EditorsApr 15, 2025
Q&A: Bogolo Joy Kenewendo on Making Deals, Marketing DiamondsLab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says
The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.
De Beers Group just announced it was shutting down Lightbox, the lab-grown diamond fashion jewelry brand it launched in 2018. Pictured are the brand’s “Poet” earrings in 14-karat white gold with lab-grown diamonds from the “Reminiscence” collection, introduced in fall 2024.
London—De Beers Group announced that it is pulling the plug on Lightbox, a move that seemed inevitable after the company declared last year in Las Vegas that it would no longer grow diamonds for jewelry.
In a statement issued Thursday, the diamond miner and marketer said the closure was intended to reinforce its commitment to the idea that natural diamonds are for jewelry, while lab-grown diamonds are for industrial and technological applications.
“Back in 2018, when we started Lightbox, synthetics were selling for thousands of dollars, almost as much as natural diamonds. Lightbox offered them for a groundbreaking, honest, low price,” De Beers CEO Al Cook wrote Friday in a post on LinkedIn.
“Today, as The New York Times points out, you can buy them for $299 in a supermarket,” he wrote, referencing an article titled “Would You Buy Your Diamond Engagement Ring at Walmart?” the newspaper published Thursday.
(People actually will buy their engagement ring at Walmart, and they buy a lot of other jewelry there too. The company ranks No. 2 on National Jeweler’s latest $100 Million Supersellers list.)
Cook’s LinkedIn post continued, “If you want something fun, sparkly and low cost, go right ahead! If you want to mark the most special moments in your life, do it with a gem that is ancient, rare, and unique—natural diamonds have been the symbol of love for hundreds of years.”
A De Beers spokesperson said the company expects to conclude all of Lightbox’s consumer-facing activity sometime this summer and shut down Lightbox operations at the company’s purpose-built factory in Gresham, Oregon, by the end of the year.
The Lightbox factory will then transition to fully becoming an Element Six facility, playing a “key role” in the company’s business.
Element Six is part of De Beers Group and grows diamonds used for industrial and technological purposes.
The company has offices/manufacturing facilities in seven locations worldwide: Oxford and Ascot in the United Kingdom; Shannon, Ireland; Burghaun, Germany; Springs, South Africa; Santa Clara, California; and the facility in Gresham.
Related stories will be right here …
In a statement issued Thursday, the diamond miner and marketer said the closure was intended to reinforce its commitment to the idea that natural diamonds are for jewelry, while lab-grown diamonds are for industrial and technological applications.
“Back in 2018, when we started Lightbox, synthetics were selling for thousands of dollars, almost as much as natural diamonds. Lightbox offered them for a groundbreaking, honest, low price,” De Beers CEO Al Cook wrote Friday in a post on LinkedIn.
“Today, as The New York Times points out, you can buy them for $299 in a supermarket,” he wrote, referencing an article titled “Would You Buy Your Diamond Engagement Ring at Walmart?” the newspaper published Thursday.
(People actually will buy their engagement ring at Walmart, and they buy a lot of other jewelry there too. The company ranks No. 2 on National Jeweler’s latest $100 Million Supersellers list.)
Cook’s LinkedIn post continued, “If you want something fun, sparkly and low cost, go right ahead! If you want to mark the most special moments in your life, do it with a gem that is ancient, rare, and unique—natural diamonds have been the symbol of love for hundreds of years.”
A De Beers spokesperson said the company expects to conclude all of Lightbox’s consumer-facing activity sometime this summer and shut down Lightbox operations at the company’s purpose-built factory in Gresham, Oregon, by the end of the year.
The Lightbox factory will then transition to fully becoming an Element Six facility, playing a “key role” in the company’s business.
Element Six is part of De Beers Group and grows diamonds used for industrial and technological purposes.
The company has offices/manufacturing facilities in seven locations worldwide: Oxford and Ascot in the United Kingdom; Shannon, Ireland; Burghaun, Germany; Springs, South Africa; Santa Clara, California; and the facility in Gresham.
De Beers sent shockwaves through the industry when it introduced Lightbox at JCK Las Vegas in 2018, selling the brand’s lab-grown diamond fashion jewelry online direct to consumers and, later, via partnerships with both major and independent retailers.
When Lightbox came online, it was priced at $800 per carat, a move intended to make consumers understand how little it costs to produce a lab-grown diamond and to differentiate the product from natural diamonds.
