De Beers Group announced on May 8, 2025, its plan to close Lightbox, its lab-grown diamond jewelry brand, citing a 90% drop in wholesale lab-grown diamond prices and intensifying global competition. The move signals a strategic shift for overseas jewelry buyers, as De Beers refocuses on natural diamonds and industrial synthetic diamond applications, potentially reshaping supply dynamics for lab-grown diamond jewelry sourcing.
Closure details and timeline
De Beers said it is in talks to sell certain Lightbox assets, including inventory, to potential buyers. The company will work with employees, retail partners, suppliers, and stakeholders to ensure a smooth process over the coming months. Customers will continue to receive support for existing purchases, including warranties and after-sales services, during the closure. No specific closure date was provided.
Supply-chain impact
The Lightbox lab-grown diamond manufacturing facility in Gresham, Oregon, which opened in 2020, will be repurposed solely to produce synthetic diamonds for industrial applications through De Beers' subsidiary Element Six. Element Six has operated in this space for over 70 years and also has facilities in the UK, Ireland, Germany, and South Africa. This shift removes a major branded lab-grown diamond jewelry production line from the market.
Market context and pricing pressure
Lightbox was launched in 2018 with transparent pricing of $800 per carat, later cut to $500 per carat a year ago. De Beers reported that wholesale lab-grown diamond prices for jewelry have fallen 90%, tracking closer to a cost-plus model and diverging from natural diamond prices. CEO Al Cook noted intensifying global competition, particularly from low-cost lab-grown diamond production in China and price erosion in US supermarkets, with expectations of further declines.
What buyers should watch
Overseas jewelry buyers should monitor how this closure affects lab-grown diamond jewelry supply and pricing. The exit of a major branded player may create opportunities for independent lab-grown diamond manufacturers and suppliers, especially those in China and India. However, continued price declines could pressure margins for importers and private-label brands. Buyers should also watch for potential asset sales that could redistribute Lightbox inventory into secondary markets.
Compliance and logistics signals
De Beers' decision aligns with its strategy to streamline operations ahead of becoming a standalone company, following parent Anglo American's divestment plans. The closure reinforces De Beers' commitment to natural diamonds in the jewelry sector. For buyers, this may signal a clearer market segmentation between natural and lab-grown diamonds, potentially affecting marketing strategies and consumer perception in bridal and fine jewelry categories.
Source: Read the original report | Published: May 09, 2025