Despite the fact that De Beers announced in June that it would stop the production of lab-grown diamonds for jewelry, the company today is launching a new fall campaign, titled “Modern Family”, for its lab-grown brand Lightbox. These developments clearly affirm the brand’s commitment to the lab-grown diamond market. De Beers is to stop producing diamonds for jewelry when it comes to Oregon, but the company will continue to focus on innovating and growing the brand.
CEO Antoine Borde emphasized that Lightbox is prioritizing branding and innovation over diamond production, as falling lab-grown diamond prices make wholesale less valuable. Lightbox is sticking to its $500-per-carat entry price.
Although Lightbox has produced diamonds for other brands, like Pandora, in the past, its focus will now shift more towards growing its own brand. Borde believes both natural and lab-grown diamonds will thrive in their respective spaces, offering consumers a range of choices for different occasions. As the lab-grown diamond market expands, Lightbox aims to play a major role in defining this new segment of the industry.
Picture credit: De Beers Lightbox
