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De Beers Group to shut LGD jewellery brand Lightbox, will focus on naturals

The move underscores De Beers Group’s commitment to natural diamonds

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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.”

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Education

The New-Age Jewellery Professional: Why Tech Education for Jewellery Industry is the Biggest Growth Driver

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The jewellery industry is no longer defined by craftsmanship alone. Today, it sits at the intersection of design, technology, sustainability, finance, branding, and global trade. As consumer expectations evolve and competition intensifies, structured education and continuous skill development are emerging as the most powerful growth catalysts for the sector.

For a dynamic industry like India’s jewellery market, education is not optional — it is strategic.

From Karigar to Knowledge Professional

For decades, the backbone of the industry has been generational craftsmanship. While this legacy remains invaluable, modern jewellery businesses now demand professionals who understand:

  • Gemology and diamond grading
  • CAD and 3D jewellery design
  • Retail management and consumer psychology
  • Digital marketing and brand storytelling
  • International trade compliance and tariffs
  • ESG and sustainability frameworks

Institutions such as the Gemological Institute of America and the Indian Institute of Gems and Jewellery have played a key role in formalising education pathways, helping transform traditional artisans and retailers into globally competitive professionals.

Trend Watch: Rise of Tech-Integrated Learning

One of the strongest education trends shaping the industry is technology integration.

  • CAD & CAM Training: Digital prototyping reduces costs and speeds up product development cycles.
  • AI in Retail Forecasting: Data-driven inventory planning is replacing intuition-based buying.
  • Blockchain Awareness: Traceability in diamonds and coloured gemstones is becoming a compliance requirement rather than a luxury.
  • Lab-Grown Diamond Expertise: As lab-grown diamonds gain market share, understanding grading, pricing dynamics, and consumer positioning has become critical.

Educational programs now increasingly blend online modules with hands-on workshops, enabling faster upskilling for working professionals.

The Bridal Economy & Consumer Education

India’s bridal jewellery segment continues to drive demand, but the modern bride is informed and research-oriented. She compares:

  • Natural vs lab-grown diamonds
  • Hallmarking standards
  • Ethical sourcing claims
  • Design originality

Retailers who invest in staff education see higher trust conversion rates. Well-trained sales professionals are no longer “salespeople” — they are consultants guiding life-defining purchases.

Financial Literacy in Jewellery

Another emerging area is financial education within the industry itself. With gold functioning as both adornment and asset, professionals must understand:

  • Gold monetisation frameworks
  • Hedging strategies
  • Commodity price cycles
  • Working capital management

Structured knowledge helps businesses move from being inventory-heavy traders to strategically managed enterprises.

Sustainability & Responsible Sourcing

Global buyers increasingly demand proof of ethical sourcing and environmental compliance. Education around responsible mining practices, supply-chain transparency, and ESG reporting is becoming central to export competitiveness.

Industry bodies such as the Gem & Jewellery Export Promotion Council regularly conduct seminars and workshops to align Indian exporters with evolving global standards.

The Future: Hybrid Skills Will Win

The next generation jewellery professional will not be defined by a single skill. The future belongs to those who combine:

  • Design sensibility
  • Technical expertise
  • Business acumen
  • Digital fluency
  • Ethical awareness

For a sector contributing significantly to India’s exports and employment, education is the bridge between heritage and high growth.

Knowledge is the new luxury. As the jewellery industry transitions into a more organised, tech-enabled, and globally integrated ecosystem, continuous learning will determine who leads and who lags. The sparkle of the future will not just come from diamonds — it will come from informed minds shaping the industry.

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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.

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