Sourcing

De Beers to Begin Selling Lab-Grown Diamond Jewelry

SourcingMay 29, 2018

De Beers to Begin Selling Lab-Grown Diamond Jewelry

It is monumental, though not entirely shocking, jewelry industry news.

20180529_Lightbox-Jewelry.jpg
This picture provided by De Beers shows a selection of Lightbox Jewelry, the line of diamond fashion jewelry set with lab-grown white, pink and blue diamonds created by Element Six. The line will initially be sold direct to consumers online beginning this fall.
London--De Beers is entering the jewelry end of the lab-grown diamond industry with the launch of Lightbox Jewelry, a company that sells fashion jewelry set with diamonds grown by Element Six.

The jewelry will be sold direct to consumers via LightboxJewelry.com starting in September, with retail partnerships to be announced “in due course,” the company said in formally announcing the launch of Lightbox on Tuesday. 

Lightbox Jewelry will be, at least for now, limited to fashion jewelry, necklaces and earrings set with white, blue and pink man-made diamonds that are “accessibly priced.”

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. (Prices are for white, blue and pink diamonds and do not include the setting.)

In the company’s news release about Lightbox, both De Beers CEO Bruce Cleaver and Steve Coe, the general manager of Lightbox Jewelry, said the line aims to fill what De Beers perceives as a void in the market for well-priced lab-grown diamond fashion jewelry and to clear up consumer confusion over man-made diamonds.

“Our extensive research tells us this is how consumers regard lab-grown diamonds—as a fun, pretty product that shouldn’t cost that much—so we see an opportunity here that’s been missed by lab-grown diamond producers. Lab-grown diamonds are a product of technology, and as we’ve seen with synthetic sapphires, rubies and emeralds, as the technology advances, products become more affordable. After decades of R&D investment, we’re able to offer consumers a better price today,” Cleaver said.
 
He added that Lightbox Jewelry will be a “small business” compared to what De Beers sells in mined diamonds.

Coe said: “We’ve learned from our research that there is a lot of confusion about lab-grown diamonds—what they are, how they differ from diamonds and how they are valued. Lightbox will be clear with consumers about what lab-grown diamonds are and will offer straightforward pricing that is consistent with the true cost of production.” 

He added that they will add more colors and designs to the line over time.

De Beers’ entrance into the lab-grown diamond jewelry market is monumental, although not entirely shocking, jewelry industry news. There has been speculation for years about when—not if—the company would employ its synthetic diamond arm, Element Six, to add gem-quality diamonds to its industrial production. 


Element Six is based in Maidenhead, United Kingdom, and has grown diamonds for industrial purposes, for items such as drills, lasers and speakers, for years. 

With the launch of Lightbox, De Beers is sinking $94 million over the next four years into a second Element Six facility near Portland, Oregon. Once fully operational, the plant will be capable of producing more than 500,000 carats of diamonds per year. 

De Beers said Lightbox Jewelry will be the only company to which Element Six supplies gem-quality lab-grown diamonds.

All Lightbox diamonds that weigh 0.2 carats or more will be inscribed with a permanent logo inside the stone, visible only under a microscope, marking as a lab-grown diamond made by Element Six.
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Gina Drosos, Joan Hilson, and Jamie Singleton
EditorsMar 18, 2024
Q&A: Signet CEO Gina Drosos on Natural Diamonds

Drosos shared her top takeaways from a recent Botswana trip and her insights into the natural diamond market.

Claire’s storefront
MajorsMar 18, 2024
Claire’s to Launch in 4,400 Walgreens Stores

The retailer is expanding its footprint via retail partnerships, previously inking deals with Kohl’s and Macy’s.

Jewelers of America logo
MajorsMar 18, 2024
JA Partners with eBay on New Member Benefit

Members will now have access to “eBay Concierge,” a white-glove dedicated customer service team.

BTYB-HoBrothers-updated.png
Brought to you by
The Scalable, Professional, and Effortless Solution for High-Demand Custom Jewelry Retailers

Ho Brothers offers scalable solutions for the future of custom jewelry.

The Jewelry Symposium logo
Events & AwardsMar 18, 2024
The Jewelry Symposium Launches Inaugural Scholarship

The deadline to apply is March 29.

Weekly QuizMar 14, 2024
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Brilliant Earth x Logan Hollowell Bloom earrings
FinancialsMar 15, 2024
Brilliant Earth Posts Record Sales, Orders in 2023

CEO Beth Gerstein spoke about the growing appeal of its non-bridal fine jewelry and its expansion plans on its recent earnings call.

