The decision is in line with the company’s Origins Strategy, which aims to concentrate investment in higher-return segments and streamline operations. De Beers has noted that the value of LGDs has been eroding, leading to significant pricing pressure
London: The De Beers Group has announced the closure of its lab-grown diamond (LGD) jewellery brand Lightbox, signalling a renewed focus on natural diamonds in the jewellery sector. The decision comes as part of De Beers’ broader Origins Strategy, which aims to concentrate investment in higher-return segments and streamline operations.
Launched in 2018, Lightbox was introduced to establish clear market positioning for LGDs, setting a linear pricing structure of $800 per carat. The initiative aimed to distinguish LGDs from natural diamonds by highlighting differences in value and attributes. Over time, however, the LGD jewellery market experienced a steep decline in wholesale prices—falling by around 90%—leading to significant pricing pressure. This trend underpins De Beers’ decision to discontinue Lightbox.
“The persistently declining value of lab-grown diamonds in jewellery underscores the growing differentiation between these factory-made products and natural diamonds,” said Al Cook, Chief Executive Officer of De Beers Group. “Lightbox has helped to highlight the fundamental differences in value between these two categories.”
De Beers notes that the value of LGDs has become increasingly disconnected from that of natural diamonds, now following a cost-plus pricing model rather than aligning with traditional diamond valuations. In addition, increasing global competition and rising production from China have driven further price erosion. The brand also cited price suppression from mass retailers in the US, such as supermarkets, contributing to the diminishing value of LGDs in jewellery.
“The planned closure of Lightbox reflects our commitment to natural diamonds. We are also excited at the growing commercial potential for synthetic diamonds in the technology and industrial space,” Cook added.
While De Beers is exiting the LGD jewellery sector, its subsidiary Element Six will continue to focus on synthetic diamonds for industrial and technological applications. With over 70 years of experience, Element Six will centralize CVD production at its Oregon facility and support innovation in sectors such as semi-conductors and quantum technologies.
The closure process will include potential asset sales, including inventory, and continued support for existing customers through warranties and after-sales services. De Beers will work with stakeholders to ensure an orderly transition.
The De Beers Group, a subsidiary of Anglo American Plc, is a South African-British corporation that operates in 35 countries with mining taking place in Botswana, Namibia, South Africa and Canada. The brand’s jewellery houses are De Beers Jewellers and Forevermark, and it also operates diamond sourcing and traceability initiatives Tracr and GemFair.
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