EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
SourcingSep 26, 2018
De Beers’ Lab-Grown Diamond Jewelry Line to Launch Thursday
Lightbox is initially being sold online direct to consumers.
De Beers’ Lightbox lab-grown diamond jewelry is being marketed to consumers as fun fashion jewelry that women can buy for themselves or that can be given as gifts for high school graduations or a Sweet 16. Pictured at left in this Lightbox marketing image is some of the jewelry included in the initial collection.
London—Lightbox, the line of jewelry set with lab-grown diamonds from De Beers, will be available starting Thursday.
A marketing email dispatched Tuesday morning read “Your 48 Hour Countdown” at the top and invited consumers to “window shop while you wait” by previewing the line’s launch collection. There is also a launch countdown clock on the Lightbox Jewelry website.
The line is initially being sold online direct to the public.
Lightbox General Manager Steve Coe has said De Beers will do a “modest” brick-and-mortar trial run later this year and expand it over time; there has been speculation in the industry as to whether Signet Jewelers will be among the retailers to sell Lightbox.
The line, for now, is all fashion jewelry—pendants and stud earrings between 1/4 and 1 carat in size—and is targeted at younger consumers, with the marketing built around the idea that lab-grown diamonds are for slightly-less-special special occasions. They are for friends, not fiancées, as one De Beers executive put it, thereby setting them apart from the engagement ring business on which the diamond industry so heavily depends.
Lightbox man-made diamonds are available in pink, blue or white and are priced the same, regardless of color: $200 for a 1/4 carat; $400 for a 1/2 carat; $600 for a 3/4 carat and $800 for a 1-carat lab-grown stone.
The diamonds are being sold without grading reports because the diamonds are all “created to uniform specifications,” De Beers said, and so reports “have no bearing on either the product’s rarity or value,” though it is worth noting that selling diamonds without grading reports also helps to keep the cost down.
The prices do not include the setting. The man-made diamonds are being set in silver ($100) or 10-karat gold ($200).
Announced just before the Las Vegas jewelry trade shows, De Beers’ long-predicted foray into gem-quality lab-grown diamonds has sparked a flurry of commentary within the industry.
In launching the line, De Beers said its consumer research indicated buyers thoughts lab-grown diamonds were a “fun, pretty product that shouldn’t cost that much” and that it sees itself filling a void in the market for lower-priced diamond fashion jewelry.
It also noted Lightbox would be a “small business” compared to what De Beers sells in mined diamonds.
But longtime industry analyst Ben Janowski and journalist Chaim Even-Zohar—who said more than 10 years ago that De Beers would eventually sell
man-made diamonds—both wrote that man-made diamonds are De Beers’ long game, and Lightbox is just the start.
The Anglo American-owned diamond company is looking to become the dominant producer and price-setter in the space, they wrote, and will eventually expand its offerings beyond a low-priced range of fashion jewelry, selling bigger man-made diamonds set into rings.
Much also has been written about De Beers’ pricing structure for Lightbox ($800/carat), which puts the company’s pieces well below what many other growers are currently charging.
Some, including a few retailers who attended a De Beers’ Lightbox lunch event in Las Vegas, praised the diamond giant for knocking down the price of man-made stones, which some feel are too high and, thereby, too close to the price of mined diamonds.
Some lab-grown diamond producers, however, have accused De Beers of predatory pricing.
A Bloomberg article published earlier this month stated that Tom Chatham, CEO of Chatham Created Gems and Diamonds, filed a complaint about De Beers’ lab-grown pricing practices with the Federal Trade Commission, though Chatham told JCK’s Rob Bates shortly after the article appeared that he would consider it a comment—not a formal complaint—and noted that more will be known about pricing after the line launches.
Element Six, De Beers’ industrial diamond arm, is making the stones used in Lightbox.
Initially, Lightbox jewelry will be set with diamonds from Element Six in the United Kingdom. Diamonds for future collections will come from a new, $94 million Element Six factory located just outside Portland, Oregon. Construction on the 60,000-square-foot facility is underway, with completion expected by 2020.
The Anglo American-owned diamond company is looking to become the dominant producer and price-setter in the space, they wrote, and will eventually expand its offerings beyond a low-priced range of fashion jewelry, selling bigger man-made diamonds set into rings.
Much also has been written about De Beers’ pricing structure for Lightbox ($800/carat), which puts the company’s pieces well below what many other growers are currently charging.
Some, including a few retailers who attended a De Beers’ Lightbox lunch event in Las Vegas, praised the diamond giant for knocking down the price of man-made stones, which some feel are too high and, thereby, too close to the price of mined diamonds.
Some lab-grown diamond producers, however, have accused De Beers of predatory pricing.
A Bloomberg article published earlier this month stated that Tom Chatham, CEO of Chatham Created Gems and Diamonds, filed a complaint about De Beers’ lab-grown pricing practices with the Federal Trade Commission, though Chatham told JCK’s Rob Bates shortly after the article appeared that he would consider it a comment—not a formal complaint—and noted that more will be known about pricing after the line launches.
Element Six, De Beers’ industrial diamond arm, is making the stones used in Lightbox.
Initially, Lightbox jewelry will be set with diamonds from Element Six in the United Kingdom. Diamonds for future collections will come from a new, $94 million Element Six factory located just outside Portland, Oregon. Construction on the 60,000-square-foot facility is underway, with completion expected by 2020.
More on Sourcing
The Latest
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
Weekly QuizNov 21, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
IndependentsNov 21, 2024
Mary Moses Kinney Is Now Part of The Edge’s Team Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
Events & AwardsNov 20, 2024
The Jewelry Symposium Opens Registration, Scholarship ApplicationsThe event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
CrimeNov 19, 2024
Woman Killed in Armed Robbery of Sacramento Jewelry StoreLocal reports identified the woman as the wife of the jewelry store owner.
AuctionsNov 19, 2024
‘A Tsar’s Treasure’ Fetches $2.9M at Sotheby’s Jewelry SaleA collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
MajorsNov 19, 2024
Trove Opens First US Flagship in NYCThe Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
CollectionsNov 19, 2024
Snoop Dogg’s New Jewelry Collection Is All About Love“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
EditorsNov 18, 2024
Q&A: Helzberg CEO Brad Hampton on the Jeweler’s RebrandHampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
Policies & IssuesNov 18, 2024
Reciprocity Jewels Returns to NYC Jewelry WeekThe group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
CollectionsNov 18, 2024
Dolly Parton Shines in Collaboration with Kendra ScottThe collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
Events & AwardsNov 18, 2024
IGI Jewelry Design Competition ReturnsThis year’s theme asks designers to take inspiration from classic fairy tales.
EditorsNov 15, 2024
Why Fine Jewelry Belongs at New York Comic ConSenior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
CollectionsNov 15, 2024
Marie Lichtenberg Battles Counterfeits with New ‘Raiz’in Scapular’ DesignsThe latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
WatchesNov 15, 2024
Piece of the Week: Citizen’s Commemorative Pocket WatchNo. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
Recorded WebinarsNov 15, 2024
Watch: 10 Tips to Keep Your Jewelry Store Secure On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
