Editors

Lightbox Is Now Selling Engagement Rings, and Nobody Should Be Surprised

EditorsJun 23, 2023

Lightbox Is Now Selling Engagement Rings, and Nobody Should Be Surprised

The clues have been there since at least 2021, like a little trail of diamond shavings sprinkled through the virtual woods.

Lightbox website screenshot
This June 20 screenshot shows the homepage of the Lightbox website advertising the company’s latest venture—engagement rings.
It’s impossible to remember everything that was opined, predicted and discussed about Lightbox when De Beers launched the brand in 2018, but I do remember this.

In an opinion piece published in July 2018, shortly after Lightbox was introduced as fashion jewelry for slightly less-special special occasions, longtime industry analyst Ben Janowski wrote: “It seems very unlikely that De Beers would be taking this direction, plunging into a product that has been attacked by many diamond people, just to pursue this very limited range of fashion jewelry.” 

He continued, “Spending about $100 million to build a new factory in Oregon could not be justified to sell ‘moments’ jewelry. Nobody can reasonably think that is its short- or long-term objective ...  To believe that De Beers will not expand the range of this line to include rings and more expensive products is foolish.”

Five years, a $94 million factory and one global pandemic later, Janowski’s prediction has come to pass, sort of.

Last week, a colleague alerted me to the fact that Lightbox was now selling engagement rings, per the homepage of the company’s website but with no formal announcement preceding the launch.

Lightbox is framing the move as just a test that is only being advertised to consumers in three key markets, Atlanta, Dallas and New York (though anyone in any U.S. state can buy a Lightbox engagement ring from the company’s website).

The test is set to last three months, with the rings sold only on the Lightbox website, the company said.

As of press time, there were 16 diamond engagement rings available on the site retailing for $500 to $5,000.

Rings set with regular Lightbox lab-grown diamonds are priced at the brand’s standard $800 per carat, plus $700 for the 14-karat gold setting. Rings with a halo setting are an additional $300.   

There also are a few 18-karat gold rings set with “Finest” lab-grown diamonds, the name Lightbox has given to its more expensive, higher clarity (VVS) and color (D, E or F) diamonds.

The company said it is maintaining its $1,500/carat pricing for Finest stones but has, “not held to a fixed setting price for this test,” adding that it is, “using this period to better understand consumer reaction to different propositions.”

Lightbox Mini Trio lab-grown diamond ring in 14-karat yellow gold
This 14-karat yellow gold ring set with 0.30 carats of lab-grown diamonds is among the rings Lightbox is listing on the engagement ring page of its website. Part of the “Mini Trio” collection, it is priced at $500 retail and available in 14-karat white gold as well.

After I heard the news of Lightbox’s light launch of engagement rings, I reached out to Janowski, who was impressed I had remembered his article from 2018 and unsurprised that Lightbox is selling, or at least testing the sale of, engagement rings.

When De Beers launched Lightbox, “I think they were concerned about panicking sightholders,” he said, hence the “fun fashion” introduction.

But, he suspected, the long-range plan was to slowly build up to engagement rings because its other business—mining—isn’t forever.

Currently, De Beers has mines in Botswana, Namibia, South Africa and Canada, with the lion’s share of production (70 percent, according to its year-end 2022 production report) coming out of Botswana.

There are three active diamond mines in Botswana—Jwaneng, Orapa and Letlhakane—with their life expectancy ranging from 13 (Jwaneng, 2036) to 20 years (Letlhakane, 2043), barring the approval of any projects that could extend life-of-mine for these operations.

(There is a fourth diamond mine in Botswana, Damtshaa, but there’s no mining taking place there at the moment.)

De Beers’ current mining operation with the longest expected lifespan is Mining Area 1 in Namibia, which it anticipates will remain active for at least 19 more years, until 2042. Namibia as whole accounted for 6 percent of De Beers’ overall production last year.

There are no more major mines coming online anytime in the near future and any new mines that do open will have their own unique set of challenges—host countries that, rightfully, will want more of a cut of their country’s natural resources and increasingly unpredictable severe weather caused by climate change.

“De Beers never thinks short term, or they try not to,” Janowski said Wednesday. “They see that they’ve got a volatile market, a key country partner in Botswana that’s basically going to be taking over what’s left of the diamond business there.”

“Their mining days are literally fading away. So, what are they doing to do? What is their business going to be?”