Lotus Tiara
CollectionsMar 15, 2024
Piece of the Week: The Lotus Tiara

The versatile jewel pairs ancient Egyptian inspiration with a modern design.

GIA id100
Brought to you by
Full Disclosure at Your Fingertips

Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.

Gemological Institute of America logo
GradingMar 14, 2024
GIA Has a New Scholarship for High School Students in San Diego

The spring application window closes on March 31.

15.51-Carat Yellow Diamond
AuctionsMar 14, 2024
Phillips Hong Kong to Auction 15.51-Carat Yellow Diamond

It’s estimated to sell for up to $1.3 million at the upcoming sale on March 28.

Hedda Schupak
Events & AwardsMar 14, 2024
WJA Foundation Establishes Scholarship in Hedda Schupak’s Honor

It aims to support aspiring journalists, media professionals, content creators, and communicators.

Slick Rick
Events & AwardsMar 13, 2024
A Celebration of Hip-Hop Jewelry Is Coming to AMNH

“Ice Cold: An Exhibition of Hip-Hop Jewelry” will open at the New York City museum on May 9.

Dave Meleski
MajorsMar 13, 2024
Richline’s Dave Meleski Takes Over as RJC Chair

He succeeds David Bouffard, who is leaving Signet and the RJC next month.

Zachary’s Jewelers Mother’s Day kids jewelry contest
IndependentsMar 13, 2024
Zachary’s Jewelers Is Holding a Mother’s Day Jewelry Contest for Kids

Three winners will have their jewelry sketches turned into a real piece of jewelry in time for the holiday.

Boucheron Power of Couture
CollectionsMar 13, 2024
Boucheron’s New High Jewelry Collection Pays Homage to Ceremony, History

“Power of Couture” recalls Frédéric Boucheron’s love of fabric using diamonds and rock crystal.

Harry Winston diamond necklace
AuctionsMar 12, 2024
Top Lots Don’t Sell at Sotheby’s Signed Jewels Auction

A Harry Winston diamond necklace and other top lots failed to find buyers.

National Jeweler columnist Lilian Raji
ColumnistsMar 12, 2024
The PR Adviser: Closing Sales and Following Up

Lilian Raji offers advice to a business owner who is having trouble crossing the finish line with customers.

Steve Webb
MajorsMar 12, 2024
Steve Webb Named EVP of The Gordon Company

He brings 30 years of retail store management experience to the role.

Diamonds Do Good Awards logo
Events & AwardsMar 12, 2024
DDG to Honor 3 Industry Veterans in Vegas

At its annual gala, Diamonds Do Good will present awards to GIA, London Jewelers, and Lisa Bridge.

Cynthia Erivo
EditorsMar 11, 2024
This Year’s Oscars Jewelry Was the Definition of Glamour

Vibrant gemstones, layered diamond pieces and brooches with a story stole the show.

2024 Gem Awards audience
Events & AwardsMar 11, 2024
Gem Awards Highlight the Power of Retail, Community

The 2024 winners expressed gratitude to their teams, industry colleagues, and those who turn jewelry dreams into reality.

Jewelry from designers Jean Prounis, Marla Aaron, and Marie Lichtenberg
CollectionsMar 08, 2024
Pieces of the Week: Gem Award for Jewelry Design Nominees

They are Marla Aaron, Marie Lichtenberg, and Jean Prounis.

Peter Montalbano
Events & AwardsMar 08, 2024
Peter Montalbano to Receive JSA Industry Service Award

The Jewelers’ Security Alliance will honor the industry veteran at its upcoming annual luncheon.

Pomellato International Women’s Day video campaign
Policies & IssuesMar 08, 2024
Pomellato’s 2024 IWD Video Calls for an End to Violence Against Women

The annual video stars Pomellato CEO Sabina Belli alongside Jane Fonda and other celebrities and activists.

970x250.jpg
Supplier BulletinMar 07, 2024
Empower Your Team with IGI’s Comprehensive Educational Services

Sponsored by IGI

Eddie Grove
IndependentsMar 07, 2024
‘Old-School’ Jewelry Salesman Eddie Grove Dies at 81

The Pennsylvania native, who sold for Gumuchian and others, is remembered for being kind and outgoing.

A selection of engagement rings
TrendsMar 07, 2024
5 Engagement Ring Trends for 2024

From three-stone rings to fancy shapes, experts weigh in on what consumers could be looking for this year.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy