Lightbox Jewelry, the wholly-owned lab-grown diamond jewelry brand by De Beers Group, has announced a permanent price reduction, lowering its Standard range of lab-grown diamonds to as low as $500 per carat from the previous price of $800 per carat.
After months of testing lower prices and conducting research in the lab-grown diamond jewelry sector, Lightbox Jewelry is implementing a price reduction. The brand will now offer three distinct price points: $500 per carat for IJ color stones, $600 per carat for GH color stones, and $900 per carat for the highest quality stones of DEF color, down from $1,500 per carat. Each stone comes with a guaranteed minimum ‘very good’ cut and VS clarity, with DEF stones featuring an ‘excellent’ cut.
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Sandrine Conseiller, CEO of De Beers Brands, expressed, “The wholesale prices of lab-grown diamonds in the jewelry sector are steadily decreasing, and we’re glad to extend these savings to our customers. These reduced prices will maintain the brand’s competitiveness in this rapidly changing sector, while ensuring the continued provision of high-quality lab-grown diamonds manufactured with 100% renewable energy. Lightbox has consistently upheld linear pricing, aligning with the linear production costs, and has remained transparent about the nature of lab-grown diamonds – and equally importantly, what they are not.”
“Consumers are becoming more aware that natural and lab-grown diamonds are fundamentally different items as a result of the rapid price gap between them at retail. Currently, a Lightbox lab-grown diamond of the greatest quality, weighing two carats, costs around 10% less than a comparable-sized, natural diamond of the same quality. This pricing trend confirms our long-held belief that fashion jewellery will present the biggest market for lab-grown stones because lower price points will allow for inventive and vibrant designs like the pink and blue Lightbox stones. Since labgrown diamonds do not have the same lasting value as natural diamonds, we think it is crucial that jewellery buyers recognise that labgrown diamonds are a separate product category.”
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