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.
More on Lab-Grown
The Latest
SourcingOct 09, 2025
Feriel Zerouki Is Leaving De Beers The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 09, 2025
Gemfields’ Mini Mixed-Quality Ruby Auction Garners $11MThe rough on offer was recovered from a newer area at the Montepuez mine.
SourcingOct 08, 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.
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
CollectionsOct 07, 2025
Jessica McCormack Looks to Sea Spirits for ‘Tempest’ CollectionThe brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.
SourcingOct 07, 2025
Columbia Gem House Announces ‘Opals for Outback Heroes’ FundraiserProceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.
MajorsOct 07, 2025
Stuller Names Its S.E.R.V.E Stars for 2025Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.
WatchesOct 06, 2025
This Fall, Citizen’s Forecast Calls for RainCitizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.
AuctionsOct 06, 2025
The ‘Rolex That Made Rolex’ Heads to Auction at Sotheby’s The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.
GradingOct 06, 2025
GIA India Names Former De Beers Exec as New Managing DirectorAmit Pratihari was previously the managing director of De Beers India and Forevermark India.
SourcingOct 06, 2025
SoCal 24 Karat Club Integrates Into Diamond Club West CoastMembers of the Jewelers 24 Karat Club of Southern California will gain access to expanded services, resources, and connections, DCWC said.
TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
