De Beers’ Lightbox lab-grown jewelry brand has announced a reduction in the retail prices of its lab-grown diamonds by up to 40%.
This adjustment sees the cost of colorless DEF stones now set at $900 per carat, reduced from $1,500, IJ color stones have decreased in price from $800 to $500 per carat, and GH color stones are now priced at $600 per carat.
This new pricing reflects reductions in manufacturing and wholesale costs and aligns with Lightbox’s competitive pricing strategy.
Enhanced Verification Process
In addition to adjusting prices, Lightbox is implementing an independent verification process for its diamonds through the Gemological Institute of America (GIA), offering consumers assurances of the stones’ quality.
“Lightbox led the lab-grown diamond jewelry sector six years ago with its $800 a carat linear pricing, and today, we are introducing even lower prices that more closely align with current jewelry industry dynamics. We’re also proud to be working with the GIA to verify the quality and consistency of our stones, supporting purchase confidence and continuing our mission of providing clarity, transparency, and value to our customers.”
Antoine Borde, CEO of Lightbox
Implications for the Jewellery Industry
Lightbox, consistently positioned at the more affordable end of the lab-grown diamond market, has further increased the price differential between lab-grown and natural diamonds. This strategy could enhance the distinction in consumers’ minds between the two types of diamonds.
It has long been thought that De Beers’ strategy with Lightbox is to underscore the differences between lab-grown and natural stones. As production costs for lab-grown diamonds continue to decline, it will be interesting to observe whether other retailers follow Lightbox’s lead, potentially making lab-grown diamonds even more accessible to a broader audience.
