Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairLab-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.
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 …
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.”
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.
Editors' Picks
Sponsored by
More on Lab-Grown
The Latest
CrimeFeb 13, 2025
Macy’s Employee Foils $1.5M Jewelry Theft The employee confronted the thief, causing the suspect to flee and leave behind the suitcases full of jewelry.
SourcingFeb 13, 2025
Namibian Diamond Co. Suspends CEO, COO After Deadly Heist Namib Desert Diamonds also put its security manager on leave following last month’s robbery that left one employee dead.
Events & AwardsFeb 13, 2025
AGTA Announces Buyer’s Choice Award Winners for Spectrum, Cutting EdgeAGTA recently concluded its 2025 GemFair event in Tucson and is already gearing up for next year’s show, set for Feb. 2-6, 2026.
Brought to you by
3 Ways to Capitalize on America’s Newfound Love of Colored GemsColored stones are stepping into a jewelry spotlight typically reserved for diamonds—are you ready to sell color?
CollectionsFeb 13, 2025
Royal Chain Releases Its Spring 2025 CatalogMore than 400 new pieces are featured in the supplier’s latest catalog.
Weekly QuizFeb 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsFeb 13, 2025
Amanda’s Style File: Hearts for Valentine’s DayThis curation celebrates love with heart-shaped jewelry of all shapes and sizes.
Policies & IssuesFeb 13, 2025
Jewelers Relief Fund Reopened to Aid Victims of LA Fires The fund is collecting money for jewelry businesses damaged by the wildfires in Los Angeles County.
Brought to you by
3 New Year’s Resolutions for Jewelry Lovers The new year feels like a clean slate, inspiring reflection, hope, and the motivation to become better versions of ourselves.
TrendsFeb 12, 2025
5 Engagement Ring Trends Expected to Rule 2025From chunky bands to vintage diamond cuts and bezel settings, these are the trends experts are seeing take over the bridal market.
EditorsFeb 12, 2025
Q&A: Marion Fasel on the History of Diamond Engagement RingsFasel discusses researching her new book, the most enduring engagement ring styles, and the diamond shape Taylor Swift will pick.
CollectionsFeb 12, 2025
De Beers Jewellers’ New High Jewelry Pays Homage to the Beauty of TreesThe “Essence of Nature, Chapter One” collection echoes trees and roots, literally and figuratively, through three sets of high jewelry.
SourcingFeb 12, 2025
SRK Announces Notable Reduction in Greenhouse Gas EmissionsLate last year, the India-based diamond manufacturer recorded emissions per carat that are 34 percent lower than the industry average.
ColumnistsFeb 12, 2025
Peter Smith: 9 Store Manager Archetypes Smith details the types of store managers he’s encountered, with the goal of helping retailers find a person who’s a fit for their store.
TechnologyFeb 12, 2025
MyGemma Now Offers Consignment ServiceThe secondhand reseller stocks pre-owned designer jewelry and watches, along with other luxury goods.
CollectionsFeb 12, 2025
Ghirardelli Is Slipping Chocolate Into a Locket This Valentine's DayThe limited-edition “Chocolocket” fits a mini square of Ghirardelli chocolate inside.
Events & AwardsFeb 11, 2025
JA Seeking Nominations for Its Next ‘20 Under 40’ ClassThe program has been expanded to include a “20 Under 40” list for jewelry suppliers and is accepting nominations through Feb. 19.
CrimeFeb 11, 2025
2 Men Charged With Selling Stolen Jewelry, Watches in NYC Diamond DistrictOne of the men is said to be connected to the South American crew charged with burglarizing Cincinnati Bengals QB Joe Burrow’s home.
WatchesFeb 11, 2025
Bulgari, MB&F Launch Reimagined ‘Serpenti’ WatchThe brands immersed one of Bulgari’s most famous historical icons in MB&F’s ultra-mechanical universe of haute horlogerie.
FinancialsFeb 11, 2025
Boucheron a Bright Spot as Kering’s Full-Year Sales Sink 12%The luxury titan’s full-year performance was weighed down by struggling sales at its star brand Gucci.
MajorsFeb 11, 2025
Midas Chain Releases First Diamond CollectionThe jewelry manufacturer has launched more than 100 pieces made with natural diamonds.
SurveysFeb 10, 2025
Jewelry Resilient in 2024 Even As Luxury Sales Slipped, Says Bain & Co.Bain & Co.’s latest report on the luxury market examines why the market’s customer base is shrinking and how to appeal to consumers in 2025.
CrimeFeb 10, 2025
Counterfeit Jewelry Kept Kentucky Customs Agents Busy in January, CBP Says Officers in Louisville seized 28 shipments of fake jewelry and watches that would have been worth more than $27 million if genuine.
CollectionsFeb 10, 2025
Hearts on Fire Flips Jewelry ‘Inside Out’ in New CollectionThe collection centers on the art of tailoring, inspired by designs that feature folded fabrics, such as a tuxedo lapel.
Events & AwardsFeb 10, 2025
Select Jewelry Show Heads to NashvilleThe trade show has added a new location to its fall line-up.
CollectionsFeb 07, 2025
Piece of the Week: Jade Trau’s ‘Ladybird’ CharmFrom the brand’s latest collection of lucky charms, the ladybird is seen as a bearer of good fortune and a ward against negative energy.
SourcingFeb 07, 2025
De Beers’ Production Guidance Slashed, Anglo Anticipates Another WritedownThe moves come amid a prolonged period of lower demand for diamonds, particularly in China.
Events & AwardsFeb 07, 2025
Registration Opens for Stuller’s Bench Jeweler WorkshopThe workshop returns in March, along with the “Battle of the Benches” mini challenge series.
