JB Insights
De Beers Group to shut LGD jewellery brand Lightbox, will focus on naturals
The move underscores De Beers Group’s commitment to natural diamonds
De Beers Group today announces its intention to close its lab-grown diamond (“LGD”) jewellery brand, Lightbox, reinforcing De Beers Group’s commitment to natural diamonds in the jewellery sector. As part of the closure process, De Beers Group is discussing the sale of certain assets, including inventory, with potential buyers.
Lightbox, which was established in 2018, has highlighted that LGDs are a distinct product from natural diamonds, with different attributes and different value. The business was launched with transparent linear pricing of $800 per carat. Since then, LGD prices in the jewellery sector have fallen 90% at wholesale, tracking closer to a cost-plus model as they have diverged from natural diamond prices. Reflecting this sharp price decline, De Beers Group intends to discontinue the Lightbox business. The evolution of LGD values in the jewellery sector underpins De Beers Group’s core belief in rare, high-value, natural diamond jewellery as a separate category from low-cost, mass-produced LGD jewellery.
The proposed closure of the Lightbox business reflects a key executional milestone in De Beers Group’s Origins Strategy, as set out in May 2024, to focus on high-return activities and streamline the business. The closure will enable De Beers Group to reallocate investment to initiatives focused on reinvigorating desire for natural diamonds through category marketing.
De Beers Group will work closely with employees, retail partners, suppliers, and other 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 process.
Element Six, De Beers Group’s subsidiary that previously produced lab grown stones for Lightbox, maintains its exclusive focus on industrial solutions using synthetic diamonds. Building on its world-leading status developed over more than seven decades, Element Six is well-positioned to seize the rapidly growing potential for synthetic diamond applications across a range of future-facing technologies and applications.
Al Cook, Chief Executive Officer of De Beers Group, said: “As we move towards becoming a standalone company, we continue to optimise our business, reduce costs and build a focused De Beers that is positioned for profitable growth.
“The persistently declining value of lab-grown diamonds in jewellery underscores the growing differentiation between these factory-made products and natural diamonds. Lightbox has helped to highlight the fundamental differences in value between these two categories. Global competition continues to intensify with more low-cost lab-grown diamond production from China. In the US, supermarkets are driving down lab-grown diamond jewellery prices. Overall, we expect both the cost and price of lab-grown diamonds to fall further in the jewellery 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.”
JB Insights
IAGES is a pioneering framework to ensure transparency, trust and sustainability in the gold sector
Indian Association for Gold Excellence and Standards (IAGES) is a Self Regulatory Organisation (SRO) created by the Indian gold industry, for the Indian gold industry, and supported by prominent gold sector industry associations. IAGES stands as an independent body revolutionizing the gold industry in India, aims to brings a pioneering framework to ensure transparency, trust, and sustainability in the gold sector. Kaushlendra Sinha, CEO -IAGES speaking to JewelBuzz, underscores how IAGES will enhance compliance and build trust in the gold sector and dwells on the pan – India roll-out of IAGES.
We are at GJS Diwali edition-What’s your impression of this year’s event?
The energy here is palpable. There’s a renewed sense of optimism, and I must commend the GJC for orchestrating such a seamless show. Events like this are invaluable—they allow us to connect with stakeholders across the ecosystem.
Tell us about IAGES’s relationship with trade organizations.
We maintain a close partnership with the GJC, which is a primary shareholder of IAGES. Our collaboration extends across multiple initiatives, ensuring alignment with industry standards. In essence, we are an industry-led, self-regulatory organization—the first of its kind globally in the gold sector.
What’s the mission behind IAGES?
Our goal is to enhance compliance across the gold industry, thereby strengthening consumer trust throughout the value chain. By creating transparency and standardization, we aim to give consumers confidence when engaging with gold businesses, particularly in high-value, emotional transactions.
How has IAGES evolved since inception?
The initiative began in collaboration with the World Gold Council. By August 2025, IAGES became an independent entity and now operates as a fully industry-led initiative. Our shareholder base includes the GJC and IAGES partners, with more joining progressively.
How are you engaging with the industry across India?
Currently, our accreditation program is live in Mumbai. However, we’ve received significant inquiries from other regions, and we’re actively expanding our assessor network nationwide. Our long-term objective is Pan-India coverage, enabling businesses to access our services regardless of location.
And on the consumer side, what’s the strategy?
Consumer engagement is central to our initiative. IAGES accreditation provides a seal of trust, signifying that a business has undergone third-party assessment, not self-certification. This ensures consumers interact with entities that demonstrate integrity, compliance, and best practices. Our marketing campaign will roll out within the next month, directly targeting consumer awareness and trust.
Can you share some numbers?
We’ve seen a strong response, with over 200 expressions of interest to date. Our panel of 10 trained assessors is currently onboarding, with rigorous training on our code of conduct. Accreditation isn’t instantaneous—it’s a structured, methodical process, ensuring credibility and consistency.
Any final thoughts as you expand this initiative?
Our vision is clear: drive the gold industry towards organization, transparency, and consumer confidence. With government encouragement for the organized sector, initiatives like IAGES are critical in enhancing credibility and reputation.
Thank you for your insights. Wishing you and your team continued success.
Thank you, Steve. We thank JewelBuzz for providing this platform to share our vision and look forward to connecting further with both industry and consumers.
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.