Lightbox was positioned as jewelry for less-special special occasions, like Sweet 16s and high school graduations, not for life’s major moments, like weddings and milestone anniversaries.
In the seven years since the brand launched, lab-grown diamond prices have dropped precipitously while natural diamond sales have struggled in the past couple years, due in part to competition from lab-grown stones.
At JCK Las Vegas 2024, De Beers announced it would no longer grow diamonds for jewelry, though Cook said at that time that Lightbox would live on as a brand, telling National Jeweler, “[Lightbox] will continue to sell fun, fashionable lab-grown diamond jewelry.
“They’ll play a role in the industry in setting good, honest pricing and increasingly I think people will respect that role.”
Lightbox even underwent a rebranding in fall 2024, introducing a new logo, tagline, website, and packaging, as well as two new small jewelry collections.
Ultimately, though, De Beers decided not to continue with the lab-grown diamond jewelry business, noting in last week’s announcement, “The evolution of lab-grown diamond values in the jewelry sector underpins De Beers Group’s core belief in rare, high-value, natural diamond jewelry as a separate category from low-cost, mass-produced lab-grown jewelry.”
De Beers said shutting down Lightbox will allow it to funnel more money into marketing natural diamonds.
As part of the closure, the company said it is discussing the sale of “certain assets” of the Lightbox business with potential buyers.
A company spokesperson said it is primarily inventory that will be up for sale, a mix of polished loose lab-grown diamonds as well as some jewelry.
Getting out of the lab-grown diamond jewelry business is one of the elements of De Beers’ “Origins” strategy, its plan to streamline the business and focus on its most profitable operations in advance of its separation from parent company Anglo American.
“As we move towards becoming a standalone company, we continue to optimize our business, reduce costs, and build a focused De Beers that is positioned for profitable growth,” Cook said.
“Overall, we expect both the cost and price of lab-grown diamonds to fall further in the jewelry sector. The planned closure of Lightbox reflects our commitment to natural diamonds. We are also excited at the growing commercial potential for synthetic diamonds in the technology and industrial space.”
“As we move towards becoming a standalone company, we continue to optimize our business, reduce costs, and build a focused De Beers that is positioned for profitable growth,” Cook said.
“Overall, we expect both the cost and price of lab-grown diamonds to fall further in the jewelry sector. The planned closure of Lightbox reflects our commitment to natural diamonds. We are also excited at the growing commercial potential for synthetic diamonds in the technology and industrial space.”
More on Lab-Grown
The Latest
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum “Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal InvestigationMoti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.
Weekly QuizMay 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s DayLichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.
SourcingMay 09, 2025
Gemfields Resumes Emerald Mining in ZambiaThe miner announced plans to recommence open-pit mining at Kagem.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry MomentsAssociate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal FormatSponsored by Instappraise
FinancialsMay 08, 2025
Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New BoutiqueThe brand’s first independent location outside of Australia has opened in Beverly Hills, California.
IndependentsMay 08, 2025
Verragio Announces New Regional Sales ManagerCathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.
FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for TariffsThe company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and BeyondConnecting with your customers throughout the year is key to a successful holiday marketing push.
SourcingMay 07, 2025
Gemfields Says Emerald Sales Improved in Latest AuctionIts commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.
TechnologyMay 07, 2025
Punchmark’s Latest Podcast Features a Very Special Guest National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.
AuctionsMay 06, 2025
Harwell Godfrey Reimagines 10-Carat Blue Diamond for Met Gala-Ready BroochDesigner Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”
Events & AwardsMay 06, 2025
Here’s Who Made Jewelers of America’s New ‘20 Under 40’ ListExpanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.
IndependentsMay 06, 2025
Sissy's Log Cabin Opens New StoreLocated in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.
IndependentsMay 06, 2025
Gunderson’s Jewelers to Be Featured on ‘World’s Greatest’ TV SeriesThe episode about the family-owned jeweler will premiere May 17.
IndependentsMay 05, 2025
Zadok Jewelers Opens Store in AustinThe Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.
AuctionsMay 05, 2025
Nancy Astor’s Cartier Tiara Heads to AuctionThe turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.
SourcingMay 05, 2025
Crater of Diamonds Yields 4-Carat Brown Diamond“The Duke Diamond” is the largest diamond registered at the Arkansas park so far this year.
TrendsMay 02, 2025
Ring Concierge, Kraft Partner on Mother’s Day Macaroni Necklace The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.
CollectionsMay 02, 2025
Piece of the Week: Angely Martinez’s Emerald Promise RingSet with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.
