Lab-Grown

De Beers Will Quit Growing Diamonds for Jewelry

Lab-GrownJun 03, 2024

De Beers Will Quit Growing Diamonds for Jewelry

The company is pivoting production at its factory in Oregon to industrial diamonds, while the future of Lightbox remains unclear.

Exterior Lightbox diamond factory Gresham, Oregon
The exterior of De Beers Group’s diamond factory in Gresham, Oregon. The company announced last week that it is transitioning production at the facility from diamonds for jewelry to diamonds for industrial and technology uses. CEO Al Cook said the exterior of the factory, which currently reads “Lightbox,” will eventually be rebranded.
Las Vegas—De Beers Group announced late last week that it will be suspending production of diamonds for jewelry at its Lightbox factory in Gresham, Oregon, pivoting instead to industrial diamonds for technology applications. 

The company made the announcement Friday, in the midst of the Las Vegas jewelry trade shows. 

The lab-grown pivot is part of a broader new strategy called “Origins,” which is designed to grow desire for natural diamonds while cutting costs. 

In an interview with National Jeweler on Friday, De Beers CEO Al Cook elaborated on the decision, including on the future of Lightbox, the lab-grown diamond jewelry brand De Beers launched six years ago. 

“Element Six used to produce diamonds because they were hard and they could be used industrially,” he said. “Now, with the price of synthetic diamonds coming down, it opens up this amazing set of technological activities. We’re in partnership with ... a number of high-tech companies looking at how you use diamonds as components in the digital era.

“That bit for us is really exciting. And that’s where the future of synthetic diamonds lies for us.”

Despite the transition at the factory, Cook said Lightbox will continue as a brand, drawing upon existing stock for the immediate future. 

“At the moment, we’ve got a lot of stones available to Lightbox. Production will continue for a few months to ensure that they’ve got a stock of beautiful lab-grown diamond stones they can sell.” 

After Lightbox depletes its existing stock, “we’ll see where the brand goes and we’ll see what happens,” Cook said. “I think it’s too early to say.”

 Related stories will be right here … 

De Beers announced the launch of the Lightbox lab-grown diamond brand during the Las Vegas shows in 2018.

At first, De Beers was growing the diamonds for Lightbox at its Element Six facility in the United Kingdom.

In October 2020, it opened its $94 million Lightbox factory in Gresham, a Portland suburb.

In an attempt to control the direction of the lab-grown diamond market, De Beers set an $800/carat price structure for the line.

It also marketed Lightbox as jewelry for less-special special occasions, like Sweet 16s or graduations, not milestones like engagements or anniversaries, which, it posits, should be celebrated with natural diamonds.

Since the line’s launch six years ago, lab-grown diamond prices have dropped precipitously. Lightbox cut its prices by as much as 40 percent last month.

Cook said De Beers expects the trend to continue. 

“For a lot of retailers out there, the incentive to sell natural [diamonds] and the incentive to sell lab-grown are reversed. There was a period of time, a year-plus ago, when retailers got more of a margin sometimes from selling lab-grown diamonds. 

“They were cheap to manufacture, and they could be sold as near-equivalents to natural diamonds. We didn’t do that in De Beers Group. We made very clear through Lightbox that these were two entirely different propositions,” he said.  

“Not everyone followed our approach. It is now very clear that for all the retailers I can speak to here at JCK, the margin you get by selling a natural diamond is far greater than the margin that you get by selling a lab-grown diamond. It’s also clear that the gap is going to grow rather than shrink. We expect the price of lab-grown diamonds to go down and down, to continue collapsing.” 

As it transitions production at the Lightbox factory in Gresham, De Beers announced Friday that it also will be consolidating its Element Six chemical vapor deposition (CVD) diamond-growing facilities, going from three factories to the one factory in Oregon. 

The Latest

Tiffany & Co. Bird on a Rock pendant
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, Kering

The luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.

Cullinan Diamond Mine plant
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital

The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.

Million Dollar Hip Hop Watches by Leon Schäfers, Jeanette Lang, Tobias Kargoll
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch History

The book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.

BTYB10.25_Header.jpg
Brought to you by
Are Earrings an Overlooked Category? What Retailers Need to Know Now

As the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.

Alexis Vourvoulis
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & Watches

Alexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.

Weekly QuizOct 16, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Taylor Swift engagement ring Greenwich St
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds Edition

The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.

Rahaminov Diamonds Emerald-Cut Diamond Bracelet
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the Holidays

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.

LIM-401 2024 National Jeweler Supplier Bulletin- iD100 Web and Eblast FINAL (2) (1).jpg
Brought to you by
Protect Your Customers and Your Business

You deserve to know what you are selling–to protect your customers as well as your business and your reputation.

Fancy vivid purplish pink diamond
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva Auction

The nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.

“Storied Diamond Desert Sands of Eternity” engagement ring and wedding band
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey

The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.

Tiffany & Co. Bird on a Rock by Tiffany High Jewelry Lariat
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New Perch

Chief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.

Jewelers for Children Halloween contest
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume Challenge

Five dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.

Hillsborough show
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New Owner

Recently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.

Bicolor pink and colorless diamond
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink Diamond

The stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.

Pomellato Rodeo Drive Flagship Exterior
MajorsOct 21, 2025
Pomellato Brings ‘Global Attitude’ to Rodeo Drive Flagship

Hollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.

Douriean Fletcher Messenger Collection
Events & AwardsOct 21, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MAD

The Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.

Sothebys the glowing rose pink diamond
AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink Diamond

Making its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.

2025_Gemfields logo.jpg
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby Mine

They were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.

Empress Eugénie’s pearl and diamond tiara
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre

It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.

Lauren Gayda
SourcingOct 20, 2025
Pristine Gems Names New Director of European Sales

Gemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.

Charles London, Mayer and Fran Udell, Mark and Candy Udell
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100

In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.

The Edit – A Gallery of Italian Jewelry Masterpieces Graphic
Events & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYC

The new showcase dedicated to Italian jewelry design is set for Oct. 29-30.

Judi Powers Jewelry Stella Earrings
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ Earrings

Take a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.

Jeffrey Zimmer Reeds Jewelers
IndependentsOct 16, 2025
Retailer Hall of Fame 2025: Jeffrey Zimmer

Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.

Sothebys salon new bond street
AuctionsOct 16, 2025
Sotheby’s Introduces Custom Jewelry Service

The new high jewelry design and production process takes 30 days or less from concept to completion, the auction house said.

Oscar Heyman 2025 Holiday Catalog Cover
MajorsOct 16, 2025
Oscar Heyman’s Holiday Catalog Is Out, and It’s Spectacular

The holiday catalog for 2025 features never-before-seen images of more than 100 one-of-a-kind masterpieces.

Foundrae United in Love Campaign Imagery
CollectionsOct 16, 2025
Foundrae Adds To ‘United in Love’ Collection

The brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.

×

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