The company needs to diversify, which is what it tried to do with diamond buybacks, and what it is doing with De Beers-branded stores and high jewelry collections, and Lightbox.

And if you’re going to be in the business of growing diamonds and you have an efficient operation and are building, or at least attempting to build, a brand that consumers recognize, why would you not sell engagement rings? 

“I don’t think you can avoid it,” Janowski said. “If you are going to be in that business, why restrict yourself?”

 Related stories will be right here … 

Like Janowski, I wasn’t surprised when a colleague texted me about Lightbox’s new engagement rings last week, though it was the company’s little moves that were the big tell for me.

As you might remember, when Lightbox started out, it was a lot of smaller (less than 1 carat) blue and pink diamonds in more fashion-forward settings. (I have an early Lightbox ring set with a fancy shape pink diamond; I still wear it regularly to this day and I get a lot of compliments on it.)

Over time, the company’s production has gotten bigger, better and more targeted.

In August 2021, the factory started pumping out 2-carat lab-grown diamonds. That fall, it began selling loose lab-grown diamonds.

In September 2022, Lightbox expanded its selection of loose diamonds to include more fancy shapes, which are hot right now.

When Lightbox first began selling lab-grown loose round and princess-cut diamonds in fall 2021, it seemed the company was working overtime to distance the stones from engagement rings, essentially describing them as destined for custom pieces of fashion jewelry commissioned by female self-purchasers.

In a quote provided by the company, then-CEO Steve Coe used a lot of adjectives to describe Lightbox Loose without really saying anything, describing them as a “simple and accessible way to create fun and affordable, custom-designed lab-grown diamond fashion jewelry using our colorful array of stones.”

Though the phrase “engagement ring” was not among the many words that passed Coe’s lips, I wrote in December 2021 after a trip out West to see the finished Lightbox facility that these loose diamonds, “seemed destined for engagement rings.”

And now that’s right where they are, for a three-month “test run,” at least.  

The Latest

Mark and Candy Udell
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime Achievement

Mark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.

De Beers marine mining vessel the SS Nujoma
SourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2

While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.

Francesca Villa Fantasia Collection The Crab Pendant, The Mermaid Pendant, Keep Dancing Seahorse Pendant, Keep Dancing Ladybug Pendant, Secret Dreams Pendant, The Puffer Fish Takes Flight Pendant
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio Characters

The “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Breitling’s special Eagles Super Bowl watch on gold bracelet
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles

The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.

Weekly QuizJul 25, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Stock image of crime scene tape
CrimeJul 23, 2025
JSA Warns of Violent String of Smash-and-Grabs in California

JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.

Silvia Furmanovich Kasmir Collection Carnelian Bracelet and Sketch
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern India

The “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Bench jeweler holding a bracelet and a tool
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHo

Creative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.

LAFD Fire Station 44 and Fire Station 16
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief

Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.

A Vanitas by Hannah Martin and Guy Berryman Sothebys
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s London

Next week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.

Cover of the book “Flawless: Inside the Largest Diamond Heist in History”
SourcingJul 22, 2025
Antwerp Diamond Heist Documentary Coming to Netflix

“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.

Emmanuel Raheb
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the Holidays

Emmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.

NY Now
Events & AwardsJul 22, 2025
NY Now’s Summer Market Returns in August

The wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.

Jeweler setting a diamond into a ring
MajorsJul 21, 2025
Rio Grande Expands Personalization Offerings

As demand for custom jewelry grows, the company is expanding its services to support retailers.

National Associate of Jewelry Appraisers Logo
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go Virtual

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Jacquie Aiche graduated turquoise beaded necklace
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

24th Gem Awards Show Logo
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

Lewis Heyman
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement Plans

He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

CCWW Designs Multiple Shell Charm Necklace
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm Necklace

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

The Plumb Club board members
MajorsJul 18, 2025
Plumb Club Elects New Board Members

The organization elected its youngest vice president as it looks to draw in fresh talent.

Jewelry industry veterans Brad Campbell and John Liebler
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

Silver, Gold, and Bronze Medals for Italy Olympic Winter Games
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes Unity

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

vimeo screenshot.png
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up!

Sponsored by The INSTORE Jewelry Show 2025

Guinness
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGov

Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

Gina Ferranti
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

Rio Tinto Chief Executive Simon Trott
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at Diavik

Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy