FinancialsMay 17, 2024
Richemont Appoints Van Cleef & Arpels’ Nicolas Bos as New CEOThe announcement coincided with its full-year results, with growth driven by its jewelry brands.
SourcingJun 28, 2018
De Beers Breaks Ground on Diamond Growing Facility
It’s located outside Portland, Oregon, and is expected to be operational by 2020.
A rendering of the 60,000-square-foot Element Six facility now under construction in Gresham, Oregon. It will grow diamonds for Lightbox Jewelry, the De Beers company that will begin selling lab-grown diamond jewelry this fall.
Gresham, Ore.--De Beers has broken ground on the factory where it will grow diamonds for Lightbox, its new company that will sell fashion jewelry set with white, blue and pink man-made diamonds.
The $94 million, 60,000-square-foot Element Six facility will be located in Gresham, Oregon, a suburb located about 16 miles east of Portland.
Element Six is the arm of De Beers that has grown diamonds for industrial purposes for decades, but, as De Beers announced shortly before the jewelry trade shows in late May/early June, is moving into the manufacturing of gem-quality diamonds.
Element Six currently is headquartered in Maidenhead, United Kingdom. This will be its first U.S. facility to grow gem-quality diamonds, and De Beers has said Element Six will grow these diamonds for Lightbox only. (Element Six has industrial diamond factories in the United States already, in Santa Clara, California and Houston.)
The Gresham factory is expected to be completed by August 2019 and begin production the following year, with a capacity of 500,000 rough carats per year. It will employ 60 people, including engineers and technicians.
Lightbox Jewelry is slated to launch in September and is limited, at least for now, to fashion jewelry—simple pendants and diamond solitaire earrings with and without halos that will be sold as singles as well as in pairs.
De Beers is charging $200 for a piece of Lightbox Jewelry set with a 0.25-carat diamond; $400 for a half-carat diamond; $600 for 0.75 carats; and $800 for pieces set with a 1-carat man-made diamond. (The prices are the same no matter if the piece is set with a white, blue or pink diamond but don’t include the setting.)
At a lunch event held at the JCK Las Vegas jewelry trade show, De Beers executives and those working on Lightbox for the company said the jewelry line was developed to, first, communicate clearly what lab-grown diamonds are and, secondly, to “play in the accessories space,” meaning to compete with handbags, designer sunglasses, etc. for which consumers are spending $200 to $500.
De Beers is aiming to position Lightbox as a gift for special but not once-in-a-lifetime occasions, a gift to a young woman for her Sweet 16 but not an engagement (which, of course, De Beers think
should be marked with a mined diamond). They are, as they put it during the Lightbox presentation in Las Vegas, for “friends, not fiancées.”
Initially Lightbox Jewelry will be sold directly to the public through its website, though General Manager Steve Coe said at the Vegas event that the company will begin a “modest” brick-and-mortar store trial later this year, expanding that in 2019 and again in 2020, after the Gresham facility opens.
The presentation drew mixed reviews from audience members.
One woman said she felt De Beers was “screwing the retailer” by selling directly to the public while others applauded the company for knocking down the price of lab-grown diamonds, which some feel is too high in comparison to mined diamonds.
Initially Lightbox Jewelry will be sold directly to the public through its website, though General Manager Steve Coe said at the Vegas event that the company will begin a “modest” brick-and-mortar store trial later this year, expanding that in 2019 and again in 2020, after the Gresham facility opens.
The presentation drew mixed reviews from audience members.
One woman said she felt De Beers was “screwing the retailer” by selling directly to the public while others applauded the company for knocking down the price of lab-grown diamonds, which some feel is too high in comparison to mined diamonds.
More on Sourcing
The Latest
FinancialsMay 17, 2024
Watches of Switzerland’s Fiscal-Year Sales Flat Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Recorded WebinarsMay 17, 2024
Watch: Preparing for Trade Show SuccessJewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.Despite the rising prices, consumers continue to seek out the precious metal.
AuctionsMay 17, 2024
Piece of the Week: Cartier’s Ring-Tailed LemurThis little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Weekly QuizMay 16, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite CyberattackThough its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from AuctionDespite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve DoneLilian Raji gives advice to designers on how to make the most of great publicity opportunities.
ColumnistsMay 15, 2024
Squirrel Spotting: Why Retailers Struggle to Fire BrandsWhy do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
AuctionsMay 15, 2024
Red Diamond Breaks Records at Phillips GenevaThe “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Events & AwardsMay 15, 2024
See Who’s in JA’s 2024 ‘20 Under 40’ ClassThe annual list recognizes young professionals making an impact in jewelry retail.
IndependentsMay 15, 2024
David Mann Jewelers in Upstate NY to Close After 35 YearsOwner David Mann is heading into retirement.
FinancialsMay 15, 2024
Brilliant Earth’s Sales Fall Flat in Q1 While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to AuctionChristie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New CampaignThe ad aims to position platinum jewelry as ideal for everyday wear.
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal OfferingsRetailers can customize and print the appraisal brochures from their store.
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed The site has been down since Thursday evening, just ahead of its spring auctions.
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | HindmanThe late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest WinnersThree fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEOKimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ NecklaceAs a token of womanhood, this necklace depicts when Venus was born from the sea.
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms Show your mother some love with a piece of fine jewelry.
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury StoreThe company’s Easton location will remain open.
MajorsMay 09, 2024
JBT Elects New ChairmanBrian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
