Editor’s Note
De Beers’ decision to discontinue its lab-grown diamond brand Lightbox marks a significant retreat from a market it once sought to shape. Launched in 2018 to position synthetic gems as a distinct, lower-cost category, the brand ultimately could not withstand the dramatic price erosion—reportedly around 90%—that has redefined the lab-grown sector. This move underscores the volatile economics and fierce competition now characterizing the alternative diamond industry.
De Beers Group, a diamond mining, distribution, processing, and wholesaling company founded in South Africa and headquartered in London, UK, has announced on its official website that it will discontinue its lab-grown diamond (LGD) brand, Lightbox.
Lightbox was launched in 2018, strongly positioning LGDs as a product distinct from natural diamonds. However, since then, the wholesale price of LGDs in the jewelry market has plummeted by approximately 90%. The price collapse, attributed to factors such as the manufacturing of lower-cost LGDs in China intensifying competition and sales in US supermarkets, has led to this discontinuation.
Over the coming months, the company will proceed with the business closure procedures in collaboration with stakeholders including employees, retail partners, and suppliers. Discussions are ongoing with potential buyers regarding the sale of certain assets, including inventory. Support such as warranties and after-sales service will continue to be provided to existing customers.
The company plans to reallocate resources and investments towards marketing activities related to natural diamonds following the Lightbox brand closure.
Al Cook, CEO of De Beers Group, commented on the discontinuation.