DiamondBuzz
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.”
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
DiamondBuzz
GIA says it can’t comply with industry bodies’ request for nominal, grading-linked contribution mechanism”
A coalition of 15 major industry organizations recently petitioned the Gemological Institute of America (GIA) to implement a “grading-linked contribution mechanism.” The goal was to secure sustainable funding for the Natural Diamond Council (NDC) to revitalize consumer marketing. However, the GIA has officially declined the request, citing legal and structural constraints.
The initiative, led by the Diamond Manufacturers & Importers Association of America (DMIA), suggested a nominal, sliding-scale surcharge based on carat size for every diamond graded by the GIA.
- Objective: To create a “fair, transparent, and scalable” revenue stream for natural diamond promotion.
- Rationale: Proponents argued that since every graded diamond benefits from GIA’s reputation, a small levy is a logical way to support the industry’s collective health.
- Precedent: The groups pointed to India’s successful implementation of small levies for industry promotion as a proof of concept.
3. GIA’s Official Stance
Despite the unified front of the 15 organizations (American Gem Trade Association, Antwerp World Diamond Centre, Bharat Diamond Bourse, CIBJO (World Jewellery Confederation), the Diamond Dealers Club of New York, the Dubai Multi Commodities Centre, the Gem & Jewellery Export Promotion Council, the Indian Diamond & Colorstone Association, the International Diamond Manufacturers Association, the Israel Diamond Manufacturers Association, Jewelers of America, United States Jewelry Council, World Diamond Council, and the World Federation of Diamond Bourses), the GIA has rejected the proposal
The GIA’s refusal to implement the proposed surcharge is rooted in its structural identity as a 501(c)(3) nonprofit organization. Under this legal designation, the GIA is strictly prohibited from diverted funds or collecting fees to benefit external, for-profit, or trade-specific marketing entities like the Natural Diamond Council (NDC).
Beyond the legal constraints, the organization maintains a firm boundary regarding its mission alignment; while industry groups seek to drive commercial demand, the GIA’s primary mandate is centered on consumer protection and rigorous scientific education. Engaging in commercial promotion could be perceived as a conflict of interest that undermines its role as an impartial arbiter of diamond quality.
Despite this rejection, the GIA has signaled a willingness for future support through collaborative efforts that fit within its educational purview. By focusing on “industry education” rather than “marketing,” the GIA can continue to fund internal initiatives that overlap with the NDC’s goals without violating its nonprofit status or compromising its reputation for objectivity.
The rejection by the GIA marks a significant hurdle for the NDC’s funding strategy. The industry now faces the challenge of creating a self-funded marketing engine without the “centralized gatekeeper” advantage that a grading lab surcharge would have provided.
Potential Alternative Paths:
- Implementing voluntary contribution models at the retail or wholesale level.
- Focusing on “educational” campaigns that GIA can legally support under its nonprofit status.
- Exploring government-backed levies in major diamond hubs (similar to the Indian model).
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