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.”
Education
The Science Behind Sparkle: How Lab-Grown Diamonds Are Created
A New Era of Diamond Creation
In recent years, lab-grown diamonds have captured the attention of jewellers, consumers, and investors alike. Beyond their beauty, what makes these gems truly fascinating is the science behind their creation. Unlike imitation stones, lab-grown diamonds share the same physical, chemical, and optical properties as natural diamonds — the only difference lies in their origin.
At the heart of this innovation are two cutting-edge processes: High Pressure High Temperature (HPHT) and Chemical Vapor Deposition (CVD). These methods recreate the intense conditions under which natural diamonds form deep within the Earth, allowing scientists to produce genuine diamonds in a controlled laboratory environment.
HPHT: Diamonds Born Under Extreme Conditions

The High Pressure High Temperature (HPHT) method mimics the natural diamond-forming process that occurs about 150 kilometers below the Earth’s surface.
- Starting Point – The Seed:
A small diamond seed, usually a thin slice of an existing diamond, is placed inside a carbon-rich chamber. - Simulating Nature – Pressure and Heat:
The seed is exposed to extreme conditions — pressures of about 5–6 GPa (equivalent to the pressure at the Earth’s mantle) and temperatures of 1,400–1,600°C. - Crystal Growth:
Under these conditions, the carbon source melts and crystallizes around the diamond seed, forming a larger crystal over several weeks.
The result is a high-quality diamond crystal that is virtually indistinguishable from its natural counterpart. HPHT diamonds often exhibit exceptional clarity and can be produced in a range of sizes and colors, including colorless, yellow, and blue varieties.
CVD: Diamonds Grown in a Plasma Cloud

The Chemical Vapor Deposition (CVD) process is a more recent innovation that uses advanced plasma technology to grow diamonds atom by atom.
- Preparing the Chamber:
A thin diamond seed is placed inside a vacuum chamber filled with carbon-rich gases, typically methane and hydrogen. - Creating Plasma:
The gases are energized using microwaves or lasers, forming a plasma cloud that breaks down the molecular bonds of the gases. - Diamond Formation:
Carbon atoms released from the plasma settle onto the seed layer, crystallizing into pure diamond over the course of several weeks.
The CVD method allows for greater control over purity, color, and size, making it ideal for high-end jewellery applications. It also produces diamonds that are free from many of the inclusions typically found in natural stones.
Technology Meets Sustainability

Both HPHT and CVD processes are transforming the jewellery industry not only through technology but also through sustainability. Lab-grown diamonds require no mining, dramatically reducing environmental impact. Many manufacturers are also transitioning to renewable energy sources to power their production facilities, making these diamonds even more eco-conscious.
Furthermore, traceability is a defining advantage. Every lab-grown diamond can be tracked from its creation, offering complete transparency — a growing priority among modern consumers seeking ethical luxury.
Crafting the Future of Jewellery

As consumer awareness grows, lab-grown diamonds are redefining what it means to own something precious. With their scientific precision, sustainable creation, and stunning beauty, they represent the perfect harmony between innovation and artistry.
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