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Lightbox, De Beers’ Lab-Grown Brand, Bumps Up Size, Quality Offerings August 23, 2021 (0 comments)
London, UK—Lightbox, the De Beers-owned brand of lab-grown diamonds, will soon be offering a wider range of product in bigger sizes and better color and clarity. Image: Lightbox 2.0-ctw halo-set diamond stud earrings.
The brand, which introduced its lab-grown stones in 2018 at a transparent linear $800-per-carat price point, set off a firestorm of objection in the industry. The goal, said company executives at the time, was to establish the lab-grown category as fun fashion jewelry, not to be confused with high-value natural diamonds, and as such it introduced the $800-per-carat price point and a maximum size of one carat.
But as lab-grown sales have increased, signaling consumer acceptance, Lightbox now is introducing both larger stones and higher qualities. Even so, the brand still believes the sweet spot for lab-grown diamond jewelry is under $2,000, according to a release.
According to this report in JCK, Lightbox will be introducing sizes up to two carats in its standard product, which are G through J color, VS clarity, and very good cut, using its same linear pricing structure of $800 per carat.
Lightbox also is rolling out a new line of better-quality stones, called Finest, which will be D through F color, VVS clarity, and excellent cut. Those will sell for $1,500 per carat, with a maximum size of one carat.
All Lightbox stones, in both collections, will be available in pink, blue, and white, the three colors the brand initially introduced.
After De Beers’ initial introduction of Lightbox and its unique pricing structure, prices in the lab-grown market did decline—but then they recovered. This report from National Jeweler traces the ups and downs of lab-grown prices from 2018 through July 2021.
Ultimately, increased competition in the lab-grown diamond sector means that growers have to compete on something more than price, said Tanya Nisgurestsky, CEO of Virtual Diamond Boutique, in the National Jeweler article.
Related: How Do You Square This Circle? Future Pricing Issues for Lab Grown Diamonds