CrimeApr 24, 2024
Jewelry Crime Declines Significantly, But Dollar Losses Remain High A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
SourcingSep 26, 2018
De Beers’ Lab-Grown Diamond Jewelry Line to Launch Thursday
Lightbox is initially being sold online direct to consumers.
De Beers’ Lightbox lab-grown diamond jewelry is being marketed to consumers as fun fashion jewelry that women can buy for themselves or that can be given as gifts for high school graduations or a Sweet 16. Pictured at left in this Lightbox marketing image is some of the jewelry included in the initial collection.
London—Lightbox, the line of jewelry set with lab-grown diamonds from De Beers, will be available starting Thursday.
A marketing email dispatched Tuesday morning read “Your 48 Hour Countdown” at the top and invited consumers to “window shop while you wait” by previewing the line’s launch collection. There is also a launch countdown clock on the Lightbox Jewelry website.
The line is initially being sold online direct to the public.
Lightbox General Manager Steve Coe has said De Beers will do a “modest” brick-and-mortar trial run later this year and expand it over time; there has been speculation in the industry as to whether Signet Jewelers will be among the retailers to sell Lightbox.
The line, for now, is all fashion jewelry—pendants and stud earrings between 1/4 and 1 carat in size—and is targeted at younger consumers, with the marketing built around the idea that lab-grown diamonds are for slightly-less-special special occasions. They are for friends, not fiancées, as one De Beers executive put it, thereby setting them apart from the engagement ring business on which the diamond industry so heavily depends.
Lightbox man-made diamonds are available in pink, blue or white and are priced the same, regardless of color: $200 for a 1/4 carat; $400 for a 1/2 carat; $600 for a 3/4 carat and $800 for a 1-carat lab-grown stone.
The diamonds are being sold without grading reports because the diamonds are all “created to uniform specifications,” De Beers said, and so reports “have no bearing on either the product’s rarity or value,” though it is worth noting that selling diamonds without grading reports also helps to keep the cost down.
The prices do not include the setting. The man-made diamonds are being set in silver ($100) or 10-karat gold ($200).
Announced just before the Las Vegas jewelry trade shows, De Beers’ long-predicted foray into gem-quality lab-grown diamonds has sparked a flurry of commentary within the industry.
In launching the line, De Beers said its consumer research indicated buyers thoughts lab-grown diamonds were a “fun, pretty product that shouldn’t cost that much” and that it sees itself filling a void in the market for lower-priced diamond fashion jewelry.
It also noted Lightbox would be a “small business” compared to what De Beers sells in mined diamonds.
But longtime industry analyst Ben Janowski and journalist Chaim Even-Zohar—who said more than 10 years ago that De Beers would eventually sell
Editors' Picks
Sponsored by
man-made diamonds—both wrote that man-made diamonds are De Beers’ long game, and Lightbox is just the start.
The Anglo American-owned diamond company is looking to become the dominant producer and price-setter in the space, they wrote, and will eventually expand its offerings beyond a low-priced range of fashion jewelry, selling bigger man-made diamonds set into rings.
Much also has been written about De Beers’ pricing structure for Lightbox ($800/carat), which puts the company’s pieces well below what many other growers are currently charging.
Some, including a few retailers who attended a De Beers’ Lightbox lunch event in Las Vegas, praised the diamond giant for knocking down the price of man-made stones, which some feel are too high and, thereby, too close to the price of mined diamonds.
Some lab-grown diamond producers, however, have accused De Beers of predatory pricing.
A Bloomberg article published earlier this month stated that Tom Chatham, CEO of Chatham Created Gems and Diamonds, filed a complaint about De Beers’ lab-grown pricing practices with the Federal Trade Commission, though Chatham told JCK’s Rob Bates shortly after the article appeared that he would consider it a comment—not a formal complaint—and noted that more will be known about pricing after the line launches.
Element Six, De Beers’ industrial diamond arm, is making the stones used in Lightbox.
Initially, Lightbox jewelry will be set with diamonds from Element Six in the United Kingdom. Diamonds for future collections will come from a new, $94 million Element Six factory located just outside Portland, Oregon. Construction on the 60,000-square-foot facility is underway, with completion expected by 2020.
The Anglo American-owned diamond company is looking to become the dominant producer and price-setter in the space, they wrote, and will eventually expand its offerings beyond a low-priced range of fashion jewelry, selling bigger man-made diamonds set into rings.
Much also has been written about De Beers’ pricing structure for Lightbox ($800/carat), which puts the company’s pieces well below what many other growers are currently charging.
Some, including a few retailers who attended a De Beers’ Lightbox lunch event in Las Vegas, praised the diamond giant for knocking down the price of man-made stones, which some feel are too high and, thereby, too close to the price of mined diamonds.
Some lab-grown diamond producers, however, have accused De Beers of predatory pricing.
A Bloomberg article published earlier this month stated that Tom Chatham, CEO of Chatham Created Gems and Diamonds, filed a complaint about De Beers’ lab-grown pricing practices with the Federal Trade Commission, though Chatham told JCK’s Rob Bates shortly after the article appeared that he would consider it a comment—not a formal complaint—and noted that more will be known about pricing after the line launches.
Element Six, De Beers’ industrial diamond arm, is making the stones used in Lightbox.
Initially, Lightbox jewelry will be set with diamonds from Element Six in the United Kingdom. Diamonds for future collections will come from a new, $94 million Element Six factory located just outside Portland, Oregon. Construction on the 60,000-square-foot facility is underway, with completion expected by 2020.
More on Sourcing
The Latest
CollectionsApr 24, 2024
Pippa Small Announces ‘Venus’ CollectionInspired by the Roman goddess of love, the designer looked to the sea for her new collection.
FinancialsApr 24, 2024
Kering’s Jewelry Brands a Bright Spot in Tough Q1The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsThe selected nine organizations have outlined their plans for the funds.
Weekly QuizApr 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
WatchesApr 24, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
ColumnistsApr 23, 2024
The Smart Lab: Advanced Email Marketing Strategies for Mother’s DayEmmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
IndependentsApr 23, 2024
Hannoush Jewelers Opens New Store in New York Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
GradingApr 23, 2024
GIA Has a New Book About William RuserRuser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
CollectionsApr 22, 2024
Jacquie Aiche’s New Campaign Stars Adam Levine, Behati PrinslooThe “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
EditorsApr 22, 2024
The 22 Best Quotes from AGS Conclave 2024 Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
SourcingApr 22, 2024
Virtual Diamond Boutique Rebrands as ‘VDB’The overhaul includes a new logo and enhanced digital marketplace.
MajorsApr 22, 2024
Signet Raises Nearly $9M for St. Jude Children’s Research HospitalThe money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
