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De Beers Shuts Down Lightbox, to Refocus on Naturals

Citing steep price declines and shifting market dynamics, De Beers discontinues its lab-grown jewelry brand to focus on premium natural diamond offerings under its renewed “Origins Strategy.”

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De Beers has announced the planned closure of its lab-grown diamond jewelry brand, Lightbox, marking a strategic pivot back to its core business of natural diamonds. The company is currently in talks with potential buyers for Lightbox’s assets, including its remaining inventory, as it seeks to streamline operations and focus on higher-value market segments.

Launched in 2018, Lightbox was positioned as an accessible lab-grown diamond (LGD) brand, offering transparent pricing at $800 per carat to underscore the difference in value between lab-grown and natural diamonds. However, since then, the LGD jewelry market has experienced a dramatic shift, with wholesale prices falling by approximately 90% due to oversupply and intensifying global competition—especially from low-cost producers in China and mass-market retailers in the U.S.

De Beers cited this sustained price decline as the primary driver behind the decision to discontinue the brand. According to the company, the move aligns with its belief that lab-grown diamonds, increasingly commoditized, occupy a fundamentally different category from natural diamonds, which are positioned as rare, emotionally significant, and high-value.

The closure is part of the broader “Origins Strategy” unveiled in May 2024, which aims to refocus the business on high-return areas and reinvigorate consumer demand for natural diamonds. This includes increased investment in industry-wide marketing and initiatives that emphasize the unique value proposition of natural stones.

De Beers Group CEO Al Cook commented, “The persistently declining value of lab-grown diamonds in jewelry underscores the growing differentiation between these factory-made products and natural diamonds. As lab-grown production expands and prices drop, the gap will only widen.”

De Beers affirmed that it will support all current Lightbox customers through the transition, maintaining warranties and after-sales services. The company is also working closely with employees, retail partners, and suppliers to ensure a smooth wind-down of operations.

Meanwhile, De Beers’ synthetic diamond manufacturing subsidiary, Element Six, will shift its focus entirely to industrial and technological applications, where synthetic diamonds continue to show strong growth potential. “We are excited about the expanding role synthetic diamonds can play in fields like quantum computing, high-performance electronics, and medical technology,” Cook added

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DiamondBuzz

De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India

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De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.

The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.

We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance)  to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Kirit bhansali

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.

By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”

The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:

  • Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
  • Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
  • Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
  • Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.

As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.

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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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