Editor’s Note
This article reports on De Beers’ strategic decision to close its lab-grown diamond brand, Lightbox, and refocus on its core natural diamond business.
On May 8, 2025, De Beers Group announced the closure of its lab-grown diamond jewelry brand, Lightbox.
De Beers stated that this move further demonstrates the group’s commitment to focusing on natural diamonds in the jewelry sector. As part of the business adjustment, the group is in discussions with potential buyers regarding the sale of certain assets, including inventory.
Lightbox was founded in 2018, advocating that lab-grown diamonds and natural diamonds are distinct product categories with differentiated characteristics and value propositions. At its launch, the brand adopted a transparent and uniform pricing strategy ($800 per carat). However, since then, the wholesale price of jewelry-grade lab-grown diamonds has plummeted by 90%, and its pricing model has gradually shifted to cost-plus, completely diverging from the price trajectory of natural diamonds. In light of this, De Beers Group decided to terminate the Lightbox business.
This decision confirms the group’s core belief in the enduring value of rare, high-value natural diamonds.