Finally, whom would you nominate as our next “Face of the Industry”?
Thomas: Paul Chieveley-Williams from Diamwill. he’s been in diamonds forever, focuses on fancy colors, especially greens, and cares deeply about Antwerp’s development. A worthy interviewee!
