Overview

• De Beers has announced the closure of its Lightbox lab-grown diamond jewelry brand, launched in 2018 to differentiate synthetic from natural diamonds.
• The closure reflects De Beers’ commitment to natural diamonds and aligns with its Origins Strategy to focus on high-return segments.
• Wholesale prices for lab-grown diamond jewelry have fallen 90% since Lightbox’s launch, driven by global competition and cost-cutting by Chinese producers and U.S. retailers.
• The Lightbox manufacturing facility in Gresham, Oregon, will be repurposed to produce synthetic diamonds for industrial and technological applications under De Beers subsidiary Element Six.
• De Beers is negotiating the sale of Lightbox’s inventory and other assets while continuing to support existing customers with warranties and after-sales services during the wind-down.