De Beers Group’s lab-grown diamond jewelry brand, Lightbox Jewelry, has announced a significant permanent price reduction — the first price changes since it was launched in 2018 — bringing their Standard range of lab-grown diamonds down to as low as $500 per carat from the previous $800 per carat. This decision follows extensive research and testing in response to the declining prices in the lab-grown diamond jewelry sector.
The brand will now offer three linear price points, with I-J color stones priced at $500 per carat, G-H color stones at $600 per carat, and the highest quality D-E-F color stones at $900 per carat, down from $1,500 per carat. All stones come with a guaranteed minimum “very good” cut and VS clarity, with the D-E-F stones featuring an “excellent” cut.
Initially, Lightbox asserted that its lab-created diamonds didn’t necessitate documentation, but it has now decided to provide downloadable GIA “batch quality verification” reports alongside its stones. These reports will entail GIA examining a representative sample from each production to validate their quality, as specified by Lightbox. However, individual grading won’t be offered by GIA; rather, it will solely confirm whether the diamonds fall within the D-E-F, G-H, or I-J color ranges and adhere to Lightbox’s designated cut and clarity standards.
Sandrine Conseiller, CEO of De Beers Brands, expressed the company’s commitment to passing on savings to customers and ensuring competitiveness in the evolving market. She emphasized the brand’s dedication to transparency, highlighting the distinctions between natural and lab-grown diamonds.
«The price difference between natural and lab-grown diamonds at retail is growing fast — Conseiller declared — accelerating consumer awareness that they are fundamentally very different products. A Lightbox highest quality two carat lab-grown diamond now retails for around just 10 per cent of an equivalent size and quality natural diamond». Conseiller also emphasized the brand’s belief in the potential for lab-grown stones in fashion jewelry, where lower price points enable innovative designs like the blue and pink Lightbox stones.
